Techcheck Daily -Chart in Focus: CRB Commodities Index ::Emkay

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Techcheck Daily

Chart in Focus: CRB Commodities Index

n     Chart in Focus: CRB Commodity Index, next few sessions crucial as prices approach the crucial trend deciding 61.8% retracement levels, the wave setups looks copybook and hint at medium term downsides

n     Why 5650 on Nifty remains a crucial medium term support ? Similar medium trend channels on Bank Nifty, BSE 100 and 500

n     Nifty prices fail to go past hurdle, short term momentum rolls over, expect a cool off towards the lower end of the trading range around 5700

n     Nifty 5348 continues to remain a high probability starting point for a fresh bull market

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

n     Stocks with positive short term view

n     BHEL, DLF, Bharti, Tata Motors (stop 1153), Maruti

n     Stocks with negative short term view

n     HLL, RIL, HDFC, Yes Bank (stop 336), Tata Steel