Technical Analysis of Indian Equities by Nooresh

Trading Updates

Today we had given a call on Guj Nre coke at 36 in the morning it has hit a high of 37.15 and looks good technically if sustains 37 levels…Worst seems to be over for this stock…In extreme case can hit 10-20% in the day …

Wockhardt Pharma alerted at 385 levels in the day …

Markets will remain subdued with negative bias and we need test the 12600-12800 region to gain strength … 13300 if sustained for 4-6 sessions will negate all bearish signals as said before…Similarly 12300 if broken for 4-6 sessions bullishness will be negated for short term…The long term story remains till we dont close on weekly basis below 11400 levels…

The current rally has removed loads of bears trapped in Nifty fno …Now the new bears are being pulled in lets c how strong they are….

Street Talk :

Tech Stocks to loose sheen in short term …But long term this will be the best chance to get some good IT cos in ur portfolio …The big cos are very well hedged against any drastic changes in dollar rates …So if u get 5-10% decline which many FIIs saying coz they wanna add more to their kitty …You also do the same buy on every decline….

Auto ind another stock embroiled in controversy when some operators got Sebi warnings has seen good stake picked up by Merill Lynch …The stock has no fundamental reasons to stay at these price….Let the issue settle and this would be knocking upper circuits is the punter call….

Investment Stock :

Prithvi Info …The only laggard of our multibagger IT stock has declined a lot and looks good for investment ….


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Article by Nooresh Merani

Nooresh has written 2744 articles.

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