Nifty near our (5550) medium targets : Emkay

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Nifty near our (5550) medium targets

n     Charts of the Day: Nifty, prices break below 5624, breaks below 200 DMA, recent high at 5801 now remains a reference/reversal point for shorts

n     Nifty our medium term targets at 5550 almost met, 5550-5800 should now remain the trading range till prices breakout either side

n     Bank Nifty prices reverse decisively confirm downsides, recent lows at 10373 now remains threatened

n     Gold a decade long bull market nearing end, prices close to breaking the $1300 psychological mark

n     Crude, below crucial 87 mark, daily momentum starting to turn negative, underlying trend remains down, prices to target 80-82 levels

n     DXY breaks below 79, setups vary from what we earlier expected, 77.7 now remains crucial for bullish alternates to hold

n     Stocks with positive short term view

n     Infosys, ITC, OMC’s

n     Stocks with negative short term view

n     Hindalco, Hero Honda, Dr Reddy, DLF, Bank Nifty, Axis, Sesa Goa, ACC