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Viewing report
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Alpha India Indices - Integrated Ranking of the Major Indian Indices
Orpheus Capitals, Oct 2011, Pages: 5
Integrated ranking of the major Indian indices
We illustrated here the integrated (weekly and daily) Jiseki ranking of the major Indian indices. The weekly rankings suggest BSE Capital Goods, BSE Healthcare and BSE Consumer Durables as best performers, while BSE Power and NIFTY VIX are our two worst performers (sub 50% rankings). The majority of the indices (15 out of 17) fall in the upper half of the rankings. On a daily basis, we have BSE Consumer Durables, BSE Auto and CNXIT as best performers and NIFTY VIX, BSE Realty, BSE OIL and BSE Power as worst performers. The market bias is now negative as we expect another minor leg down till 4,500-4,000 supports to complete the intermediate corrective structure down. Sub previous resistances at 5,200 levels our preferred negative view remains valid. Enjoy the latest Alpha India Indices. NIFTY Weekly. Our preferred view remains negative on an intermediate level, suggesting an incomplete corrective (Y) wave down. Key targets lie at 4,500-4,000 levels.
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