Channels.India – Early economic – Elliott and performance cycles

SUMMARY: HDFC DAILY (HDFC) Prices bounce back from key FIB supports near 2,300 levels. Performance cycles are bottoming and suggest further outperformance of HDFC in the weeks ahead. HDFC BANK DAILY (HDBK) Sub key 1,600 we continue to look lower till key 1,450 levels in the (c)/(iii) wave down. Performance cycles are also heading to a performance bottom. ICICI BANK DAILY (ICBK) Our preferred scenario sees this as a complex corrective structure down. The (y) wave down could extend lower till key supports at psychological 700. The bottoming of the performance cycles is also in sync with this view. STATE BANK OF INDIA DAILY (SBI) Prices continue to hold key FIB and trend channel supports at 1,950 levels. We need a clear break here to continue to look lower. Performance cycles are heading to a performance bottom. UNITECH DAILY (UNTE) We need a clear break sub key 64 levels to continue to look lower in the (c)/(iii) wave down. Performance cycles are bottoming and suggest further outperformance of Unitech 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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