CHANNELS.INDIA MID ECONOMIC UPDATE
CHANNELS.IND.200509
SUMMARY: IDEA WEEKLY (IDEA). Prices gapped up till 0.618 key FIB levels at 83. Moving average crossover is still positive. BHARTI WEEKLY (BRTI). Prices pushed higher till psychological 1,000 levels. This seems like an extreme impulse which cannot be sustained for long. RELIANCE WEEKLY (RLCM). Prices broke key resistance levels at 250 and pushed higher. However, the gapping action suggests that we should see at least some retracement now. MAHANAGAR TELEPHONE NIGAM DAILY (MTNL). Prices pushed higher till key resistances at 93 levels. The C/3 wave up should be completing near current levels. TATA MOTORS DAILY (TAMO). Prices continued to push higher till key resistance levels near 320. ASHOK WEEKLY (ASOK). Prices are at 0.382 key FIB levels at psychological 30. Over reactive RSI suggests an exhausting upmove. CROMPTON WEEKLY (CROM). A RISING WINDOW is a bullish signal, suggesting that we could see further upmove from current levels. BHARAT HEAVY WEEKLY (BHEL). Over reactive RSI and gapping action suggest an exhausting upmove. Key levels lie at 2,180. LARSEN WEEKLY (LART). Moving average crossover is positive. Key levels lie at 0.5 FIB near 1,500. RELIANCE DAILY (RELI). Daily KEY REVERSAL bar and gapping action suggest a topping near current levels.
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