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Alpha India Early Economic - Early Economic Top Performers
Orpheus Capitals, Oct 2011, Pages: 7
Early Economic top performers
The chart included in this report is an extract from the ranking of the CNX 500 components. It illustrated the top five best performers of the Indian Early Economic sector. The stocks (SHRIRAM TRANSPORT FINANCE, UNITECH, LIC HOUSING FINANCE, BAJAJ AUTO and AXIS BANK) are all ranked above 90% rankings on a 3 month timeframe. The current report carries Elliott counts on the respective five stocks. The market bias is positive for the day, as we are looking at another minor leg up till 5,200 resistances in the case of NIFTY. LIC HOUSING FINANCE Daily. The minor structure looks like the beginning of the impulsive (C) wave down which should push lower till at least previous (A) wave lows near 150 levels. BAJAJ AUTO Daily. Prices marginally broke previous intermediate highs and are now retesting true trendline supports (red line). The structure looks like an ongoing expanded diagonal with a pending C circle wave down till at least previous A circle wave lows at 1,200 levels.
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