14 January 2011

Nifty Inside Day : Emkay

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Techcheck Daily
Nifty Inside Day

n     Charts of the Day: Nifty, an inside day at lower end of the daily Bollinger, high probability mean reversion setup (mean currently around 5980)
n     DXY minor whipsaw yet medium term view remains intact, target 85-88.
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     Stocks with positive short term view
n     OMC’s, 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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