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Viewing report
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Alpha India Indices - India vs. World
Orpheus Capitals, April 2011, Pages: 6
India vs. World
We went for beer to celebrate the Indian victory over Pakistan in the cricket semi finals on 30 March. A gentleman from Hoshiarpur (Punjab) made a smart forecast after India was through to the final. He said, 'Tomorrow the Sensex will open up in the morning move up 100 points and then close 200 points lower, making an intraday swing of 300 points'. What happened? The Sensex indeed moved up nearly 100 points, then moved down intraday 200 points lower than its previous close, and closed positive--an intraday swing of 300 points. Was it a known seasonality after the India-Pakistan match that I was unaware off?
The forecast really made me think. Even from an Elliott perspective this was one sub minor forecast I could not have known the anticipated swing till I was looking at 1 minute patterns from 31 March market opening. Cricket from a Socionomics perspective is a positive sport, which again gives it a bullish bias. Popularity of the sport in India keeps the multiyear outlook positive, but an intraday swing forecast was like an astro forecast for me.
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