BSE FMCG versus NIFTY

BSE FMCG made a new minor high while most of the Indian indices were correcting down. We plotted the relative performance between NIFTY and BSE FMCG and the structure looks like a potential head and shoulders reversal (slide 1). This means that NIFTY should continue to underperform FMCG and, even if FMCG has not topped yet, the blue chip index could continue to push lower.
Today’s Alpha India report also carries technical cases on BSE FMCG (slide 2), NIFTY minor and subminor (slides 3 and 4) and NSEBANK (slide 5).

Alpha is a daily strategy signal product that gives trading and investment signals. Alpha is a numeric Ranking product based on TIME fractals. The signals are illustrated through tracker and running portfolios. Alpha can be used by fund managers for relative allocations, traders for leverage bets and high net worth clients for selective trades. Alpha is a part of the time triads analytics developed by Orpheus Research.
Coverage India: CNX100 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.