NIFTY. Weekly Jiseki turns up
The market bias remains positive now that NIFTY looks ready to break true trendline resistances at 5,700 levels. Both weekly and daily Jiseki cycles confirm our view with positive crossovers. A break here would further confirm that the intermediate correction down is complete. This also means that a new intermediate high above 6,350 levels is not out of the question.
The chart below depicts the integrated weekly (blue) and daily (grey) ranking of the Indian indices. On the daily basis, BSE Consumer Durables, BSE Auto and CNXIT are the best, while NIFTY VIX, BSE Realty and BSEOIL are the worst. On a weekly basis we have BSE Capital Goods, BSE Healthcare and BSEOIL at the top and BSE Power, NIFTY VIX and CNX 100 at the bottom of the rankings.
NIFTY Jiseki Weekly. The weekly Jiseki cycles make a positive crossover, suggesting that the intermediate corrective structure down is complete.
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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.