CHANNELS.INDIA – MID ECONOMIC UPDATE
SUMMARY: IDEA DAILY (IDEA). ANTICIPATED AND HAPPENED Prices broke psychological 70 levels and pushed lower to fill the daily open gap. Moving average crossover is still negative. Key levels lie at 63. MAHAGANAR DAILY (MTNL) This looks like a corrective structure which should resolve lower. Key levels lie at psychological 80. TATA COMMUNICATIONS DAILY (TATA) Prices continued to hold the intermediate trend channel up. A clear break below key supports at 450 would give us more negative confirmation. TATA MOTORS DAILY (TAMO) Moving average crossover is still negative. Sub 265 prices could push lower till key 220 levels. ASHOK DAILY (ASOK) Prices continue to hold above key supports at 28 levels. We need a clear break here to continue to look lower in the corrective structure. CROMPTON DAILY (CROM) This looks like a potential DOUBLE TOP formation. A clear break below the neckline at 265 levels could push prices lower till open gap levels at 180. BHARAT HEAVY DAILY (BHEL) Prices continue to hold above key supports at 1,950. Moving average crossover turned negative again. RELIANCE DAILY (RELI) Prices continued to hold the minor trend channel down. Moving average crossover is still negative. Sub key 1,800 levels we continue to look lower. LARSEN DAILY (LART) This looks like a corrective structure which should resolve lower. Below key 1,250 levels we get more negative confirmation.
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