Technical Analysis of Indian Equities by Nooresh

Down but NOT OUT !!! Use distress sale

We still maintain dont enter in out here start in small lots...The previous level of 12500 maintained as a place we would like , all those guys who used our view of exit can now put their cash to optimum use ..start buying in the distress sale....

We may be down but not out !!!! the long term scenario remains till 11500 is maintained ......So this correction was much needed and will be done today itself...

Why play with falling knives, let the pain and dust settle down ... Conserving capital is important and thats why we pointed exit at the highest levels of 14500-14700 gauging the risk ....Still i maintain i m ready at 12500 or at 14400++ .... Stock specific i may like some but dont want to write that coz people end up buying fully ...

Alert :::::

All those guys who feel going short tomorrow after the global cues ....Please take care no market player is dumb to buy at higher levels tomorrow morning .....Dont get seduced into the morning bear trap for few bucks can kill u ....Avoid trading a lot ...The day is for investors to pick in distress sale ...Will be adding up some stocks to the list given in FNO blog ...Mainly a grp stocks ....

Distress sale on cards...

Review :

Prajay engineers and Gesco give 7-8 % in the day itself what more do u need ...Many realty stocks on upper freeze ,,,technical timing ...But ddont get carried away get lighter in this bounce ..reduce exposure ...Sugars would give little higher levels to exit so book some losses in ur high priced investments ,then carry the pain ...Jetking info hits upper freezze...

Ankur Drugs hits 233 frm 190 , ...Niit continues knocking 52 week high keep this gem dont sell ...
Aptech training holds firm can book some profit at higher levels to re enter..

Some days back we had written about re rating in stocks like mukta arts , pritish nandy communication , bag films and balaji tele...

Mukta hit 10%% yest in weak markets too much more to come in this stock huge mthly breakout...
Pritish Nandy did well and now back on track ,Bag films is on circuits till now ...Balaji tele maybe the oddlot the value seems to be incorporated ...

Stocks that can move against the trend :

IFCI fresh upmove to 33 on cards,

Shrachi Securities Huge upmove on cards in coming weeks add on declines ,...
Big breakout soon...if sustains 72 one side movement

Investment Ideas :

Animation related stocks ::::

I have started liking this sector as there is huge scope for outsourcing boom other then IT ...
The stocks i would pick would be UTV software and Tata Elexsi ....

Regards,

Nooresh

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Article by Nooresh Merani

Nooresh has written 2627 articles.

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