14 October 2010

Emaky:Techcheck Daily Oct 14th Nifty U-turn target 6500, marker levels raised to 6057

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Techcheck Daily
Nifty U-turn target 6500, marker levels raised to 6057

n     Chart of the Day: NIFTY, correction fizzles out at 6057, 6057 now becomes the reversal for bulls, move to now target a multiple channel convergence area
n     Three heavyweights which would help Nifty’s cause Reliance, ICICI Bank and Infosys
n     INR initial targets met, double bottom at 44.05, expect a bounce back till 45-45.5 before lower channel targets at 42 are met
n     Stocks with positive short term bias
n     Reliance, ICICI Bank, Infosys, Sterlite Ind, Apollo Tyres, Aptech Ltd, Andhra Bank
n     Stocks with negative short term bias
n     TISCO

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