BSE - Topping out Formation

Dec 24, 2024

Topping out formation seen on Smaller TF.

On daily/Weekly TF, price is in the 5th wave (or even 5th wave is complete)





but on Smaller TF, looks like one more high or equal high is pending.. as they say, Do not trust the 5th wave..



I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.

Dec 27, 2024

Trade active

The index is showing signs of recovery by sustaining above 23870, but BSE is continuing it's path downwards as projected.. lets see how far/deep this goes..

Jan 14

Trade closed: target reached

4th wave ended at 5023 and now trading at 5425+.. looks like i of 5 and ii of 5 are complete and iii of 5 is in progress

Jan 17

Note

iii of 5 and iv of 5 is also over.. Longs at the point is very risky.. Now that the 5 wave is getting over in a few hundred points, the fall will be impulse in nature (Profit booking)..If you are a breakout trader, keep SL very tightly