Techcheck Daily TISCO pullbacks to target 645-650 :: Emkay

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Techcheck Daily

TISCO pullbacks to target 645-650

n     Chart of the Day: Tata Steel, after close to 15% decline the stock now seems to be finding hard ground, bullish patterns emerge hinting at a pullback towards the 645-650 levels

n     Bank Nifty breaks supports and breaks the neckline of a bearish H&S, neckline at 12200 targets at 11500

n     Nifty multiple bottoms around the 5960 mark, prices to now trade within the 5960-6100 band till 5960 is decisively breached

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

n     DXY daily momentum about to turn positive, expect initial targets at 79-80

n     Stocks with positive short term view:

n     TISCO, Tata Tea, Rallies, TNPL, Mercator, HBL, IIFL, ICICI Bank, Infosys

n     Stocks with negative short term view:

n     Tata Chemical, Yes Bank, L&T, BHEL, BOI, BOB, Axis