BSE Healthcare Index

The healthcare index has started to make new highs without much of a correction. It can mean that we are not seeing any pause but an extended rally. The only way we will know if a corrective phase is going on is if prices fall back below the 20 DMA which is currently at 23,135. On the other hand, the new high in the sector index could indicate that wave III has started, and that means that the index may be headed towards 27,800 where III=I