Techcheck Daily Nifty failure to break past 5910 :: Emkay

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Techcheck Daily

Nifty failure to break past 5910

n     Chart in Focus: Nifty prices fail to go past hurdle, short term momentum rolls over, expect a cool off towards the lower end of the 5700-5900 range

n     Nifty medium term setups remain positive but suggest critical supports around the 5650 mark

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

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

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

n     Stocks with positive short term view

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

n     Stocks with negative short term view

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