The Healthcare index that captures the Pharma sector gave up in the last two days. The rise is a-b-c, a 3 wave pattern, and overall an X wave in a larger decline for the sector. Wave Z down should mostly start, that should see a new low again at the lower end of the 2 year falling channel near 12500.
Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd