CHANNELS.INDIA – THE DOWNMOVE CONTINUES
SUMMARY: IDEA DAILY (IDEA) The minor trend down continues. We could see an extension of the C wave down till key supports at 42-40 levels. BHARTI DAILY (BRTI) Prices are heading to key support levels at 250. MAHAGANAR DAILY (MTNL) The current downmove could take prices back to previous lows near psychological 60 levels. TATA COMMUNICATIONS DAILY (TATA) Prices are pushing back to previous lows near key 345 levels. This is a key support area. ASHOK DAILY (ASOK) Prices pushed higher till trend channel resistances near key 48 levels. We expect at least a subminor retracement from here. CROMPTON WEEKLY (CROM) Prices make a KR bar near key resistance levels at 390. RSI also turns back from key 70 levels. BLUE STAR DAILY (BLUS) Prices pushed lower till previous lows near key 330 levels. A clear break here would suggest further minor negativity. TATA MOTORS WEEKLY (TAMO) Prices continue to hold key resistance levels. ROC also points lower from current levels. LARSEN DAILY (LART) Prices continue to push lower from key resistance levels at 1,700. BHARAT HEAVY WEEKLY (BHEL) Prices pushed lower till trend channel supports at 2,150 levels. A clear break here would suggest further minor negativity. Gap targets lie at key 1,720 levels.
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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