Techcheck Daily- Nifty crucial supports at 5950-6000

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Techcheck Daily

Nifty crucial supports at 5950-6000

n     Chart of the Day: ACC, ‘bearish harami’ formation on weekly charts, prices follow thru lower, expect 55 WEMA around 900 to get tested

n     Nifty weekly momentum indicator rolls over, negative divergences to visible, major part of the decline though seems over, 5950-6000 remains important support and can get tested

n     Nifty medium term uptrend intact and targets in the region of 6450-6600 pending 

n     DXY reversals look impressive, prices take support on a falling channel and reverse

n     Stocks with positive short term view:

n     Dr Reddy, RCF, ICICI Bank, Syndicate Bank

n     Stocks with negative short term view:

n     Ranbaxy, DLF, Unitech, Rel Com, Sesa Goa, Yes Bank, BOB