CHANNELS.INDIA – RSI SPECIAL

SUMMARY: IDEA DAILY (IDEA) RSI pushed higher till key 40 levels. A clear break above respective levels would suggest that the corrective structure down is already complete. BHARTI DAILY (BRTI) Prices continue to hold key supports at 280 levels. RSI is still below key 40. MAHAGANAR DAILY (MTNL) The structure seems to have a pending fifth leg down. RSI also turned back from 70 resistances. Key supports lie at psychological 70. TATA COMMUNICATIONS WEEKLY (TATA) Prices continue to hold the neckline. A clear break here would push prices down to psychological 300 levels. RSI sub 30 suggests an extremely oversold situation, so be on alert for a potential turn from here. ASHOK WEEKLY (ASOK) Prices pushed higher in the C wave up till key resistance levels at 55. RSI over 70 suggests an overbought situation. CROMPTON WEEKLY (CROM) The C wave up should complete near current levels. RSI over 70 suggests an overbought situation. BLUE STAR WEEKLY (BLUS) Prices continue to hold previous low levels. RSI turned back from 40 supports suggesting potential further upside. TATA MOTORS WEEKLY (TAMO) Prices continue to hold below key resistance levels at 700. RSI over 70 suggests an overbought situation. LARSEN DAILY (LART) Prices retest key resistances at 1,700 levels. RSI heads to 70 resistances. BHARAT HEAVY WEEKLY (BHEL) Prices continue to hold trend channel supports at 2,150 levels. RSI also turns back from 40 supports.
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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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