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BSE Capital Good

15 Jul 2021 ‚óŹ 04:34 AM

The entire up move from the March 2020 low is in a channelized manner. The wave structure suggests that the BSE Capital Good index is currently in Wave 5 which is further getting subdivided. Within Wave 5, the BSE Capital Good index has completed Wave I and II, and currently, Wave 3 is in progress. In the forthcoming trading sessions, the BSE Capital index can possibly rise higher towards 26100 where Wave III will be equal to Wave I. In the medium-term, as Wave 5 unfolds. the BSE Capital index can attempt to rise higher towards the upper end of the rising channel which is currently pegged at 30650. On the way down, the recent weekly swing low of 22692 will be a crucial support level to watch out for. 

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