CHANNELS.INDIA – EARLY ECONOMIC
SUMMARY: DLF DAILY (DLF) This continues to look like a potential DOUBLE TOP formation. We need a clear break below the neckline at 260 levels to validate the pattern. Time cycles also suggest further downmove. HDFC DAILY (HDFC) Prices continue to move sideways above open gap levels. We need more price confirmation before anything. HDFC BANK DAILY (HDBK) The (y) wave down looks incomplete and we could see a final leg down before anything. Key levels lie at 1,370. ICICI BANK WEEKLY (ICBK) Prices continue to move in a sideways action. Momentum non-confirmation suggests further downmove. STATE BANK OF INDIA WEEKLY (SBI) Momentum non-confirmation keeps the alternate scenario alive. INFOSYS DAILY (INFY) Momentum non-confirmation continues to suggest weakness in the upmove. TATA CONSULTING SERVICES DAILY (TCS) Prices continue to hold key 550 levels. We should see further retracement now. MAHINDRA WEEKLY (MAHM) RSI points lower from current levels. TITAN INDUSTRIES DAILY (TITN) Momentum non-confirmation continues to suggest an exhausting upmove. UNITECH DAILY (UNTE) The current structure still looks like a w-x-y corrective which should resolve lower.
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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