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Techcheck Daily |
The sweetest trade of 2011 is here |
n Chart of the Day: Sugar, the sweetest trade for 2011 emerges, sugar LIFFE reacts sharply from long term resistances, yesterdays 10% drop to get followed through in 2011
n Praj Industries, featured second time this week, the stock looks to have clearly formed a medium term/long term bottom around 68-70 levels, the move now looks good enough to go past 100 and challenge the 52 week highs around 113.
n Bank Nifty, still trades below the 52 week trend channel expected break is on the downside with targets close to 11000
n Nifty expect a directional move in January, preferred view remains down with odds as high as 3:1, we hence recommend buying 5600-6400 strangle for Jan
n Sensex quarterly cycles stretched, highly likely that turn windows emerge, keep a close watch on this quarters closing, it’s a touch and go setup
n DXY bullish reversal patterns, targets at 85-88 once breakout happens
n Stocks with positive short term view
n Praj, ONGC, Exide, Maruti, Reliance Capital, L&T(stoploss1900), Infosys, TCS
n Stocks with negative short term view
n GAIL, Crompton Greaves, TISCO, Bank Nifty, Bharat Forge, Titan, ACC, BHEL
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