CHANNELS.INDIA – EARLY ECONOMIC UPDATE
SUMMARY: HDFC DAILY (HDFC): Prices pushed higher till previous highs levels. The impulsive structure up should be completing soon near key 2,700 levels. DLF DAILY (DLF): Prices continued to hold key supports nea 320 levels. Moving average crossover is still negative and we are expecting a breach here soon. HDFC BANK DAILY (HDBK): Prices continued to hold key resistances at 1,570. Moving average crossover is ready to turn negative. ICICI BANK DAILY (ICBK): Moving average crossover is still negative. However, we need a clear break below key 650 levels as a negative confirmation. STATE BANK OF INDIA DAILY (SBI): Time oscillators suggest that any upmove now should be limited till mid Aug. INFOSYS DAILY (INFY): Prices continued to hold the intermediate trend channel up. Moving average crossover is still positive. Key resistance levels lie at 2,150. MAHINDRA DAILY (MAHM): Moving average crossover is still negative. Below key 680 levels we get more negative confirmation. UNITECH DAILY (UNTE): Moving average crossover is still negative. Key levels lie at psychological 80. TITAN INDUSTRIES 60MIN (TITN): Prices seem to be moving in a corrective structure which should resolve lower. Below key 1,200 levels we get more negative confirmation. TATA CONSULTING SERVICES DAILY (TCS): This looks like a potential DOUBLE TOP formation. A clear break below the neckline near key 360 levels would validate the pattern.
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