Techcheck Daily Commodities crack n Emkay

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Techcheck Daily

Commodities crack

n     Chart in Focus: Commodities snap, Crude and Copper breakouts fail, Gold too critically poised

n     Copper Monthly mean reversion targets pegged at 3.6

n     Crude lower channel targets pegged at $85

n     Nifty momentum readings historically oversold, the weekly close today remains important, 5550 remains the crucial hurdle for the day

n     The Plan B would kick in if we fail to recover in a couple of sessions, lower end of previous 52 week channel stands at 5250

n     Stocks with positive short term view

n     RIL,  L&T, SBI, ICICI Bank, LIC Hsg, Sun Pharma

n     Stocks with negative short term view

n     Dr Reddy, Tata Steel