Nifty Stuck though Hang Seng seems ready to roll: Emkay

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Nifty Stuck though Hang Seng seems ready to roll

n     Chart in Focus: Hang Seng trend continuation signals get louder, expect momentum to kick in once 24470 is broken out, 26000 should than be initial targets

n     Nifty equilibrium continues, prices approach back towards crucial resistances, a breakout past recent high at 5945 on a closing basis would open up upsides in the medium term, failure would lead prices back to 5700

n     Bank Nifty, the 12000-12100 target range remains a crucial trend decider, just like Nifty a breakout would be a crucial medium term trend decider

n     DJIA, uptrend remains healthy and intact, prices trade within a well defined trend channel with targets of 13000+

n     INR likely triple bottom in place, 44 remains crucial support going forward

n     Stocks with positive short term view

n     ICICI Bank (stop 1048), SBI, PNB, Tata Motors (stop 1153), Reliance, Apollo Tyre, Maruti

n     Stocks with negative short term view

n     Yes Bank (stop 336), Tata Steel