Technical Analysis of Indian Equities by Nooresh

Bounce not RALLY……….Traders play small…

Markets have bounced 300 points but u could see intraday pressure pulled it down so traders were killed on both sides ...This volatility and pressure on upside will remain for few days or i would rather say few weeks ...I would like it to remain and consolidate ....

Still i maintain no buying by short term traders...This is the time for investors pick ur choices and start adding few everyday ....Traders who had exit at our call are now getting impatient ...Wait guys dont go overboard play small make small and stay happy for some days ...

Considering the global scenario it has still not stabilized and will take time and the cues will remain good for this week so a good week for bulls it seems...... One peculiarity of indian markets is it tanks with global cues but when they become stable it takes it own course, so rally will only start after stability worldwide which will take time...

Doom Specialist and big Bears will come on TV and meet u down the street ... ...But isnt it gr8 these guys have to come when it has already tanked ............Many big tech and fundamental analysts will say a bear market .. This happens in every fall i remember Marc Faber saying 6k at 9k levels we nearly missed 15k . .......I maintain negation of long term bull trend below 11400 close only on weekly basis...

JOKE or Reality :

A bearish guy came and told a friend of mine sensex is gonna touch 9 k .. I asked my friend how much cash u waiting with to enter .. he said 5 Lakhs ...I said dont enter this guy is bearish and it will touch 9k ...You will loose 30-50% of ur cash ....

I said to that guy why the f... should i bet on markets i bet 5 lakhs with u if we dont see 9k forget it 10 k also u pay me 3 lakhs ...if we see i give u 5lakhs .........This guy ran away that shows the credibility and conviction of doom people!!!!!!!!!!!.... !!!! Get greedy when people get scary...

An Offer :

Those guys who feel we gonna see 9k to 10 k please put in bets i m giving rates of 1:3 bet a rupee get 3 ....

My view : 11400-11800 if we do see it in coming days that would be the opportunity ....We before the time of 8800 had said buy till 9250 and 8900 stoploss 8800 and this would be the last time you would see this levels...

Still i dont feel we are gonna see 11400 so early .... If we do see i would advise take loans and put in stocks ....Risk is 500 -700 points on Sensex but gains will continue for lifetime...!!!!!!!!!

This week will be very sideway ...Now dont tell me a bounce of 500 points against a 1500 point fall is a rally ....So wait let the dust settle down and we will take positions ...Stock specific investments can be done ...IT stocks bounced back 8-10%%% cool the guys who put in 30%% of their money dont book profits wait for declines to add...


Weird Stocks Take ur own call :

SRF ....

How much more can it correct ideal bottom fishing candidate ...Lot of fundamentalists literally pushed me into this gutter frm 200 to 116 ...Luckily technicals saves me always ...But yes technically very very over sold add at every 2 re decline soon u ll get 5-8% gains..

Usher Agro :

Very strong Move on charts had recommended earlier ......Has broken out and sustained 14.30 levels as said before if markets remain good will touch our tgt 16-18.....

Camphor and Allied Products : After good consolidation has given a huge move after a long time 20% up today ...Dint fall a rupee in the slide...Keep a check something cooking...

Saksoft keep a watch very illiquid and small equity nothing in public ...Relcap ( i like this fund they only seem to operate coz everything runs ) holds 3-4% stake...

Regards,

Nooresh

9819225396 ( Mumbai people can get in touch )

noorrock2002@yahoo.com















Article by Nooresh Merani

Nooresh has written 2557 articles.

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