WAVES.INDIA – Refocusing on performers

REFOCUSING ON PERFORMERS
Even if we would like to take solace in the fact that NIFTY is struggling 11% up from July lows fulfilling our July H12009 outlook, the fact of the matter is that other sectoral indices have outperformed and pushed much higher than July levels.
The more we get into understanding markets, the more we realize how little we know and how tracking one performance on one asset happens at the cost of overlooking performance on another asset. No one can fool an investor better than the market. No wonder we have the most books written on understanding markets.
How do we evolve research and provide value in such market situation? Will the reader be happy if we just give him a good call on the benchmark, missing sectoral plays? And how good is the call on a blue chip index anyway, if the best approach at a certain time was sectoral? How to capture real alpha, long or short?
Over the next few weeks and months, we will be integrating the Elliott approach with Numeric Ranking, sectoral calls with clear investing horizons. The aim is not to dilute the fractal perspective, but make it sharper by focusing more on where the action is.
Coming back to the WAVES.INDIA this week, the five wave impulses are clear across sectoral indices. The structures still look incomplete, means there is further upside left. We are seasonally still in a positive time and with the larger primary bull behind us, no negative price confirmation behind us, we can only look higher. Another 5-10% on a few sector indices like CNXIT, OIL, FMCG should be easy.
Enjoy the latest WAVES.INDIA
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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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