This post shows how we traced and projected a path of the BSE Power Index.
As this is not a trade-able instrument, how is this useful ?
One could simply trade the top 3-5 companies that make up the Index as those would have the highest weightage in the index.
BSE Power Index Elliott Wave Analysis. As on 12 Nov 2020. CMP 1861
Target above 1800 has been met. We are now neutral on the Power Index.
Count 1 : Note the larger count is pure hypothesis. Wave B target has been met, but could rally further.
Count 2 : This count shows a decline is due but the larger rally is not complete. Again, larger count is pure hypothesis.