Adam Smith Associates - You can expect near term correction in BSE Metal Index


The BSE Metal index can be marked as 5 waves up so do not be surprised if a near term correction shows up. A 38% to 50% retracement is normal up to 10700 or 10500. However this should be the first impulse wave of a larger trend up for the sector. So will need to watch out for a re-entry point.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article is purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

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