Technical Analysis of Indian Equities by Nooresh

Bounce but not a rally ……………………Be selective ..

Sensex has good support in the range of 13800-14000 as said before and below that it can get scary .... A bounce back to 14300-14500 range should be used to lighten yourself from overheated stocks and restructure the portfolio to new growth areas and keep a good amount of cash to use opportunities in short term . Some heavies like RIL , SBI , TISCO as expected have seen the 1st round...The heavies mainly RIL could lead tomorrow along with rcap
Some of the stocks which we had given good investment levels have come to the zones ...do check our previous posts for them.,...Aptech and Rolta can do 1st round of buying and wait for further declines if any...
Stocks to watchout for :
Finolex Cables looks good for short term investment ....Long term no problems.. Grindwell Norton for patient players add on declines...
Skumars Nationwide we maintain a hold and add if it closes above 88 ...Morgan Stanley bulk deal also in it ...
Ceat looks good for investment around 150-154 levels...
Weird Small cap Idea :
After D&H welding ( 28 to 37 ) Peerless Abasan Finance ( 29 to 38 + and on ) ...
Karuturi Net .. ( 531687 )
Has been on the front pages of Times of India for big acquisitions and in a novel area of florist etc....
Looks all set for 50-80 rs jump from here....Take a risk of 10 -15 bucks and buy ...

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Nooresh

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Article by Nooresh Merani

Nooresh has written 2569 articles.

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