BSE Ltd – Completion of a 5-Wave Impulse

2 Haz

BSE Ltd appears to have completed a five-wave impulsive advance following a prior flat correction. Wave 5 has reached the 1.618 Fibonacci extension of Wave 1 and touched the upper boundary of a well-defined ascending channel — suggesting a potential short-term top.

If a correction unfolds from here, it may take the form of a zigzag or a flat. Key Fibonacci retracement levels to watch:

• Target 1: 2,159 – 0.382 retracement
• Target 2: 1,981 – 0.5 retracement
• Target 3: 1,803 – 0.618 retracement

The invalidation level for this setup is around 2,736.20. A sustained move above this would indicate that the uptrend may still be in progress.

Price action in the coming sessions will be key to confirming the next direction.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.

3 Haz

Not

Update – Wave 3 Subdivision Unfolding:

The price has extended beyond the previous Wave 5 target, suggesting that what was initially marked as Wave 5 might still be in progress. On closer inspection, the move from the Wave 4 low now appears to be a subdividing Wave 3 of a larger degree. This chart reflects the internal 1–2–3–4–5 structure within Wave 3, indicating further upside is possible before the full impulse completes.

7 Haz

Not

It indeed looks like it was the 3rd wave extension instead of 5th wave as shown here respecting the levels. There is possibility of a short term pull-back to the retracement zones. Important to note the Invalidation level.