Techcheck Daily Crude prices at critical support:: Emkay

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Techcheck Daily

Crude prices at critical support

n     Charts of the Day: Crude, critical supports at 87, daily momentum starting to turn negative

n     Nifty daily momentum picks up, 5624-5750 remains the trading range, clear direction to emerge once range is violated, odds of upsides improve to 40:60

n     Nifty broader patterns still suggest medium term weakness, even though the worst part of the decline may be over, 5550 remains the next target and critical support

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     OMC’s, L&T, Infosys, SBI, Praj, Opto Circuit, Indbul Realty

n     Stocks with negative short term view

n     Axis, Sesa Goa, ACC