CHANNELS INDIA – mid economic update

SUMMARY: BHARTI DAILY (BRTI) Prices bounce back from key supports at 330 levels. Above respective levels we consider the z wave down complete. IDEA DAILY (IDEA) Prices continue to hold above key support levels at 55-60. TATA COMMUNICATIONS DAILY (TATA) Prices continue to hold previous low levels at key 450. We need a clear break below respective levels to continue to look lower. MAHAGANAR DAILY (MTNL) Prices pushed lower till key supports at 84 levels. We are not ruling out an extension of the Y wave down till next key FIB levels at 74. ASHOK DAILY (ASOK) ROC non-confirmation keeps us skeptic about the current upmove. CROMPTON DAILY (CROM) Prices are still struggling near previous high levels. ROC non-confirmation suggests weakness. BLUE STAR DAILY (BLUS) ROC non-confirmation keeps our ALTERNATE scenario alive. TATA MOTORS DAILY (TAMO) ROC cycle turns down. A price confirmation here will confirm negativity. BHARAT HEAVY DAILY (BHEL) Prices continue to hold the minor trend channel up. Momentum non-confirmation suggests weakness. LARSEN DAILY (LART) Prices continue to hold key resistance levels at 1,700. We need a clear break above respective levels to look for further positivity.
To access member’s area or Orpheus estore click 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
ORPHEUS RESEARCH AT REUTERS – UNITED KINGDOM
ORPHEUS RESEARCH AT REUTERS – USA