CHANNELS.IND – LATE ECONOMIC UPDATE

CHANNELS.IND.260609

SUMMARY: OIL AND NATURAL GAS DAILY (ONGC): Moving average crossover has turned negative. A breach of the true trendline near psychological 1,000 levels would strengthen our negative view. RELIANCE ENERGY DAILY (RLIN): Moving average crossover is still struggling to turn negative. AMBUJA DAILY (ABUJ): Moving average crossover is negative. Below key 84 levels we get more negative confirmation. ACC DAILY (ACC): Prices bounced back from key supports at psychological 700. Moving average crossover is negative. HINDALCO DAILY (HALC): Prices retraced 0.382 FIB from the previous impulsive structure up. We need a clear break below psychological 80 levels to continue to look lower. NTPC DAILY (NTPC): Prices continued to push lower after DOUBLE TOP formation. Below key 190 levels we continue to look lower till key 160. TISCO DAILY (TISC): Moving average crossover turned negative. Below key 365 levels we get more negative confirmation. CIPLA DAILY (CIPL): The c/iii wave up is completing near key 270 levels. RANBAXY DAILY (RANB): Moving average is ready to turn negative. A clear break at mid channel supports would validate our view. ITC DAILY (ITC): Prices continue to coil around psychological 200 levels. 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

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Author: Orpheus | Date: 25 June 2009 | Comments (0)

Tags: channels