Channels.India - Late economic performance cycles

SUMMARY: ONGC DAILY Above key 1,240 we continue to look higher till key 1,280 in the third leg up. RELI DAILY We have the same corrective structure up on RELI. Key resistances lie at 1,200 levels. ACC DAILY Above key 1,125 levels we continue to look higher in the 3/C wave up. Performance cycles continue to suggest further outperformance of RELI for the weeks ahead. GRASIM DAILY Prices are heading to previous highs at key 2,940 levels. Sub respective resistances we could see an ongoing FLAT corrective. TISCO DAILY Prices are heading to key resistances at psychological 700 levels in the final fifth leg up. Performance cycles are also topping. ITC DAILY We could see another leg down before anything. Key support levels lie at 240-230. NTPC DAILY The impulse seems to have a pending fifth leg up. Key resistance levels lie at 245. CIPLA DAILY The minor impulse seems to have a pending fifth leg up. Key resistance levels lie at 390. RANBAXY DAILY The minor impulse seems to have a pending fifth leg up. Key resistance levels lie at 390.

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‘Performance cycles’ is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.

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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