10 May 2021 ● 09:16 AM
The BSE Power index from the triangle between 2007 and 2020. Given that triangles mostly occur in 4th waves, that is the ideal structure for this time period. In the last year, prices have advanced to break out of this triangle pattern indicating that a longer-term 5th wave may have started. The recent price action shows potential for wave extensions inside the 1st impulse, which will then extend from 5 waves into 9 waves. This will be further confirmed if we go beyond last month's high of 2594.