BSE Ltd – Strong Breakout with Cup & Handle Formation 🚀

This chart of BSE Ltd on the weekly timeframe is showing a high-probability breakout setup backed by multiple confluences. Technical Breakdown The stock has formed a classic Cup & Handle pattern, which is one of the most reliable continuation patterns in trending markets. The rounded base indicates long-term accumulation, followed by a shallow handle showing controlled profit booking. Now, the key highlight: Resistance Zone (~₹3,050–₹3,100) has been decisively broken Strong bullish candle with momentum confirms valid breakout Volume expansion (visually implied) supports institutional participation Elliott Wave Perspective From a structural view: The cup formation aligns well with Wave 2 correction Current breakout likely marks the beginning of Wave 3, which is typically the strongest and fastest wave Momentum & Trend Confirmation Price is sustaining above the breakout zone → previous resistance turning into support Trend structure: Higher Highs + Higher Lows intact No visible bearish divergence → momentum remains strong Target Projection Measured move from the pattern suggests: Upside Potential: ~25–30% Target Zone: ₹3,800–₹4,000 Risk Management Immediate support: ₹3,050 Strong support: ₹2,800 Invalidation: Breakdown below handle zone Conclusion BSE Ltd is currently in a high-momentum breakout phase, supported by: Strong price structure Classic bullish pattern Clean resistance breakout