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Alpha India LE: Tisco and Hindalco - Anticipated and Happened
Orpheus Capitals, May 2011, Pages: 5
Tisco and Hindalco. Anticipated and happened
Today’s Alpha India report carries two anticipated and happened cases on Tisco and Hindalco, best performers of the BSE Metals sector. Both price structures broke neckline supports as anticipated, validating the head and shoulders reversals. Sub 580 levels in the case of Tisco and 200 levels in the case of Hindalco our preferred negative view remains valid. The market bias remains negative as NIFTY is retesting the true trendline at 5,400-5,450 levels, while the daily RSI is also retesting 40. We also carried the best and worst performers of the Indian Late Economic sector. The best performers are the ones ranked above 80%, while the worst ones are ranked sub 30%.
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