Hindalco and JSW Steel

Hindalco Daily. Prices turned back down after retesting the neckline near 200 levels. The head and shoulders reversal remains valid and suggests further negativity ahead. Our first target lies at 170 supports. Any bounce from current supports (A wave lows) is an opportunity to take new short positions.

JSW Steel Daily. The minor structure looks like a potential head and shoulders continuation patter. Neckline and trend channel supports lie at psychological 900 levels. A break sub respective supports would push prices lower till our target at 750 levels.

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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.