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Techcheck Daily |
Crude breakout past $90.5 looks suspect |
n Chart of the Day: Crude Oil, bearish price patterns, negative divergences on momentum, break past $90.5 looks suspect
n Bank Nifty remains a concern, bearish continuation patterns take shape, expect a break below 11000 in coming weeks
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 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 L&T(stoploss1900), 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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