Indices
Monday, October 18, 2010
BSE MIDCAP INDEX
BSE MIDCAP:
BSE MIDCAP closed in 8311.66 on 15-10-2010. It has completed wave-(I) of 3 & it has confirmed by weekly negative close. Its daily momentum indicators KST\MACD both are in sell showing sign of weakness.
We may expect short term correction of wave-
(II) in BSE MIDCAP till high of 8515.90 not surpass. It can go till 7975 (Crucial Support) in short term. Fail to hold this support will lead to further correction till 7500-7300. One should watch the levels mentioned above carefully for any new action.
Trader should use rise to exit long & create fresh shorts in BSE MIDCAP segment.
BSE MIDCAP closed in 8311.66 on 15-10-2010. It has completed wave-(I) of 3 & it has confirmed by weekly negative close. Its daily momentum indicators KST\MACD both are in sell showing sign of weakness.
We may expect short term correction of wave-
(II) in BSE MIDCAP till high of 8515.90 not surpass. It can go till 7975 (Crucial Support) in short term. Fail to hold this support will lead to further correction till 7500-7300. One should watch the levels mentioned above carefully for any new action.
Trader should use rise to exit long & create fresh shorts in BSE MIDCAP segment.