CHANNELS.INDIA – EARLY ECONOMIC
SUMMARY: DLF DAILY (DLF) The B wave up should complete near current levels, after which we could see a sharper downmove to validate the potential DOUBLE TOP pattern. HDFC DAILY (HDFC) 75 days of sideways action above open gap levels. No clear sign of a trend yet. HDFC BANK DAILY (HDBK) Same 75 days of sideways action. ICICI BANK DAILY (ICBK) Prices continue to move in a sideways action in the 600-800 price range. STATE BANK OF INDIA DAILY (SBI) The sideways, choppy action keeps us up but topping than otherwise. INFOSYS DAILY (INFY) Prices are pushing higher to complete the intermediate impulse up. Key resistance levels lie at 2,250. TATA CONSULTING SERVICES DAILY (TCS) Our ALTERNATE scenario sees this as a completing C wave up. RSI non-confirmation also suggests an exhausting upmove. Key resistances lie at 590. MAHINDRA DAILY (MAHM) Moving average crossover is ready to turn negative. TITAN INDUSTRIES DAILY (TITN) The choppy action continues. Prices are still above neckline levels. UNITECH DAILY (UNTE) Prices continue to hold below previous high levels. Momentum non-confirmation suggests weakness in the price action.
Login to the member’s area to read the report here.
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