India, mid-economic worst performers

The updated Jiseki rankings continue to suggest Punj Lloyd and BHEL as the worst performers of the Indian Mid Economic sector. Today’s Alpha India report carries technical cases on the respective stocks now that the market bias is positive for the days ahead. Punj Lloyd seems to be starting a new impulsive wave up (slide 3), while BHEL could make a new minor low or at least retest previous lows before any sustained upside (slide 2).
The market bias is now positive as NIFTY looks ready to break subminor trend channel resistances at 5,520 levels and head higher till 5,600-5,700 levels in the ongoing corrective X wave up.
Enjoy the latest Alpha India.

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.