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Techcheck Daily |
Commodities look vulnerable |
n Chart of the Day: Crude Oil, bearish patterns look complete, price/momentum fall in tandem, expect 80-82 levels in coming weeks
n Both hard and soft commodities look weak, Gold, Copper and Sugar important swing tops already in place
n Nifty prices within short term channels, 6100 remains crucial support
n Nifty monthly momentum rolls over, upsides if any could be a slow grind
n BSE 500, closes negative for the quarter, after a dream 7 quarter run with a weak ‘Doji’ formation, trades close to the upper end of monthly and quarterly Bollinger Bands, upsides if at all look limited
n DXY bullish reversal patterns, targets at 85-88 once breakout happens
n Stocks with positive short term view
n OMC’s, Apollo Hosp, Chambal, Praj, Maruti, Reliance Capital, L&T, Infosys, TCS
n Stocks with negative short term view
n ICICI Bank, Yes Bank, Hindalco, Coromandel, GAIL, Bank Nifty, Bharat Forge, ACC, BHEL
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