CHANNELS.INDIA – EARLY ECONOMIC – RETESTING INTERMEDIATE RESISTANCES

SUMMARY: DLF WEEKLY (DLF) Prices head to key FIB and previous high levels at key 550. Non-confirming momentum continues to suggest an exhaustion soon. ICICI BANK DAILY (ICBK) The subminor impulse up (black) seems complete. Sub psychological 900 levels we get more negative confirmation. HDFC DAILY (HDFC) Prices continue to hold the minor trend channel up. We need a clear break sub key 2,400 levels to look for any reversal. HDFC BANK DAILY (HDBK) Prices are heading to key resistance levels at 1,800 in a subminor impulse up. STATE BANK OF INDIA WEEKLY (SBI) Prices make a weekly KEY REVERSAL bar at multiannual resistances near key 2,400 levels. INFOSYS WEEKLY (INFY) Prices turn back from multiannual high levels at 2,400. We should see further supply pressure now. TATA CONSULTING SERVICES DAILY (TCS) Retesting previous highs. ROC non-confirms, suggesting a weak upmove. MAHINDRA WEEKLY (MAHM) Prices are heading to previous high levels at psychological 1,000. This is a key resistance area for MAHM. UNITECH DAILY (UNTE) Prices seem to be in a corrective structure which should resolve lower. Sub psychological 100 levels we get more negative confirmation. TITAN INDUSTRIES DAILY (TITN) Prices turn back from key resistance levels at 1,450. We should see further supply pressure now.
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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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