01 November 2010

Techcheck Daily 5960 support target 6500 : Emkay

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Techcheck Daily
5960 support target 6500

n     Chart of the Day: Nifty, monthly negative ‘Doji’ close after four months hints at indecision, yet a sideways four week consolidation seems over.
n     The chances of a correction till 5800-5830 are now drastically reduced if not negated completely
n     Nifty multiple bottoms around the 5960 mark, prices to trade with a positive bias, till 5960 is decisively breached (with a daily close).
n     Nifty the medium term uptrend remains intact, target 6500, hence short term dips can be used for buying
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, BOB

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