CHANNELS.INDIA – THE SIDEWAYS ACTION CONTINUES
SUMMARY: DLF DAILY (DLF) The B wave up seems complete. Sub key 417 levels we continue to look lower. Non-confirming RSI also suggests an exhaustion here. HDFC DAILY (HDFC) The choppy, sideways action continues. HDFC BANK DAILY (HDBK) The choppy, sideways action continues. ICICI BANK DAILY (ICBK) Prices continue to move in a sideways action below key resistances at 800. STATE BANK OF INDIA DAILY (SBI) Prices continue to move in a sideways structure. INFOSYS DAILY (INFY) Prices are heading to key resistance levels at 2,250. TATA CONSULTING SERVICES DAILY (TCS) Prices continue to hold below key resistances. Our alternate A-B-C scenario is still valid. MAHINDRA WEEKLY (MAHM) Weekly KR stands unbroken. ROC also points lower. UNITECH DAILY (UNTE) ANTICIPATED AND HAPPENED Prices pushed higher till previous highs to complete the B wave up. A clear break above respective levels would challenge our alternate A-B-C scenario.
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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