Techcheck Daily DJIA and DAX hold on to their 200 DEMAs ::Emkay,

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Techcheck Daily

DJIA and DAX hold on to their 200 DEMAs

n     Chart in Focus: DJIA daily momentum triggers buy from oversold conditions expect a brief respite with a 4-6 session bounce, 12350-12500 remains a strong hurdle

n     DAX and DXY combination hint at impending long term reversals, DAX rallies from 200 DEMA, a final leg up should complete a terminal bearish wedge

n     Downsides open up across the board as indices mirror each other (confirmation), simultaneous trend breaks on BSE 500, BSE Mid-cap and Small Cap indices along with bench mark Nifty

n     BSE 500 downsides till 6300-6000 open up

n     BSE Mid-cap downsides till 5700-5500 open up

n     BSE Small-cap downsides till 6600-6500 open up

n     Stocks with positive short term view

n     L&T, ICICI Bank (stop 1095), Sesa Goa (stop 255)

n     Stocks with negative short term view

n     DLF, ITC, Reliance, TCS, Wipro, Reliance, ACC, Dish TV (stop 87.6), Asian Paints, Exide