Techcheck Daily Nifty holds on to trend supports:: Emkay

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Techcheck Daily

Nifty holds on to trend supports

n     Chart of the Day: Nifty, larger trendline supports intact, short term trendline gets whipsawed with a large lower shadow ‘hammer’, signs of bear exhaustion

n     Nifty short term trendline supports hold, expect a pullback till 6150 initially

n     Nifty medium targets revised from 6450-6600 to 6340-6500

n     DXY prices past resistance lines, target 82-83.5

n     Stocks with positive short term view:

n     Maruti, ICICI Bank, Cipla, L&T, OMCs, Infosys

n     Stocks with negative short term view:

n     DLF, Unitech, Tisco, Hindalco, Sesa Goa