CHANNELS.INDIA – MID ECONOMIC UPDATE
CHANNELS.IND.030609
SUMMARY: IDEA DAILY (IDEA). KEY REVERSAL bars continue to suggest further retracement. BHARTI DAILY (BRTI). Moving average crossover is ready to turn negative. Key levels lie at 750. KEY REVERSAL bars also sustain our view. MAHANAGAR TELEPHONE NIGAM DAILY (MTNL). ANTICIPATED AND HAPPENED Prices pushed higher till key 110 levels in the C/3 wave up. This is a key resistance area. TATA MOTORS DAILY (TAMO). The five wave structure up seems complete. Key levels to watch lie at psychological 300. ASHOK WEEKLY (ASOK). Moving average crossover is still positive. Key resistance levels lie at psychological 40. CROMPTON WEEKLY (CROM). Moving average crossover is still positive. Key resistance levels lie at 320. BHARAT HEAVY DAILY (BHEL). This looks like a corrective structure which should resolve lower. Key levels lie at psychological 2,000. LARSEN WEEKLY (LART). Prices continue to hold key resistance levels near psychological 1,500. Moving average crossover is still positive. RELIANCE DAILY (RELI). The impulsive structure up seems complete. Prices seem to be in a corrective structure up which should resolve lower.
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