CHANNELS.INDIA – EARLY ECONOMIC UPDATE
SUMMARY: DLF DAILY (DLF) After completing the corrective structure down, prices pushed higher and broke the minor trend channel resistances. Price targets lie at previous high levels near 430. HDFC DAILY (HDFC) Prices continue to hold key resistance levels at 2,600. No clear sign of a trend yet. HDFC BANK DAILY (HDBK) Prices bounced back after completing the corrective structure down. Above key 1,440 levels we continue to be positive on subminor. ICICI BANK DAILY (ICBK) Prices are retesting key resistances at psychological 800 levels. A clear break above respective levels would challenge our up but topping view. Moving average crossover is also positive. STATE BANK OF INDIA DAILY (SBI) Prices are at trend channel resistances near 1,750 levels. We need a clear break above respective levels to look for a reversal. INFOSYS DAILY (INFY) Prices continued to hold the minor trend channel up. Moving average crossover is still positive. Above key 2,070 levels we get more positive confirmation. TATA CONSULTING SERVICES WEEKLY (TCS) Prices are heading to previous high levels near 530. Over reactive momentum suggests a topping soon. MAHINDRA DAILY (MAHM) Prices broke previous high levels near 830. Moving average crossover is still positive. TITAN INDUSTRIES DAILY (TITN) Prices seem to be in the final fifth wave of an impulsive structure up. Immediate price targets lie at 1,400. UNITECH DAILY (UNTE) Prices pushed higher till key resistances at 88 after completing the corrective down. Above 88 levels we continue to look higher.
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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