Waves.India – Evening Star Special

Evening star is a bearish candlestick pattern that consists of three candles. The first bar is a large white candlestick located within an uptrend (white body 1). The middle bar is a small-bodied candle (black or white) that closes above the first white bar (star). The last bar is a large black candle that opens below the middle candle and closes near the center of the first bar’s body (black body 2).
This pattern is used by traders as an early indication that the uptrend is about to reverse. Evening star formations can be useful in determining trend changes, particularly when used in conjunction with other indicators, oscillators, trendlines for confirmation.
The latest Waves India showcases the evening star across indices and across time frames. In some cases stars are also hanging man formations. In some cases evening star formation highs are retested. In some cases evening star formations come after a multi month sideways action suggesting potential distribution formation. In some cases we have two stars between the white and black body. In some cases we have a doji star instead of a star formation.
This means a broad confirmation that the intermediate multi week trend is down. Any bounce backs now are an illusion. The negative trend might remain negative for a few months. So sit tight, look at price confirmations, and enjoy the ride. The journey down has just started.

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Michesan Anna-Maria, the columnist for the WAVES.INDIA weekly and 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.
India Accuracy Report 2009
Alpha India
‘Performance cycles’ is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.
ORPHEUS INDIA RESEARCH
WAVES.IND is a perspective product published on Tuesday and Thursday. The report highlights Indian Stock Market top sectoral Indices and Sensex (BSE 30) viz. BSEOIL, BSESC (Small Cap), BSEMC (Mid Cap), BSEHC (BSE Health Care), BSEPHARMA (Pharmaceuticals), BSECG (Capital Goods), BSEBANK (Banking), CNXIT (Technology), BSEFMCG (FMCG), BSEAUTO (Auto) etc.. The product also covers all the 30 Sensex components. The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers.
COVERAGE: REUTERS RICS. INDICES. .BSEBANK, .BSEOIL, .NSEI, .BSECG, .BSESN, .BSEAUTO, .CNXIT, .NSEBANK, CITc1, IFc1, .NSEBANK
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