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Shipping the flavour, Mercator the stock |
n Chart of the Day: Mercator Lines, the stock looks extremely good long term, the breakout looks very convincing with the first month contract clocking highest volume since Jan 2009
n Other shipping stocks like Great Eastern, ABG and Bharti Shipyard also look good for short term
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 any short term dip can be used for buying
n Volumes too confirm medium term strength
n Stocks with positive short term view
n Mercator, HBL, LIC, IIFL, ICICI Bank, Reliance, Infosys, Andhra Bank
n Stocks with negative short term view:
n Exide, Sesa Goa, BHEL, BOI, BOB, Axis
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