Trend Table for IVCA - Investcorp India Acquisition Corp.

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 26	D	Strong	Up	Up	Flat	5.10%
Dec 22	C	Strong	Up	Up	Flat	5.10%
Dec 21	C	Strong	Up	Up	Flat	5.20%
Dec 20	C	Strong	Up	Up	Flat	5.10%
Dec 19	B	Strong	Up	Up	Flat	5.10%
Dec 18	B	Strong	Up	Up	Flat	4.82%
Dec 13	B	Strong	Up	Up	Flat	4.82%
Dec 12	B	Strong	Up	Up	Up	4.82%
Dec 11	B	Strong	Up	Up	Up	5.01%
Dec 8	B	Strong	Up	Up	Up	5.06%