03 January 2011

BSE 500 negative after 7:: Emkay

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Techcheck Daily
BSE 500 negative after 7

n     Chart of the Day: BSE 500, closes negative for the quarter after a dream 7 quarter run with a weak ‘Doji’ formation, trades close to the upper end of monthly and quarterly Bollinger Bands, upsides if at all look limited
n     Nifty prices within short term channels, 6050 remains crucial support
n     Nifty monthly momentum rolls over, upsides if any could be a slow grind
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, Bank Nifty, Bharat Forge, ACC, BHEL

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