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Techcheck Daily |
Bank Nifty pullback complete, downsides to resume |
n Chart of the Day: Bank Nifty, pullbacks seem complete and hit resistance, expect downsides to resume and initially target 11000
n Nifty volumes dip sharply in the current pullback, remain a cause of concern
n DJIA, prices struggling near a century old bull market channel, crucial few weeks ahead, a make or break scenario in the making
n Gold, prices near the top end of a decade long bullish channel, quarterly RSI readings at 92 are historically over stretched
n Index 2 year and quarterly cycles come back to haunt
n Stocks with positive short term view:
n Rolta, Infosys, Larsen, HPCL, BPCL, Reliance, Cipla
n Stocks with negative short term view:
n Bank Nifty, Bharat Forge, ACC, DLF, BHEL
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