Techcheck Daily Nifty 6150 crucial short term hurdle:: Emkay

Visit http://indiaer.blogspot.com/ for complete details 􀂄 􀂄

Techcheck Daily

Nifty 6150 crucial short term hurdle

n     Chart of the Day: HBL Power System, the stock has broken out of continuation triangle, initial targets can be pegged around the 35 mark, the stock looks like breaking out into multi month advance and should finally target 40+ levels.

n     Nifty 6000-6150 to remain the trading range, momentum signatures though suggest weakness, a short term dip to 5800-5830 cannot be ruled out yet

n     Nifty the medium term uptrend remains intact, target 6500, hence this short term dip can be used for buying

n     INR initial targets met, double bottom at 44.05, expect a bounce back till 45-45.5

n     Stocks with positive short term view:

n     HBL, LIC, IIFL, Petronet LNG, ICICI Bank, Reliance, Infosys, Andhra Bank

n     Stocks with negative short term view:

n     Exide, Alstom, Sesa Goa, BHEL