Alpha India LE – Cadila Healthcare and Orchid Chemicals

Both RSI structures are non-confirming and suggest a potential minor reversal here. Cadila Healthcare seems to be completing a minor impulse up and the subminor structure looks like a Head and Shoulders reversal pattern which has already broken the neckline. Our first targets lie at 800 levels in the subminor case and 750 levels (previous fourth supports) on minor. Orchid Chemicals’ minor structure looks like a potential corrective Flat with a pending impulsive C wave down till key supports at 235-220 levels.

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Coverage India: BSE500 traded stocks and Indian Indices.
Michesan Anna-Maria, Head of India Research. Anna discovered her interest of markets immediately after completing her graduate studies in Economics. She followed it up with post graduate studies in corporate finance. A host of research work in behavioral finance, option strategies and quantifying market sentiment followed. Anna covers Indian equity and combines Elliott, Time Fractals and Time Analytics to deliver accuracy across time frames. To review some of her work, check out the annual India accuracy report 2009.