9am with Emkay 28 January, 2011

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9am with Emkay

28 January, 2011

n        Technical Comments

Below 200-DSMA

On the back of sell-off across the board; Nifty finally broke the support of 200-daily simple moving average, immediately after violating the key support range of 5624-5634. Moreover, on daily chart we have also confirmed another lower top lower bottom sell signal. Thus a close below 200-DSMA and Dow theory’s sell signal makes us believe that we are heading for lower targets of 5500, which is the lower Bollinger band support.

Bank Nifty:

Bank Nifty (currently at 10678) too have broken the key support of 200-daily simple moving average and hence in the coming session it can further slide upto 10384 level, which is the previous swing low.

n        Results Today

3M India	Allahabad Bank	Alok Inds.	Bank of Baroda	Bharat Electron	Binani Cement
C C C L	Crompton Greaves	EID Parry	Federal Bank	Fres.Kabi Onco.	Gillette India
GTL Infra.	Havells India	HCL Infosystems	I O B	JK Paper	JP Associates
Jyoti Structures	Monsanto India	Motil.Oswal.Fin.	O N G C	Oberoi Realty	Oriental Bank
P & G Hygiene	Panacea Biotec	Puravankar.Proj.	Redington India	Siemens	Sterlite Tech.
Sun TV Network	Tata Global	Titan Inds.	TRF	TRIL	UCO Bank