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Techcheck Daily |
DJIA make or break sessions ahead |
n Chart of the Day: 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, upper end of the channel around 1500 and lower end at 900 currently, hence subject to prices holding within the channel the long term risk rewards are negative
n Nifty holds 5690 with Friday’s low at 5721, pullback towards 5950-6000 looks mature, 5850-5900 support for the day
n Index 2 year and quarterly cycles come back to haunt
n Stocks with positive short term view:
n 3i, Rolta, Infosys, Larsen, BHEL, HPCL, BPCL, Reliance, Cipla
n Stocks with negative short term view:
n ACC, Vijaya Bank, DLF, Tata Steel, Coromandel, Chambal Fertilizer, TVS Motors
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