CHANNELS.INDIA – EARLY ECONOMIC – ROC SUGGESTS CAUTION
SUMMARY: DLF DAILY (DLF) Prices turn back from previous high levels. Non-confirming ROC also suggests exhaustion. HDFC WEEKLY (HDFC) 17 weeks of sideways action. Weekly ROC is non-confirming and over reactive, but prices continue to hold trend channel supports. HDFC BANK DAILY (HDBK) Prices continue to move in a sideways action. Weekly momentum non-confirms and suggests weakness. ICICI BANK DAILY (ICBK) Prices break above key resistances at 800. Momentum weakness keeps us cautious. We would like to see more price confirmation before anything. STATE BANK OF INDIA DAILY (SBI) Prices are retesting key resistances near psychological 2,000 levels. A clear break here would be our first positive sign. INFOSYS DAILY (INFY) Prices pushed higher till key resistances at 2,250 levels. A clear break here would mean that the fifth wave up could extend even higher till key 2,600-2,700. TATA CONSULTING SERVICES DAILY (TCS) The fifth wave up could push prices higher till key 650 levels. MAHINDRA DAILY (MAHM) As long as previous highs hold, we continue to look at this as a corrective structure which should resolve lower. UNITECH DAILY (UNTE) Prices broke above previous high levels. ROC non-confirmation keeps us on skeptic territory till further price confirmation. TITAN INDUSTRIES DAILY (TITN) Time cycles suggest short-term negativity.
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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