Techcheck Daily JPY prices headed till 90 : Emkay

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Techcheck Daily

JPY prices headed till 90

n     Chart in Focus: JPY prices from a bullish outside day at crucial supports, expect upsides to resume and take prices back towards the 90 mark

n     JPY prices decisively reversing from the lower end of a decade long bearish trend channel

n     Commodities critically poised, 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     Copper whipsaws 104 week long trendline supports, 4.07 on COMEX remains critical, monthly mean reversions suggest targets at 3.6

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

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

n     Stocks with positive short term view

n     Bharti, Tata Motors (stop 1153), Maruti

n     Stocks with negative short term view

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