CHANNELS.INDIA – MID ECONOMIC UPDATE
SUMMARY: IDEA DAILY (IDEA). KEY REVERSAL bars continue to suggest further retracement from here. Key levels lie at 67. BHARTI WEEKLY (BRTI). Prices continue to hold key resistance levels at psychological 1,000 as anticipated. KEY REVERSAL bars suggests further downmove. RELIANCE WEEKLY (RLCM). KEY REVERSAL bar confirms our TOPPING view. Key levels lie at 250. MAHANAGAR TELEPHONE NIGAM DAILY (MTNL). The C/3 wave up could be further extending till key 110 levels. TATA MOTORS WEEKLY (TAMO). KEY REVERSAL bar and over reactive RSI suggest a TOPPING near current levels. ASHOK DAILY (ASOK). Prices turned back from key resistance levels at 32. A clear break below key 25 levels (key FIB and true trendline supports) would be our first reversal sign. CROMPTON WEEKLY (CROM). Over reactive momentum and weekly gap suggest that the current upmove is exhausting. BHARAT HEAVY DAILY (BHEL). Moving average crossover is still positive. Key levels lie at psychological 2,000. LARSEN WEEKLY (LART). Prices continue to hold key resistance levels near psychological 1,500. RELIANCE DAILY (RELI). Prices continue to hold above key FIB levels at 2,100. Moving average crossover is still positive.
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