BSE Power

BSE Power index completed wave 4 recently. Post the breakout from the falling wedge pattern, it appears that the BSE Power index is possibly gearing up for the next leg of up move in the form of wave 5. As wave 5 unfolds, the BSE Power index can re-test the high of wave 3 i.e. 3084. On the way down, the 20 DMA of 2657 and the low of 2582 will be crucial support levels to watch out for.