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Techcheck Daily
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Nifty just there, Bank Nifty not yet
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n Chart in Focus: Nifty prices marginally break past trend resistances, potential upsides open up as long as we stay above 5700 levels on a closing basis
n Bank Nifty though still trades below similar resistances around 11450-11500, this means that it has still not confirmed with the benchmark
n BSE FMCG Index prices trade below multi year trend line, momentum readings hint at a correction before prices can move higher
n Heavyweights HUL and ITC carry similar setups, expect corrections to the tune of 10-15% in each of them.
n Stocks with positive short term view
n M&M, DLF (stop 225)
n Stocks with negative short term view
n Dish TV, Asian Paints, Bharti, Tata Motors, HUL, ITC, TCS, L&T, Sun Pharma, Ranbaxy, Wipro
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