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Mentorship

Mentorship

BSE Healthcare Index

23 Feb 2021 ‚óŹ 03:02 PM

In my last post I was expecting wave 5 to extend but now it looks like wave 5 ended shorter than usual. Wave iv was already a triangle. We now have a negative divergence in the weekly Momentum or RSI, and close to breaking the 20dma at 20840. Below that we think that wave 1 ended at the recent top and a larger wave 2 down is going on. The next support would be the lower Band at 19000. We may have to remain open to deeper retracements till a bottom is established

The next support would be the lower Band at 19000. We may have to remain open to deeper retracements till a bottom is established

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