Waves.India - Subminor to primary

The Elliott wave theory works across time frames, from 1 minute to weekly or monthly charts. It is easier to understand the subminor count if we know where we are heading on a multi-week time frame. And a multi-month timeframe can be understood by positioning it in the multi year picture.

Our latest Waves.India report carries subminor to primary counts on the main Indian indices. Nifty broke key 5,000 levels, confirming an extended preferred impulse down (slide 1).

The larger picture continues to look negative. The preferred primary view suggests a large Y circle wave down till near 3,000. Meanwhile the alternate view considers a second wave retracement till previous (4) levels (slides 4 and 5). The main sector indices are also suggesting at least an intermediate correction down which could last well into end of Q3 2010. We also carried an anticipated and happened case on Nsebank subminor.

Enjoy the latest Waves.India.

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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.


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.


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