BSE Capital Goods Index

The capital goods sector has been through meaningful recovery, which is also the 3rd wave from the bottom in September. Looking at the channel wave 3 is complete with a throw over above the upper line. This can sometimes we also followed by a throw under below the lower line in wave 4. Whether that happens pricewise or timewise needs to be seen. But a 4th wave correction is coming before wave 5 can start.