BSE 500

The BSE 500 has risen to a new high in 3 waves so is it wave b of an expanded flat. A meaningful RSI divergence also may develop here if prices drop. 


The hourly chart shows a triangle like formation in wave c above so the triangle maybe complete today and prices have still not broke out of the range. A bullish breakout would mean that the triangle is wave iv of an advance. Otherwise the triangle should mark a distributive top.