BSE Healthcare Index

The BSE healthcare index has started a long-term 3rd wave that could take it all the way above 40,000. Wave 1 took 9 months to complete and therefore this may be achieved in a similar time period if not longer. From the recent low, it is almost a hundred percent of and will further confirm once the index goes past the wave 1 high of 22,464. Some of you may argue about the short retracement, but as we have seen recently, strong trends have been accompanied by shorter retracements. For example, look at wave 2 of 1 in this chart that occurred one year ago.