THE INDIA REPORT

“In early 2013, India passed Japan to become the world’s third largest economy.”
Source: OECD

India Research Using the Power of Cycles

Both domestically and abroad, more and more investors are taking notice of the India market. Since economic reforms were instituted in 1991, India has been on a tear, becoming one of the fastest-growing major economies in the world. In fact, some predict it will overtake the US in 40 years.

Following requests from clients, Charles Nenner Research has created a unique, independent newsletter focused on India. The India Report is sent weekly by E-mail and includes the following areas:
Rupee, Sensex, CNX Nifty EPI, INP, PIN, HUL, TCS, TATA MOTORS, CIPLA, ITC-BOM, COAL INDIA, HCL TECH, INFY, RIL, DLF, SBI, ICICI BANK, AXIS BANK, BHEL.

All analysis included in The India Report is conducted using the proprietary cycle based system developed by Charles Nenner.
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Sample India Report .. from August 25, 2013

Rupee (USD/INR)

The Rupee reached our downside target of 65 USD/INR
We feel that 65 USD/INR is as significant decision point where the Rupee will either correct back to the 60-61 USD/INR area, or accelerate toward the 72 USD/INR area
Meanwhile, the sell signal from 59.73 USD/INR continues, as long as there is no close below 62.21 USD/INR
Daily cycles are down for the Rupee until the end of SEP, while weekly cycles are down until early NOV

Sense Index and CNX NIFTY

Both the Sense and the NIFTY continue on a sell signal, as long as there are no close above 18770 for the Sense, and no close above 5554 for the NIFTY
While the daily cycles are now close to a projected cycle low, the weekly cycles look toppy
Therefore, for now, we stand aside

Cipla Pharmaceutical

Cipla closed below 404, and is now on a sell signal
Daily and weekly cycles are still up until the end of the month, so we could see a bit of a bounce
However, the sell signal stays on, as long as there is no close above 405

Infosys

Infosys missed our 3130 upside target by less than 1%
The buy signal continues, as long as there is no close below 2960
Daily cycles topped, and are down until the end of SEP

Reliance Industries

The sell signal from 875 for Reliance Industries continues, as long as there is no close above 840
Cycles are down until mid SEP

State Bank of India

Daily cycles are down until SEP 23 for State Bank of India
However, a close above 1694 will cancel the sell signal

Tata Consultancy Services

TCS closed above 1815 and cancelled its sell signal – short term
Daily cycles are down until SEP 18
We stay on the sidelines for the moment

Bharat Heavy Electricals

BHEL is on a sell signal from 179
Daily cycles are down until AUG 26
A close above 117 will cancel the sell signal

Indian Hotels

Indian Hotels closed above 43 and cancelled its sell signal – short term
Daily cycles are still down until the end of AUG
A close above 44.70 will be a new buy signal

ICICI Bank

ICICI closed above 850, and the stock is again on a buy signal
Weekly cycles are up until mid OCT

Tata Global

The sell signal in Tata Global from 152 continues, as long as there is no close above 153
Daily cycles topped, and project again a cycle low around mid-SEP
Our downside target is around 110

Wipro

The buy signal for Wipro continues, as long as there is no close below 432
Daily cycles look toppy, but project a cycle low again by early SEP

© copyright Charles Nenner Research Centre 2013 # 029 – Charles Nenner Research – India Report – August 25th 2013 Sunday

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