BSE - Better to Safely Exit BSE Ltd has been in limelight offlate with the rumors of listing of its cousin NSE :) But let's do a deep dive analysis to see if it is safe to Hold / Buy BSE
1. On Quarterly Chart - the Price had a 4 year Rounding Bottom BO above 480 levels, followed by a Retest of BO zone with a Fib 0.618 Golden Ratio retracement
In the Long Term view - the price has COMPLETELY exhausted ALL possible "Extended" Targets of Fibonacci up until 4.764 levels without ANY retracements in the Quarterly chart. After completely reaching all targets, price is now retracing from 4.764 level as well. Also, the price broke out of multi-year parallel Channel but giving it is retracing, it will definitely come inside the channel before end of this Quarter (Dec 2024)
So, given the Quarterly view - without a retracement - DON'T expect any more rally - any intermediate bursts would be a perfect Honey Trap to innocent retailers - SO AVOID
2. On Monthly Chart - the price took 2 small dips when it tested the Multi-year Parallel Channel around 2,500 levels and then at 3,265 level - thus forming a Double Bottom structure at 2,200 level
The Double Bottom target is 4,420 which has already surpassed. While forming Double Bottom on Monthly, the price took a Fib 0.382 retracement with Fib 1.0 target of 4,975 (which matches the Fib 4.764 target of larger quarterly pattern)
Also, on Monthly, the price has given a Massive 1,128% return within just 1.5 years since Mar 2023. How much more do you expect ??
As you can see - ALL possible Technical Targets have been met and its risky if the price falls within the long term parallel Channel
So, existing holders - Book 50% or take your Principal out.
STRICTLY NO FRESH Entries - until clear consolidation which will either be a Price consolidation by falling a minimum of Fib 50% or time consolidation by going sideways until it reaches the Bottom of the Parallel Channel - sometime until Dec 2025 or even later (depending on the angle it takes)
