15 November 2010

Techcheck Daily BSE Realty underperformance to continue- Emkay

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Techcheck Daily
BSE Realty underperformance to continue

n     Chart of the Day: BSE Realty Index, bearish breakaway gaps emerge, index could fall 15% from current levels
n     Nifty weekly momentum indicator rolls over, negative divergences to visible, major part of the decline though seems over, 5950-6000 remains important support and can get tested
n     Nifty medium term uptrend intact and targets in the region of 6450-6600 pending 
n     DXY reversals look impressive, prices take support on a falling channel and reverse
n     Stocks with positive short term view:
n     Dr Reddy, RCF
n     Stocks with negative short term view:
n     DLF, Unitech, Sesa Goa, Hero Honda, SBI, Tata Chemical, Yes Bank, BOB

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