Technical Analysis of Indian Equities by Nooresh

update

Sensex View

As said before fresh bullishness above 14800 only ...

The short term trend is down as said before ...Still we have not advised entry and u must have seen
the buy calls have been kept to a very few selected ones which have performed wel.. .,...Only speculative thoughts have been written mainly...

Ankur Drugs shoots frm 190-221....Rolta and wipro jump well from the panic levels keep adding,...Alpha geo , seamec , shiv vani u wont get more chances in the future to buy keep adding small ...Other charts given on FnO blog namely jp hydro , ongc , hdfc bounced from the support levels shown...

The current spurt is just a bounce and not a bull rally so be cautious and not optimistic ..Even if the budget is good or it is bad ... Sensex goes below 13300 expect a big crack ...Fresh reversal only if we close and sustain above 14400 levels .. I woul rather go full on above 14800 or at 12500 for buying...

Sector Specific Talk :

Sugars :

I remember all the big fundamentalist and elitist brains searching for value in bajaj hindusthan and balrampur from 300 and 100 levels ....I had said at 170 and 70 odd levels still more pain left ....

I had written i would like it only at 130 and 55 ( in round figures for approximation )....

Bajaj Hindustan low 134 and balrampur chini 55 ...Now if somebody bought it here or averaged he may gain 10-15% from here but i would still maintain exit again in this dead cat bounce ...I would bajaj hind crosses 250 ...

Realty and Construction Stocks :

Had specifically mentioned parsvanath and sobha could correct more ..Again after that said Realty sector is not real anymore and some correction needed...And all stocks have seen almost 30-50%%%% correction from there...

I had passed on the message on yahoo to people bounce in realty for next 2-3 days and i maintain that Ivrcl and untiy infra have moved and some more also ...

Now i would say all those realty lovers who exitted buy following stocks as investment cum short term for a gain of 20% which is good enough for an investment also ...

Prajay Engineers and Syndicate buy at 212 to 200 levels and forget ....tgt 230-250 in near term ...

Gesco In very short 2-3 days i expect 650-700 levels minimum and with a very short stop place 575 on closing cmp 604 ...

Hind construction can touch 125 -130 levels ...

trading plays :

Usher Agro ..

Hind Zinc spurt of 50-100 rs on cards...

Investment pick :

Jetking info

Article by Nooresh Merani

Nooresh has written 2556 articles.

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