19 January 2011

Stock of the Day- Opto Circuit:: Emkay

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Techcheck Daily
Stock of the Day- Opto Circuit

n     Charts of the Day: Opto Circuit, reversals look strong, stock witnesses 52 week high volumes, expect targets of 275-285 initially
n     Nifty 200 day averages (5650-5600) hold for the time being and act as base for the current bounce, expect it to last till 5800-5830 levels if not more
n     Nifty broader patterns still suggest medium term weakness, 5550 remains the next target and critical support
n     DXY minor whipsaw yet medium term view remains intact, target 85-88.
n     Gold monthly momentum wanes, a decade long bull market could be over soon
n     Stocks with positive short term view
n     Opto Circuit, L&T, Bajaj Auto, Indbul Realty, OMC’s, SBI (stop 2489), HDFC Bank (stop 2024), Apollo Hospital
n     Stocks with negative short term view
n     Hindalco, Axis, Sesa Goa, ACC, BHEL

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