Channels.India – ACC. Anticipated and happened

SUMMARY: ONGC DAILY Prices continue to hold key support levels at 1,080 levels. We need a clear break below respective levels to look for an extension of the 3/C wave down. Performance cycles are still bottoming. GRASIM WEEKLY Our corrective FLAT scenario is still valid. Key targets lie at psychological 2,000 levels. Performance cycles are heading to a performance top. ACC DAILY Anticipated and happened Prices break key FIB supports as anticipated. The current retracement could push lower till psychological 800 levels. ITC DAILY Prices continue to hold neckline supports at 245 levels. We need a clear break below respective levels for a negative confirmation. Performance cycles suggest further underperformance of ITC in the weeks ahead. CIPLA DAILY The third leg down seems incomplete. We could see another push lower till key 290 levels. Performance cycles are topping and suggest further underperformance of Cipla in the weeks ahead.
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‘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.
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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