CHANNELS.INDIA – EARLY ECONOMIC UPDATE
CHANNELS.INDIA.080609
SUMMARY: HOUSING DEVELOPMENT FINANCE CORPORATION DAILY (HDFC): Prices are heading to previous high levels at 2,500. Although moving average crossover is still positive, we expect a topping soon. HDFC BANK DAILY (HDBK): The five wave structure up seems complete. KEY REVERSAL bars suggest further downmove from here. ICICI BANK DAILY (ICBK): Moving average crossover turned positive again. Key resistance levels lie at 1,730. STATE BANK OF INDIA DAILY (SBI): ANTICIPATED AND HAPPENED The C/3 wave up seems to be completing near key resistance levels at 1,920. INFOSYS DAILY (INFY): Moving average crossover is still positive. Key resistance levels lie at 1,890. TATA CONSULTANCY SERVICES DAILY (TCS): Although moving average crossover is still positive, we expect any upmove to be limited. MAHINDRA DAILY (MAHM): The DARK CLOUD COVER candle formation suggests a topping near current levels. UNITECH DAILY (UNTE): Prices broke key resistance levels at psychological 80 and continued to push higher. Moving average crossover is still positive. TITAN INDUSTRIES DAILY (TITN): Non-confirming RSI suggests that the current upmove cannot be sustained for long.
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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