BSE 500

Unlike the Nifty the Broad market indices like the BSE 500 and Mid/Small cap indices all topped on 03/09, a few days later. So the minor wave counts on hourly charts can differ. The BSE 500 could be a wave 2 bounce in a right shoulder. From here the next move down should be wave 3. If the neckline breaks we would be looking at a major move back to the June lows.