Hi!
I live in the states but have been tracking the BSE, plus several other country's stock indices for some time now. A friend suggested I post my findings here for your review from an outsiders perspective.
The bull market in the BSE started in Oct 2001. Primary wave 1 peaked in the spring 2002 and Primary 2 ended in the fall of the same year. From that point on, the BSE rallied in a Primary wave 3 which topped in Jan 2005. Then an irregular Primary wave 4 correction ended in the spring of 2005. From the April 2005 low I can now count three Major waves: Oct - Nov - Apr, with two more waves to go to complete Primary wave 5.
Short term: the BSE might have just ended Major wave 3 on friday with its attempt at 12,000. A close below 11,000 will confirm that count. Major support is at 10,000 - 10,500.
For a look at the BSE charts and many others visit my blog:
http://spaces.msn.com/caldaroew/
And click on the chart link to the right.
Best to your investing!
tony
I live in the states but have been tracking the BSE, plus several other country's stock indices for some time now. A friend suggested I post my findings here for your review from an outsiders perspective.
The bull market in the BSE started in Oct 2001. Primary wave 1 peaked in the spring 2002 and Primary 2 ended in the fall of the same year. From that point on, the BSE rallied in a Primary wave 3 which topped in Jan 2005. Then an irregular Primary wave 4 correction ended in the spring of 2005. From the April 2005 low I can now count three Major waves: Oct - Nov - Apr, with two more waves to go to complete Primary wave 5.
Short term: the BSE might have just ended Major wave 3 on friday with its attempt at 12,000. A close below 11,000 will confirm that count. Major support is at 10,000 - 10,500.
For a look at the BSE charts and many others visit my blog:
http://spaces.msn.com/caldaroew/
And click on the chart link to the right.
Best to your investing!
tony