23 December 2010

Emkay -23.12.10- TISCO

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Techcheck Daily
Chart of the day TISCO

n     Chart of the Day: Tata Steel prices hit a barrier; very strong resistance around the 680-700 mark, expect prices to reverse
n     Medium term bias turns negative after a gap of 4 months, 200 Day average cluster around 5535-5585 should get tested on the Nifty, increase in cash levels advised
n     DXY bullish reversal patterns, targets at 85-88 once breakout happens 
n     BSE Mid Cap, BSE Small Cap and BSE Consumer Durables break below bearish H&S formations
n     Gold, prices near the top end of a decade long bullish channel, quarterly RSI readings at 92 are historically over stretched
n     Stocks with positive short term view
n     Sesa Goa, Infosys, TCS, ITC
n     Stocks with negative short term view
n     TISCO, Bank Nifty,  Axis, Bharat Forge, Titan, ACC, BHEL, M&M

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