Techcheck Daily DXY looks headed till 80 n EMKAY

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Techcheck Daily

DXY looks headed till 80

n     Chart in Focus: DXY weekly momentum readings turn positive, just as prices hit 2 month highs, prices breaking out of strong trendline cluster and the 200 DEMA as well, expect highs at 77.17 to get broken and peg initial targets at 80

n     WTI Crude prices showing an inverse picture, trading just below resistances and a making bearish continuation pattern, expect resistance at $90-92, with visible downsides till $78-80

n     Nifty momentum weakness persists within the current pullback, negative divergences emerge on short term charts, risk rewards now turning in favour of bears though best case we might stretch till around 5200

n     DJIA critically poised yesterdays high at 11477 crucial pivot for the day, momentum indicators about to roll over

n     Gold prices hit new highs as anticipated, likely double top at around 1900 levels but we believe that as long as 1774 is held an attempt at 2000 levels is pending.

n     Stocks with positive short term view

n     Cipla, BHEL, RIL (stop 832)

n     Stocks with negative short term view

n     HUL, Heromotocop, ITC