It could be too early to suggest whether Z-wave is completed or takes another complex form itself but yes butterfly can help to give some relief next few days
Long Term Analysis We need move above X-factor@732 - Double Top which will suggest that correction is done & out & we will be looking for all greens in pharma sector.
Previous Update - Z Wave Fall in place@432 from 700 Levels.
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13:22 Hrs 16th Aug2017
Last Price@482
Opens in 470-473"s & had pushed upside so far but not happy with this choppy move upside & shall be cautious downside.
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14:42 Hrs 16th Aug2017
Last Price@484
Now we will take a break & join back only above 485. Enjoy!
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07:46 Hrs 17th Aug2017
Last Price@485
Below 485 - We are not interested & look for re-entry in 470-475 Zone. Which needs to be checked once we get markets moving.
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14:03 Hrs 17th Aug2017
Last price@484
If it holds next couple of hours in the range 475 to 485 then likely we see sunpharma jumping or bouncing to 510-515 Zone where we likely exit next. In betweet there is gap zone close to 495 - keep a watch for the same as gap zones can act as next resistance.
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13:02 Hrs 18th Aug2017
Last Price@471
Gap Zone 490-495 has shown resistance & it could not cross the same.
Infosys was the culprit for the day falling 100 points.
Thanks for your valuable update on Sun Pharma. Please keep updating on this . I have been holding this for a long time .Followed the axiom that good shares are kept for long time . I missed all the profits and did not get out. But now I realise that one must pluck the fruits at the appropriate time. No share is good for ever.
@SatyamMishra, At 471 - It is very tricky - so I won't suggest anything.
MpJegan
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Could you please tell a range for long term investment..Been adding in fraction since 650
WaveTalks
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@MpJegan, The way it is moving upside is not looking convincing below 450 - it is looking downside - levels downside are not clear, upside major confirmation comes only above 732- in that case bottom will be in place.