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Viewing report
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Alpha India Stocks - Mid Economic shorts (The Crompton Case)
Orpheus Capitals, May 2011, Pages: 7
Crompton is one of the best Mid Economic performers on both weekly and daily rankings and a top potential short for the weeks ahead.
Here’s why: We plotted the relative Jiseki between the stock and its sector, BSE Capital Goods and, as it turns out, Crompton has been outperforming the index since August 2009 (slide 1). The individual Jiseki cycles of Crompton have negative crossovers and confirm a reversal from the extreme rankings (slide 4). The intermediate price structure looks like a head and shoulder reversal, while the subminor structure looks like the beginning of a larger impulse down. A break sub current supports at 235 would further confirm our negative view (slides 2 and 3). The market bias remains negative as NIFTY looks ready to break true trendline supports at 5,450-5,400 levels and rush lower till 5,200 or even lower.
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