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Viewing report
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Alpha India – Mid Economic Rankings
Orpheus Capitals, Feb 2011, Pages: 3
Mid Economic Rankings
Punj Lloyd and BHEL are the worst performers of the Indian Mid Economic sector. Both minor structures look like completing W-X-Y corrections down. BHEL continues to hold psychological 2,000 supports. Above respective levels we are waiting for further positive price confirmation. Punj Lloyd also looks like an exhausting structure down. The daily RSI is non-confirming and made a potential double bottom reversal formation. Bharat Forge and Siemens are the best performers of ME. Bharat Forge looks like an ongoing impulsive C/3 wave down which should complete near key Fibonacci supports at 300-280. Siemens looks like a completing ending diagonal structure which suggests a potential intermediate reversal ahead (updated on slide 2).
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