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CNXSMALLCAP - Has it completed a larger degree wave ?

Nifty SmallCap 100 Index (NSE:CNXSMALLCAP)  
ShanTrader Updated   
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 ?
Comment:
That seems to have been a massive drop in the index today !!
Comment:
The index has lost more than a 1000 points until now !!!
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