Channels.India – IT completing minor impulses

SUMMARY: DLF DAILY (DLF) Prices continue to move in a sideways action sub key resistances at psychological 400. HDFC BANK DAILY (HDBK) Prices seem to be in a corrective structure down which could push lower till psychological 1,600 before anything. HDFC DAILY (HDFC) Prices are still in a complex sideways corrective structure. Key support levels lie at 2,450. STATE BANK OF INDIA DAILY (SBI) Prices are in a sideways correction which should hit some support soon. Key levels lie at 2,100-2,060. ICICI BANK DAILY (ICBK) The sideways corrective structure seems to have a pending (z) leg down which could push lower till psychological 700 levels. Performance cycles are also heading to a performance bottom. TCS DAILY (TCS) Above psychological 800 we continue to look higher till next resistances at 850 in the fifth leg up. INFOSYS DAILY (INFY) Prices are completing the minor impulse up. Key resistance levels lie at 2,700-2,800. M&M DAILY (MAHM) Prices pushed higher till key resistances at 1,200 levels in the final fifth wave up. Performance cycles are topping, suggesting further underperformance of M&M for the weeks ahead.
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‘Performance cycles’ is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.
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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