Technical Analysis of Indian Equities by Nooresh


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 /…..

FOr our SMS service + newsletter + yahoo messenger check for details and mail to for payment details…. Honest technical analysis and market reading




Article by Nooresh Merani

Nooresh has written 2744 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment