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9am with Emkay |
19 January, 2011 |
n Technical Comments
“Morning star” at 200-DSMA
Nifty saw a late rally, after consolidating for major part of the day on the back of good buying across the board. Since, Nifty settled the session above 5703 level, the “Morning star” pattern (about which we had discussed in previous note), finally got confirmed. Moreover, this bullish pattern seems to hold a fair piece of importance as it is witnessed, virtually at the support of 200-daily simple moving average. Hence, a short-term bounce can be witnessed in the coming session.
Bank Nifty:
For Bank Nifty, the daily RSI has given a buy crossover, after a positive divergence on daily time frame, meaning that the lower Bollinger tag has provided a short term support. Hence, a bounce upto 11,200 level is likely from current level of 10,650.
n Results Today
Aptech | Bajaj Auto | Bajaj Holdings | HCL Technologies | Hind.Zinc | Infotech Enterp. |
LIC Housing Fin. | Noida Tollbridg. | Orchid Chemicals | Peninsula Land | Rel. Indl. Infra | Torrent Pharma. |
Uflex |
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