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Techcheck Daily |
8 days below neckline, weakness to continue |
n Charts of the Day: Nifty, 8 sessions below the neckline of a bearish H&S, the pullback has been weaker than expected, a break below 5624 should trigger the next leg down
n Nifty broader patterns still suggest medium term weakness, 5550 remains the next target and critical support
n Weakness creeps in global indices as well, S&P 500; daily momentum rolls over, DAX struggles at resistance line, expect sharp declines once respective 55 DEMA are broken
n DXY minor whipsaw yet medium term view remains intact, target 85-88.
n Gold monthly momentum wanes, a decade long bull market could be over soon
n Stocks with positive short term view
n Opto Circuit, Bajaj Auto, DLF, Indbul Realty, OMC’s
n Stocks with negative short term view
n Hindalco, Axis, Sesa Goa, ACC, BHEL
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