13 January 2011

Nifty day 3 holds ground: Emkay

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Techcheck Daily
Nifty day 3 holds ground

n     Charts of the Day: Nifty, short term exhaustion, 3 day reversals hint at a decent pullback, targets around 5950-6000, downside reversals pegged at 5690
n     Bank Nifty, risk rewards now favour bulls, prices reverse from 10620; lower daily and weekly Bollinger (close to our target range of 10300-10400), downsides if any left are marginal, daily mean reversion target at 11400
n     Crude price extensions within a bearish setup, stance remains negative as long as prices don’t breakout of the pattern
n     DXY bullish H&S breaks on the upside, maintain targets at 85-88
n     Stocks with positive short term view
n     OMC’s, Praj, Bank Nifty, Axis, ICICI Bank, Indiabulls Real, India Infoline, Apollo Hospital
n     Stocks with negative short term view
n     Sesa Goa, BOI, ACC, BHEL
  

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