CHANNELS.INDIA – ELLIOTT SPECIAL
ELLIOTT SPECIAL
SUMMARY: OIL AND NATURAL GAS DAILY (ONGC) Prices continue to hold previous high levels. Our FLAT scenario is still in place. RELIANCE DAILY (RELI) The current structure still looks like a corrective which should resolve lower. NTPC DAILY (NTPC) We continue to look at this as a corrective structure which should resolve lower till prices hold previous highs. Above key 225 we review. ACC DAILY (ACC) A continued upmove would suggest that the corrective FLAT is already completed and we are in for new highs. However, we would still wait for a price confirmation. HINDALCO DAILY (HALC) Prices are heading to key resistance levels at 150. TISCO DAILY (TISC) Price broke previous high levels. Above key 550 we could see a further upmove till key 680-700. RANBAXY DAILY (RANB) Prices are pushing higher in the fifth leg up. Immediate price targets lie at psychological 400 levels. CIPLA DAILY (CIPL) Prices break the upward intermediate trend channel. We continue to look at this as an a-b-c corrective structure. AMBUJA WEEKLY (ABUJ) This could still be a completing C leg up. Key resistance levels lie at 120. ITC WEEKLY (ITC) The impulsive structure up seems complete. Weekly KR stands firm.
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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