Indices
Wednesday, MAY 19, 2010
BSE SMALLCAP INDEX
BSE SMALLCAP: (Bearish)
It has closed @ 8588.48 as on 19\05\2010. It has formed expanded Flat pattern as per wave Count. It has completed wave-B pull back at high of 9292.56 on 30\04\2010.
It is now in wave-C of (iii) decline. It has target1- 7926 & target2-7750. . One can watch it around these levels. Momentum Indicators are also confirming the weakness.
One can use every bounce to Liquidate Long from small cap stocks & create fresh shorts at higher levels.
It has closed @ 8588.48 as on 19\05\2010. It has formed expanded Flat pattern as per wave Count. It has completed wave-B pull back at high of 9292.56 on 30\04\2010.
It is now in wave-C of (iii) decline. It has target1- 7926 & target2-7750. . One can watch it around these levels. Momentum Indicators are also confirming the weakness.
One can use every bounce to Liquidate Long from small cap stocks & create fresh shorts at higher levels.