The trend is strong
IPCA CMP 1470
Elliott- thats an expanded flat corrective pattern on the right. The C wave is 1.618 of A. Hence to me the correction is over.
Fibs- the correction has halted at 50% from a higher swing. This is strength.
RSI- the oscillator has halted above the bull zone. Hence the trend is intact.
Conclusion - to me this is still a very good buy as the trend is intact and strong. The Pharma sector is yet another sector that should outperform the Nifty.
Elliott- thats an expanded flat corrective pattern on the right. The C wave is 1.618 of A. Hence to me the correction is over.
Fibs- the correction has halted at 50% from a higher swing. This is strength.
RSI- the oscillator has halted above the bull zone. Hence the trend is intact.
Conclusion - to me this is still a very good buy as the trend is intact and strong. The Pharma sector is yet another sector that should outperform the Nifty.
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