Channels.Ind - Mid economic performance cycles

SUMMARY: IDEA DAILY (IDEA) Sub psychological 60 levels we continue to wait for a pending fifth wave down. BHARTI DAILY (BRTI) The corrective structure down seem incomplete. Key supports lie at 257-200 levels. MAHAGANAR DAILY (MTNL) Above psychological 60 we consider the corrective A-B-C structure down complete. RSI also finds supports at 30 levels. TATA COMMUNICATIONS DAILY (TATA) Completing the W-X-Y corrective structure down. Key supports lie at 350-250 levels. TATA MOTORS DAILY (TAMO) Prices are completing the minor impulse up. RSI turns back from 70 resistances, suggesting further supply pressure. Performance cycles (right) also point to a further underperformance of TAMO for the next few weeks. BHARAT HEAVY DAILY (BHEL) Performance cycles seem to be bottoming and suggest further outperformance of BHEL for the weeks ahead. This means that the corrective structure down should complete soon. Key supports lie at 2,150 levels. LARSEN DAILY (LART) Prices are heading to trend channel supports. RSI seems to be turning back from 30 supports, suggesting positivity ahead. Performance cycles (right) seem to be bottoming and suggest an outperformance of LART for the weeks ahead.

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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



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