CHANNELS.INDIA – ENERGY SHOWS SIGNS OF NEGATIVITY

SUMMARY: RELIANCE DAILY The corrective structure up seems complete. Prices make an ENGULFING BEARISH candle formation. Immediate targets lie at 1,040. ONGC DAILY The B/2 wave up seems complete. Sub key levels at 1,170 we should get more negative confirmation. TISCO DAILY Prices make a KEY REVERSAL bar near previous high levels. A clear break below key FIB levels at 522 would be a negative confirmation. HINDALCO WEEKLY Prices continue to hold 0.618 key FIB levels. RSI non-confirmation suggests an exhaustion near current levels. GRASIM DAILY Prices are pushing higher and might retest the neckline at key 2,460 levels. AMBUJA DAILY Prices bounced back from previous low levels. Key resistances lie at 96 (previous supports) and psychological 100 (key FIB). ACC DAILY Retesting the neckline (RED). RANBAXY DAILY Prices are completing the impulsive structure up. Key resistance levels lie at 450. NTPC DAILY Prices continue to hold key resistance levels at 217. We expect further subminor negativity from here. CIPLA DAILY The corrective structure up seems complete. Immediate targets lie at psychological 300.
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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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