Fwd: Techcheck Daily: Case for a small bounce
Deepak Vaishnav
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Techcheck Daily |
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Case for a small bounce |
n Chart in Focus: Case for a bounce, MSCI world index finds some feet around the 290-300 mark, daily momentum indicators exit oversold region hinting at a possible pullback/bounce
n US 10yr prices have broken out (despite the downgrade); 125-127 remains a good support area and a launch pad for targets in the region of 135-136
n USDINR continues its advance without any hue or cry, should add to the negativity once reality sets in, expect initial targets around 47-47.5 mark
n Gold $1800 done with, we revisit the current setup and upgrade targets to 1830-1870 levels, stop profits though should be trailed to 1714 levels
n Nifty short term setups too hint at a bounce, a move till 5250-5400 can be used to reinitiate shorts
n Stocks with positive short term view
n Reliance Infra, Maruti, Reliance, SBI, Infosys, TCS, HCL Tech
n Stocks with negative short term view
n Hero Honda, Aurobindo Pharma (stop 161), BOB, ITC
Warm Regards
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Sarvendra Srivastava |
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Technical Strategist | Emkay Global Financial Services Ltd. | www.emkayglobal.com | Email : sarvendra....@emkayglobal.com |
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Board No. : +91-22-66121212 | Extn. : 243 | DID : 66121243 | Mob : +919819701235 |Fax : +91 66242410 | |
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Deepak Vaishnav
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Techcheck Daily |
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Techcheck Daily: Gold upgrade targets to $1830-1870 |
n Gold $1800 done with, we revisit the current setup and upgrade targets to 1830-1870 levels, stop profits though should be trailed to 1714 levels
n USDINR should be the next big negative surprise, prices break out of a triangular consolidation, initial targets 47-47.5
n MSCI World’s RSI hits mega-oversold levels, damage done to long term setups; after a likely bounce expect the recent lows to get tested and possibly broken
n Nifty short term setups hint at a bounce, a move till 5250-5400 can be used to reinitiate shorts
n Revisiting our monthly Bollinger distribution we believe that the lower bands at around 4770 should also get tested before meaningful reversals can set in
n Gold price extensions continue, targets of 1800 in sight
n Stocks with positive short term view
n Reliance Infra, Maruti, Reliance, SBI, Infosys, TCS, HCL Tech, REC
Deepak Vaishnav
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Techcheck Daily |
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DJIA 11900-12000 remains an acid test |
n Chart in Focus: DJIA short term pullbacks underway, just as daily momentum picks up, 11900-12000 now remains the acid test, a failure to go past the same could result in further weakness
n Bank Nifty initial targets met prices take support. 9920 remains a good short term support/pivot point, expect a bounce till 10700-10850 (61.8% pullback)
n Nifty similar setups, expect a likely bounce till 5250-5350
n US 10yr prices have broken out (despite the downgrade); 125-127 remains a good support area and a launch pad for targets in the region of 135-136
n USDINR continues its advance without any hue or cry, should add to the negativity once reality sets in, expect initial targets around 47-47.5 mark
n Gold $1800 done with, we revisit the current setup and upgrade targets to 1830-1870 levels, stop profits though should be trailed to 1714 levels
n Stocks with positive short term view
n Maruti, Reliance, SBI, Infosys, TCS, HCL Tech
Deepak Vaishnav
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Techcheck Daily |
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USDINR continues to remain a concern |
n Chart in Focus: USDINR breakout holds for the second week running, we maintain initial targets at 47-47.5, similar setups on the S. Korean Won (1100 remains the breakout level)
n Nifty the monthly Bollinger setup now remains a cause of concern, lower band starts to fall for the first time in the past 52 weeks, thus hinting at longer term weakness
n Bank Nifty initial targets met prices take support. 9920 remains a good short term support/pivot point, expect a bounce till 10700-10850 (61.8% pullback)
n Nifty similar short term setups, expect a likely bounce till 5250-5350, sell side risk rewards would than become compelling
n US 10yr prices have broken out (despite the downgrade); 125-127 remains a good support area and a launch pad for targets in the region of 135-136
n Stocks with positive short term view
n Reliance, SBI, Infosys, TCS, HCL Tech
n Stocks with negative short term view
n LIC Housing, Hero Honda, Aurobindo Pharma (stop 161), BOB, ITC
Deepak Vaishnav
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Techcheck Daily |
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DXY short term setups look weak |
n Chart in Focus: DXY short term setups look weak, should target 71.7-72 were it should complete a bullish wedge, the pattern remains a very important medium term trend decider. We believe that this weakness should support equity prices for some time
n Nifty medium term and long term setups hint at 4700-4800 being very important supports, moreover short term setups hint at a bounce till 5250-5350
n USDINR breakout holds for the second week running, we maintain initial targets at 47-47.5, similar setups on the S. Korean Won (1100 remains the breakout level)
n Nifty the monthly Bollinger setup now remains a cause of concern, lower band starts to fall for the first time in the past 52 weeks, thus hinting at longer term weakness
n US 10yr prices have broken out (despite the downgrade); 125-127 remains a good support area and a launch pad for targets in the region of 135-136
n Stocks with positive short term view
n Reliance, SBI, Infosys, TCS, HCL Tech
n Stocks with negative short term view
n LIC Housing, Hero Honda, Aurobindo Pharma (stop 161), ITC
Deepak Vaishnav
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Techcheck Daily |
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Nifty 4crucial long term supports @4700-4800 |
n Chart in Focus: Nifty opening should be close to our medium target range, bounce did not materialize, the way it did in global indices (negative divergence, sign of weakness), 4700-4800 remains crucial support range, we are keeping a close watch
n Bank Nifty headed for lower channel targets, 8600-8800 opens up
n Nifty the monthly Bollinger setup now remains a cause of concern, lower band starts to fall for the first time in the past 52 weeks, thus hinting at longer term weakness
n USDINR breakout holds for the second week running, we maintain initial targets at 47-47.5, similar setups on the S. Korean Won (1100 remains the breakout level)
n DXY short term setups look weak, should target 71.7-72 were it should complete a bullish wedge, the pattern remains a very important medium term trend decider.
n US 10yr prices have broken out (despite the downgrade); 125-127 remains a good support area and a launch pad for targets in the region of 135-136
n Stocks with negative short term view
n PNB, Yes bank, Axis Bank, Bank Nifty, LIC Housing, Hero Honda, Aurobindo Pharma (stop 155), ITC
Deepak Vaishnav
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EMKAY GLOBAL FINANCIAL SERVICES LTD. is pleased to invite you for a conference call to discuss the Q2FY12 results with Mr. R. Rajendran, Director Finance
LAKSHMI MACHINE WORKS LIMITED On Tuesday, November 1, 2011 at 3.00 PM
Dial-in Numbers: Primary Number: +91 22 6629 0048 Secondary Number: +91 22 3065 0020 (The numbers listed above are universally accessible from all networks and all countries) Local Access Number: 6000 1221 (Available in - Delhi, Bangalore, Chennai, Hyderabad, Kolkata. Accessible from all major carriers except BSNL/MTNL) 3940 3977 (Available in - Gurgaon (NCR), Bangalore, Kolkata, Cochin, Pune, Lucknow, Ahmedabad, Chandigarh. Accessible from all carriers)
Toll Free Number: USA: 1 866 746 2133 UK: 0 808 101 1573 Singapore: 800 101 2045 Hong Kong: 800 964 448
For further information please contact |
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Naval Seth Tel: +91 22 66242414 Cell: +91 9930468398 |
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Deepak Vaishnav
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EMKAY GLOBAL FINANCIAL SERVICES LTD. is pleased to invite you for a conference call to discuss the Q2FY12 results with |
Mr. Ashok Goel – Vice Chairman & Managing Director Mr. A. V. Ganapathy – CFO Mr. M. R. Ramaswamy – President Mr. R. Chandrasekhar – President Mr. Vinay Mokashi – Financial Controller
ESSEL PROPACK LIMITED On Monday, October 24, 2011 at 2.00 PM |
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Dial-in Numbers: Primary Number: +91 22 6629 0048 Secondary Number: +91 22 3065 0020 (The numbers listed above are universally accessible from all networks and all countries) Local Access Number: 6000 1221 (Available in - Delhi, Bangalore, Chennai, Hyderabad, Kolkata. Accessible from all major carriers except BSNL/MTNL) 3940 3977 (Available in - Gurgaon (NCR), Bangalore, Kolkata, Cochin, Pune, Lucknow, Ahmedabad, Chandigarh. Accessible from all carriers)
Toll Free Number: USA: 1 866 746 2133 UK: 0 808 101 1573 Singapore: 800 101 2045 Hong Kong: 800 964 448
For further information please contact |
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Pritesh Chheda Tel: +91 22 66121273 Cell: +91 9820807241 |
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Prashant Kutty Tel: +91 22 6612 1341 Cell: +91 9819081715 |
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Deepak Vaishnav
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EMKAY GLOBAL FINANCIAL SERVICES LTD. is pleased to invite you for a conference call to discuss the Q2FY12 results with |
Mr. Anil Gupta – Joint Managing Director Mr. Rajesh Gupta – Group CFO and Director (Finance) Mr. Rajiv Goel – President – Sylvania Global
HAVELLS INDIA LIMITED On Tuesday, November 1, 2011 at 4.00 PM |
Deepak Vaishnav
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EMKAY GLOBAL FINANCIAL SERVICES LTD. is pleased to invite you for a conference call to discuss the Q2FY12 results with |
Mr. Sanjay Govil – Chairman Mr. Upinder Zutshi – Managing Director & Chief Executive Officer Mr. Sanjeev Gulati – Sr. Vice President - Finance
INFINITE COMPUTER SOLUTIONS (INDIA) LTD On Wednesday, 9 November , 2011 at 11.00 AM
Dial-in Numbers: Primary Number: +91 22 3065 0020 Secondary Number: +91 22 6629 0048 |
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(The numbers listed above are universally accessible from all networks and all countries) Local Access Number: 6000 1221 (Available in - Delhi, Bangalore, Chennai, Hyderabad, Kolkata. Accessible from all major carriers except BSNL/MTNL) 3940 3977 (Available in - Gurgaon (NCR), Bangalore, Kolkata, Cochin, Pune, Lucknow, Ahmedabad, Chandigarh. Accessible from all carriers)
Toll Free Number: USA: 1 866 746 2133 UK: 0 808 101 1573 Singapore: 800 101 2045 Hong Kong: 800 964 448
For further information please contact |
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Manik Taneja Tel: +91 22 66121253 Cell: +91 9833934924 |
Deepak Vaishnav
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EMKAY GLOBAL FINANCIAL SERVICES LTD. is pleased to invite you for a conference call to discuss the Q2FY12 results with |
Mr. Srijit Dasgupta - Director & Chief Financial Officer Mr. Sujyoti Mukherjee - Sr. General Manager-Finance & Accounts
BERGER PAINTS INDIA LTD. On Tuesday, November 8, 2011 at 4.00 PM
Dial-in Numbers: Primary Number: +91 22 6629 0048 Secondary Number: +91 22 3065 0020 |
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(The numbers listed above are universally accessible from all networks and all countries) Local Access Number: 6000 1221 (Available in - Delhi, Bangalore, Chennai, Hyderabad, Kolkata. Accessible from all major carriers except BSNL/MTNL) 3940 3977 (Available in - Gurgaon (NCR), Bangalore, Kolkata, Cochin, Pune, Lucknow, Ahmedabad, Chandigarh. Accessible from all carriers)
Toll Free Number: USA: 1 866 746 2133 UK: 0 808 101 1573 Singapore: 800 101 2045 Hong Kong: 800 964 448
For further information please contact |
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Pritesh Chheda | ||||
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Tel: +91 22 66121273 Cell: +91 9820807241 |
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Sweta Jain Tel: +91 22 66242479 Cell: +91 9892317596 |
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Deepak Vaishnav
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EMKAY GLOBAL FINANCIAL SERVICES LTD. |
is pleased to invite you for a conference call to discuss the Q2FY12 results of
HIMADRI CHEMICALS AND INDUSTRIES LIMITED With Mr. Anurag Choudhary - CEO
On Monday, November 21, 2011 at 4.00 PM |
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Dial-in Numbers: Primary Number: +91 22 6629 0048 Secondary Number: +91 22 3065 0020 (The numbers listed above are universally accessible from all networks and all countries) Local Access Number: 6000 1221 (Available in - Delhi, Bangalore, Chennai, Hyderabad, Kolkata. Accessible from all major carriers except BSNL/MTNL) 3940 3977 (Available in - Gurgaon (NCR), Bangalore, Kolkata, Cochin, Pune, Lucknow, Ahmedabad, Chandigarh. Accessible from all carriers)
Toll Free Number: USA: 1 866 746 2133 UK: 0 808 101 1573 Singapore: 800 101 2045 Hong Kong: 800 964 448
For further information please contact |
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Pritesh Chheda Tel: +91 22 66121273 Cell: +91 9820807241 |
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Prashant Kutty |
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Tel: +91 22 66121341 Cell: +91 9819081715 |
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