Technical Analysis of Indian Equities by Nooresh

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Corrections always expected but when do they come????

New Posting :

FOr last 2 -3 weeks everyone i meet tells me i will wait for some correction ……….I am like dear how much do u think will market correct and from where…………
For my business analogy like diwali is a gr8 time for the sweets guys but not for the umbrella sellers……….So simple when there is the season u dont produce less fearing the stock will be left isnt it …Rather u adapt to the situation and hire more people for the temporary isnt it ……….So why were u scared till now dint like the earning season or u just wanna be afraid of opportunities………….This is serious business …

Sensex hits a high of 15330 nearing the worst scenario or minimum tgt of 15400 and i maintain the technical targets are placed at 15650 and 16200 on the higher side which may be achieved in next 2 mths ideally ……….But the strategy is clear be stock specific and there are good stock specific moves which will continue irrespective of little jittery indices at times..

I had been saying in my messages to buddies to watchout for reliance will soon power up and it did as expected and a further rally is possible and this could kill all the bears…

Just one of the messages sent to on 9th July

meraninooresh (12:24:21 PM): Watchout for reliance in next 2 weeks if closes above 1730 … then it could get worse for bears…. reliance seems to be the sensex n nifty decider now…

And same seems to be the case again reliance nearing 52 week highs watchout for blast in it….

Nectar Lifesciences hits 20% freeze !! , Man inds up 25% gains rightaway πŸ™‚ !!! , Venus remedies also , Aptech 15% up again frm investment reco, SQL Star up 20% Hind Zinc 828 2 rs short of 830 πŸ™‚ , IVRCL goin towards 440 /// …Others will follow soon…. go through our archives for investment picks i dont like to repeat them again n again coz then it seems like bragging …

Stocks to watchout for :

Sugar stocks in next 2-10 sessions ….

Balrampur Chini if crosses 77 and Shree renuka Sugars above 675 ..Bajaj Hind above 171 though not my fav πŸ™‚

EKC above 1140 can fire cylinders ……………..

Emkay shares and Apollo sindhoori moving up as was written some time back should see buying./…India Info and Indiabulls may also buzz ….JRG sec could be a darkhorse…

High Risk High Returns :

Shree Precoated Steel another from the construction pack actually which has not moved in the current bounce can notch 2-3 ckts… PBA infras also but might with freeze so a prob…

Street Talk or just timepass talk :

IT Pack the only laggard can move up strongly to kill hopes of bears……Infy doesnt break 1900 in spite of guidance concerns is a hint isnt it ???

Autos to continue sharply ……….Reliance group stocks will continue to fire n fire and REL can touch 800 RIL 1900 , RNRL 50 RCOM 585 ………..They may lead a runaway rally /…..

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Regards,

Nooresh

09819225396

meraninooresh@yahoo.com noorrock2002@gmail.com

Article by Nooresh Merani

Nooresh has written 2744 articles.

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