CHANNELS.INDIA – LATE ECONOMIC
SUMMARY: OIL AND NATURAL GAS DAILY (ONGC) The B/2 wave up seems complete. Below key 1,150 levels we get more negative confirmation. RELIANCE ENERGY DAILY (RELI) We continue to look at this as a completing B wave up. AMBUJA DAILY (ABUJ) ANTICIPATED AND HAPPENED Prices break true trendline supports as anticipated. We should see a more determined downmove now. ACC DAILY (ACC) Prices continue to hold above neckline levels at 725. NTPC WEEKLY (NTPC) Weekly ROC non-confirms, suggesting an exhaustion soon. RANBAXY WEEKLY (RANB) Weekly momentum non-confirms. TISCO DAILY (TISC) This looks like a potential DOUBLE TOP pattern. Neckline levels lie at 330. CIPLA DAILY (CIPL) Prices continued to push lower from key resistance levels at 300 as anticipated. ITC DAILY (ITC) The corrective structure up seems complete.
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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