Context
BSE looks like it topped out at Wave B, and the price action since then is starting to align with a fresh downside leg.
Wave Count View
Wave A completed in five waves with extended wave 3, Wave B retraced as a controlled three, and the drop from 2960 fits the profile of a leading diagonal for Wave 1 of C.
Bearish Case
As long as 2960 holds, the bias stays firmly on the downside. A proper C-wave should unfold in five legs, and the early structure is already pointing that way.
Conclusion
Momentum favours the bearish interpretation unless the invalidation level is violated. Wave 2 will tell us whether the market wants to continue this decline or flip the script.
Disclaimer: Edu Only. DYOR.
BSE looks like it topped out at Wave B, and the price action since then is starting to align with a fresh downside leg.
Wave Count View
Wave A completed in five waves with extended wave 3, Wave B retraced as a controlled three, and the drop from 2960 fits the profile of a leading diagonal for Wave 1 of C.
Bearish Case
As long as 2960 holds, the bias stays firmly on the downside. A proper C-wave should unfold in five legs, and the early structure is already pointing that way.
Conclusion
Momentum favours the bearish interpretation unless the invalidation level is violated. Wave 2 will tell us whether the market wants to continue this decline or flip the script.
Disclaimer: Edu Only. DYOR.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.