Indices
Thursday, February 28, 2013
BSE500, BSEMIDCAP , BSE SMALLCAP & NSE MIDCAP:
Attaching all four charts pointing today’s sell off was last & final stage of recent correction started from TOP. These all Indices has completed 5 wave declines from TOP as per chart attached & most of it completed today in parallel channel form.
Its sign of panic bottom & many people were expecting pre-budget rally that may now turn out to be Post budget pull back rally or post-mortem rally.
By looking these all charts, chances of pull back rally from these levels looks very high. Daily positive close across board will be a good & advance confirmation for this view.
One should look market behavior around these levels for reaching final conclusion.