CHANNELS.INDIA – MID ECONOMIC UPDATE
SUMMARY: IDEA DAILY (IDEA) The B/2 wave up shouldn’t push higher than key 87 levels. BHARTI DAILY (BRTI) We need a clear break below key 380 levels to call the sideways B/2 complete. MAHAGANAR DAILY (MTNL) As long as prices hold below key resistance levels at 110, we continue to look at this as a sideways corrective structure with an impending Y wave down. TATA COMMUNICATIONS DAILY (TATA) The sideways action continues. We need more price confirmation before calling the X wave complete. TATA MOTORS DAILY (TAMO) Time cycles point to a topping soon. ASHOK DAILY (ASOK) Prices pushed higher till previous highs. This is a key resistance area. RSI also points lower from current levels. CROMPTON DAILY (CROM) This looks like a potential TRIPLE TOP formation. A clear break below neckline levels at 260 would validate the pattern. BHARAT HEAVY DAILY (BHEL) Prices pushed higher till previous highs at 2,400 levels. A clear break here would suggest that the sideways consolidation is over and prices could push to new highs. BLUE STAR DAILY (BLUS) The impulsive structure up should complete near key 400-430 levels. LARSEN DAILY (LART) Prices are at trend channel resistances. We need a clear break above 1,550 levels for a positive signal.
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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