Trend Table for IVCA - Investcorp India Acquisition Corp.

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jan 16	A	Strong	Up	Up	Flat	4.25%
Jan 12	B	Strong	Up	Up	Flat	4.44%
Jan 10	B	Strong	Up	Up	Flat	4.53%
Jan 9	B	Strong	Up	Up	Flat	4.53%
Jan 8	B	Strong	Up	Up	Flat	4.53%
Jan 5	A	Strong	Up	Up	Flat	4.61%
Jan 4	A	Strong	Up	Up	Flat	4.61%
Dec 29	B	Strong	Up	Up	Flat	4.91%
Dec 28	B	Strong	Up	Up	Flat	4.82%
Dec 27	B	Strong	Up	Up	Flat	4.91%