CHANNELS.INDIA – LATE ECONOMIC
SUMMARY: OIL AND NATURAL GAS DAILY (ONGC) The B/2 wave up should complete near current levels. RELIANCE ENERGY DAILY (RELI) The current structure looks like a corrective which should resolve lower. The B/2 wave up seems complete and prices should push lower in the C/3 wave now. AMBUJA DAILY (ABUJ) Prices are ready to break true trendline supports and push lower in the cycle. HINDALCO DAILY (HALC) Prices continue to hold 0.618 key FIB resistances. We should see further retracement now. ACC DAILY (ACC) Prices continued to push lower after KR. A clear break below the neckline at key 725 levels would validate the potential DOUBLE TOP pattern. NTPC DAILY (NTPC) Prices continue to push lower in the C/3 wave down. RANBAXY DAILY (RANB) Prices continue to hold above true trendline supports. TISCO DAILY (TISC) Time cycles suggest further supply pressure. CIPLA DAILY (CIPL) ANTICIPATED AND HAPPENED Prices continued to push lower from key resistance levels at 300 as anticipated.
Login to the member’s area to read the report here.
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