Techcheck Daily SBI falters, volumes expand into decline:: Emkay

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Techcheck Daily

SBI falters, volumes expand into decline

n     Chart of the Day: SBI, stock falters as prices register a bearish gap and volumes expand on decline, expect prices to test 55 DEMA at 3100 and lower channel supports at 3050 initially

n     DXY a triangular consolidation looks more or less complete, expect initial targets till 79-80 once broken 83-84 would be next

n     Nifty the medium term uptrend remains intact, target 6500-6600, supports around the 6100-6150 levels

n     Stocks with positive short term view:

n     LIC Housing, Mercator, Canara Bank, RCF,  IIFL, Infosys

n     Stocks with negative short term view:

n     SBI, Tata Chemical, Yes Bank, BOB