Techcheck Daily -- MSCI World Index due for a correction:: Emkay,

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Techcheck Daily

MSCI World Index due for a correction

n     Chart of the Day: MSCI world index signs of weakness as negative divergences emerge, likely correction to the extent of 5-7%, could deepen further if 290 gets broken

n     Nifty 6000-6150 to remain the trading range, momentum signatures though suggest weakness, a short term dip to 5800-5830 cannot be ruled out yet

n     Nifty the medium term uptrend remains intact, target 6500, hence any short term dip can be used for buying

n     Volumes too confirm medium term strength

n     Stocks with positive short term view:

n     Mercator, HBL, IIFL, ICICI Bank, Reliance, Infosys, Andhra Bank

n     Stocks with negative short term view:

n     Exide, Sesa Goa, BHEL, Yes Bank, BOI, BOB, Axis