Crude reverses target 80, HPCL and BPCL look good:: Emkay

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Techcheck Daily

Crude reverses target 80, HPCL and BPCL look good

n     Chart of the day: Crude Oil, ‘bearish outside day’, prices reverse from a very strong supply line, expect a correction back to 80 levels in coming weeks, we like HPCL and BPCL

n     Nifty 5930-5950 remains the short term support range, the uptrend remains intact as long as we hold these levels, daily momentum with recent buy readings supports the inference

n     Bank Nifty, correction overdone, maintain bullish stance as long as bullish channel supports at 11500 hold

n     Stocks with positive short term view:

n     HPCL, BPCL, 3i, Rolta, ACC, HDFC Bank, Cipla, Reliance, L&T, Infosys

n     Stocks with negative short term view:

n     Tata Steel, Chambal Fertilizer, TVS Motors, Jet Airways, Axis, Dabur