Techcheck Daily -Cracks open up :: Emkay

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Techcheck Daily

Cracks open up

n     Charts of the Day: Gold, cracks open up, price/momentum combination decisively negative, expect 200 DEMA to get tested initially

n     Crude prices/momentum sell off, expect further weakness once 87 is broken

n     Cracks open up in Europe, DAX and FTSE look particularly weak, S&P 500 also looks weak, expect further 5-7% declines

n     Nifty, 9 sessions below the neckline of a bearish H&S, the pullback has been weaker than expected, a break below 5624 should trigger the next leg down

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     Stocks with positive short term view

n     L&T,  Praj, Opto Circuit, DLF, Indbul Realty, OMC’s

n     Stocks with negative short term view