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BSE Healthcare

9 Jul 2021 ‚óŹ 04:33 AM

The long-term wave counts of the BSE Healthcare index suggest that it is in a larger degree Wave 3. In the long term, Wave 3 can possibly push the BSE Healthcare index higher to 41000 levels and that will be the point where larger degree Wave 3 will be equal to larger degree Wave 1

However, on analyzing the sub-divisions within larger degree Wave 3, it appears that within larger degree Wave 3, BSE healthcare has completed smaller degree Wave 1 and 2 and Wave 3 of larger degree Wave 3 has probably started. Now if that is true then the BSE Healthcare index can rise higher towards 31575 where smaller degree Wave 3 would be equal to smaller degree Wave 1. In the forthcoming weeks, 20DMA and 40DEMA, which are currently pegged at 25382 and 24928 respectively, should provide support on the way down. 

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