>Pharma Index update

Hi friends,

                     Lat time when i had posted on pharma we got a good 1000 points rally .

Can see last update PHARMA INDEX .Now the index is hovering near breakout from the channel

Above 10000 on pharma index individual stocks in pharma space can give very good return .To name few Cadila,Star ,Glenmark and Cipla.

Reliance Communication Bottom in?

Hi friends,

                  Went through R COM chart looks interesting ,Monthly chart hints a important bottom in place lets look at the chart.

The trendline touching important lows maintained even in deep dump gives confidence about levels.

Grinding deep in chart looking at daily time frame the fall E wave shows a good 5 wave down with 5th extension.The bad debt and failed deals were responsible for extended fall. more over a very important support of 46 got breached though the price tried to hug that level for quite sometime .

Let me put daily time frame chart for  clear waves  .

Look at the above chart so clear waves with extension in 5th wave .Stock made a panic low near 10 and has recovered handsomely after that ,First sign of reversal in this stock is a close above 18. Above 46 longterm reversal for stock . Overall stock looks good for longs in dips.

>Star Wave analysis

Hi Friends,

                   Went through Star chart pattern looks interesting.Lets expand the chart,The stock has not performed much in the recent pharma rally.

The above chart shows the stock is in correction mode since start of 2016.We can see w and x is done and y is on the pattern is still in making though a good small long trade looks set.

As long as stock holds 830 a retest of 924 and even 990+ is possible .A good level to enter can be 860-855.Keep this stock on radar for long term reversal too.

>SBI chart

Hi friends ,

                     Looking at SBI chart,Anice impulse from 2016 lows completed near 310+ in aug 2017 let me put the chart to show that.

The impulse is a text book impulse following golden rules 3=1.6(1) and 5 almost equal to 1 .

After 5th up we are nearing end of a impulse in shoter timeframe let me put that chart too.

current situation 265 is strong support,As long as 260 holds the stock can do 290+ .Lets see how stock performs in coming time.