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Viewing report
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Alpha India LE – Cadila Healthcare and Orchid Chemicals
Orpheus Capitals, Jan 2011, Pages: 3
Both RSI structures are non-confirming and suggest a potential minor reversal here. Cadila Healthcare seems to be completing a minor impulse up and the subminor structure looks like a Head and Shoulders reversal pattern which has already broken the neckline. Our first targets lie at 800 levels in the subminor case and 750 levels (previous fourth supports) on minor. Orchid Chemicals’ minor structure looks like a potential corrective Flat with a pending impulsive C wave down till key supports at 235-220 levels.
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