Techcheck Daily World @ 200 DEMA n Emkay

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Techcheck Daily

World @ 200 DEMA

n     Chart in Focus: MSCI World Index at long term supports (200 DEMA), this weekly close should have answers for the next 3-6 months

n     DJIA daily momentum near 52 week oversold levels, prices just above the 200 DEMA at 11780, overall setups looks weak and just expect a bounce

n     Crude oil prices break below a bearish H&S formation targets pegged around $85 levels

n     Nifty short term price momentum setups encouraging as long as 5400-5420 is held

n     Nifty monthly Bollinger setups getting tested yet again, crucial sessions ahead 5423 remains the level to watch out

n     DXY long term price momentum divergences hint at likely bottoming out of prices

n     Stocks with positive short term view

n     OMC’s, L&T, Punj Lloyd, NDTV

n     Stocks with negative short term view

n     Bajaj Auto, TCS, Dr Reddy, Auropharma, Tata Steel, Asian Paints, Exide