Technical Analysis of Indian Equities by Nooresh

Waiting for a correction ??? wait for the pennies run …

All the people i have met in a last few weeks have a standard say ” I m waiting for a correction and then will enter ” ………But have u ever realised that the market wont come n tell u i have finished correcting and u would be still waiting for more and never get in isnt it………….The wait gets frustrating coz made no money so start looking for quick money to compensate ./….Pennies start roaring …. I ll wait for this history to repeat … When pennies start roaring is a signal so wait n watch …..

With the circuit filters changed for a whole lot of stocks distribution would be easier and temptation high in pennies so beware ……….U would love to see 2 10% freezes but one 10% down freeeze may make u go bust…

Sensex remains to be at the top of the channel in the band of resistance … Targets on the higher side are 15650 on close above 15200 levels ..So momentum area in good sentiments can take it to 15200 -15600 around which i would start feeling a lil uneasy it seems as of yet ……..but the strategy is simple keep holding investments for long term as i dont foresee a correction as huge as previous or before that… Be stock specific , avoid pennies ( or be quick to play with fire or be burnt ) … keep trailing stoplosses to all your good trades…

many of our recommended stocks are moving more then the conservative moves expected …. Some have hit non stop ckts and continuing….Freshtrop fruits weird small cap idea 90 to 120 … Adorwelding , sql etc have jumped…. Hold or book partly in them …. Will cover other stocks in next post …

Stocks to watchout for

Balajai tele only above….

Ashok Leyland take a risk of 75 paise on the stock and hold for this expiry unexpected gains possible ….

Investment Stocks for safe returns :

bank Of maharashtra still remains a pick for tgt 60+ given at 48 , Bartronics too

Blue Start and Lakshmi Machine works for patient investors…

Trading picks if any will be seen in the day …


Mumbai July 21-22..

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Article by Nooresh Merani

Nooresh has written 2744 articles.

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