Channels.Ind – Telecommunications complete correctives down

SUMMARY: IDEA DAILY (IDEA) The corrective structure down seems complete. Above key 55 levels we should get more positive confirmation. BHARTI DAILY (BRTI) Prices bounced back from key FIB supports. The minor trend turned up. Key levels lie at 350. MAHAGANAR DAILY (MTNL) Prices bounced back from key supports near 65 levels. We are not ruling out the possibility that this could be an incomplete minor impulse down. TATA COMMUNICATIONS DAILY (TATA) Prices continue to hold key supports at 350 levels. Above respective levels we consider the corrective structure down complete. ASHOK DAILY (ASOK) Prices seem to be in a corrective FLAT structure which could push lower till key 50-46 before anything. CROMPTON DAILY (CROM) We are not ruling out an extension of the fifth leg up till psychological 500 levels. BLUE STAR DAILY (BLUS) Prices continue to hold neckline supports. TATA MOTORS DAILY (TAMO) Prices are completing the impulsive structure up. Key resistance levels lie at 700-750. LARSEN 60MIN (LART) The current formation looks like a corrective structure up. Key resistances lie at previous highs and key FIB levels at 1,700. BHARAT HEAVY DAILY (BHEL) Prices continue to move in a corrective structure down which could push lower till psychological 2,000 levels.
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CHANNELS.INDIA is our second perspective product published on MONDAY, WEDNESDAY and FRIDAY. The report uses conventional technical tools and covers most top traded stocks. The report illustrates key price levels, price targets, price projections and time turn windows. WAVES.INDIA, CHANNELS.INDIA are bundled together as PERSPECTIVE products. Unlike WAVES which focuses more on blue chips, CHANNELS covers the other mid cap and small cap stocks also. CHANNELS.INDIA carries the Early Economic cycle sector components, which includes FINANCIAL and DISCRETIONARY sector stocks, the Mid Economics cycles sector which includes INDUSTRIAL sector stocks and the Late Economic Sector cycle including ENERGY, STAPLES, UTILITIES, PHARMA, CHEMICALS sector stocks. REUTERS EARLY ECONOMIC RICS DLF.NS, HDFC.NS, HDBK.NS, ICBK.NS, SBI.NS, INFY.NS, TCS.NS, MAHM.NS, UNTE.NS, TITN.NS REUTERS MID ECONOMIC RICS ASOK.NS, TAMO.NS, CROM.NS, BHEL.NS, LART.NS, MTNL.NS, IDEA.NS, BRTI.NS, RLCM.NS, TATA.NS REUTERS LATE ECONOMIC RICS ONGC.NS, RLIN.NS, NTPC.NS, ACC.NS, HALC.NS, TISC.NS, ABUJ.NS, CIPL.NS, RANB.NS, ITC.NS
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