Techcheck Daily-Cipla breaks out pf shackels:: Emkay

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Techcheck Daily

Cipla breaks out pf shackels

n     Chart of the Day: Cipla, the stock has broken out of strong resistance at 363 with good volumes, expect it to target 410-425 from hereon

n     DJIA whipsaws bears, a bearish pattern failure too looms large

n     DXY strong monthly reversal, expect the 200 DMA at 82 to be taken out in sometime

n     Bank Nifty initial targets met but the move looks good, 12500 near the 61.8% mark remains a crucial hurdle, once past it expect the index to target all time high at 13300

n     Nifty pullback looks good, initial targets around 61.8% retracement at 6100

n     Stocks with positive short term view:

n     Cipla, Reliance, ICICI Bank, SBI, L&T, Infosys, Alok Text, Arvind Ltd

n     Stocks with negative short term view:

n     Hindalco, HUL