CHANNELS.INDIA – MOMENTUM SPECIAL

MOMENTUM SPECIAL
SUMMARY: OIL AND NATURAL GAS DAILY (ONGC) Retesting previous highs. Above 1,200 next price target lies at 1,330. Momentum non-confirmation continues to suggest weakness. RELIANCE DAILY (RELI) Prices continue to hold the minor trend channel up. RSI is still above 40 supports. NTPC DAILY (NTPC) Prices continue to move in a sideways action. RSI is still above 40 supports. ACC DAILY (ACC) Prices continue to hold above neckline levels. ROC cycles suggest further supply pressure. HINDALCO DAILY (HALC) Momentum non-confirmation continues to suggest an exhausting upmove. TISCO DAILY (TISC) Retesting previous highs. ROC non-confirms and suggests weakness. RANBAXY DAILY (RANB) ROC cycles suggest at least minor negativity ahead. CIPLA DAILY (CIPL) RSI breaks 70 levels. The breaking of the mid channel line at psychological 300 would be a positive confirmation. AMBUJA DAILY (ABUJ) Prices continue to hold the minor trend channel down. RSI is still above 40 supports. ITC DAILY (ITC) Retesting previous highs. RSI breaks 70 levels, suggesting an overbought situation.
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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
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