CHANNELS.INDIA – MID ECONOMIC UPDATE
SUMMARY: IDEA DAILY (IDEA) Prices broke minor trend channel resistances and pushed higher till 0.5 key FIB levels. Above psychological 80 levels we get more positive confirmation. BHARTI DAILY (BRTI) Prices broke true trendline resistances. Above key 865 levels we get more positive confirmation. MAHAGANAR DAILY (MTNL) Prices are heading to trend channel resistances near psychological 100 levels. A clear break above respective levels would negate our negative view. TATA COMMUNICATIONS DAILY (TATA) Prices continued to hold the minor trend channel supports and broke the subminor trend channel resistances. Above psychological 500 levels we are positive. TATA MOTORS DAILY (TAMO) Prices broke the minor trend channel resistances. Key levels lie at 345. ASHOK DAILY (ASOK) Prices continued to hold above key supports at 28 levels. Moving average crossover has also turned positive. CROMPTON DAILY (CROM) Prices seem to be struggling to break out of the minor trend channel. RSI also points higher. BHARAT HEAVY DAILY (BHEL) Prices broke minor trend channel resistances. A clear break above previous highs near 2,400 levels would give us more positive confirmation. RELIANCE DAILY (RELI) Prices are at the minor trend channel resistances. A clear break above respective resistances would be our first positive sign. LARSEN DAILY (LART) Prices continued to hold the minor trend channel down. We need a clear break above key resistances at 1,550 levels for a positive signal.
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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