CNXSMALLCAP - Has it completed a larger degree wave ?

Nifty SmallCap 100 Index (NSE:CNXSMALLCAP)

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NSE:CNXSMALLCAP Nifty SmallCap 100 Index

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This on request from Avoudhut2411 . The Smallcap Index seems to have moved up in clear 5 waves. We cannot be completely sure that wave 5 is complete but the index is ripe for a correction at a larger degree. Any comments ?

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That seems to have been a massive drop in the index today !!

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The index has lost more than a 1000 points until now !!!

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