📉 BSE Ltd – Post-Bonus Correction Likely After Multi-Signal Overstretch

🔍 Technical & Fundamental Analysis Summary Elliott Wave Structure: BSE appears to have completed a clear 5-wave impulsive rally from the ₹1,200 zone to a recent peak near ₹2,550. The current price action shows signs of Wave 5 exhaustion, often followed by a corrective ABC pattern. MACD Divergence: Bearish MACD divergence is visible—while the price made a new high, MACD histogram and signal lines did not confirm. This usually signals weakening momentum and a potential reversal. Anchored VWAP (AVWAP) Support Zones: Price is currently pulling back from the highs post-bonus issuance. Strong AVWAP supports are clustered near ₹2,195 and ₹1,970—these are key zones to watch for dip-buying or stabilization. Fundamental Strength: High ROCE and consistent profit growth make BSE a fundamentally solid stock. However, recent bonus share issuance may lead to temporary price correction as valuations adjust and profit booking sets in. ⚠️ Outlook & Strategy Short-Term View: Expect pullback or consolidation towards AVWAP supports. Medium-Term Bias: Bullish on re-test of ₹2,000–2,200 zones if volume confirms support. Risk Level: Elevated in the near term due to divergence and overextension.