Technical Analysis of Indian Equities by Nooresh

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Weak Hands removed !!! …. Bounce faster …

After the fall in DOW jones there were so many messages flooding my messenger and calls about a black friday and monday etc etc and all we said was wait and hold …

these were the lines of todays newsletter and its pity clear …

SHOULD WE GO & SELL? IF THAT IS THE QUESTION YOU ARE ASKING AT THE MOMENT, THEN ANSWER IS “””NO”””


On Friday itself in the day i made 2 posts !!!

SENSEX support at 15130 and we would not go below that and those waiting for correction should enter now ( bold and contra way ) .,…..Sensex low 15135 !……………..I think this much inaccuracy is acceptable .. Also for Nifty too gave the chart and said enter now…

http://nooreshtech.blogspot.com/2007/07/sensex-382-at-15130-and-15000-15100.html

Pure technical analysis !!

All the stocks in the mid n small cap segment have recovered back to the thursday levels and higher also only A group stocks are a lil aback …

View now :

Sensex has given a good reversal sign as per candles and should fill up the gap down at 15650 which will resist … Fresh upmove would be seen on close above 15800 and will negate all bearish possibilities … Strategy is simple keep strict stoplosses and conserve the profits gained and never remain over leveraged thats a personal view coz i dont like margins or leverage πŸ™‚

Review :

EDUCOMP hits 2630 on BSE .. does 2570 1st tgt … now set for 2680 !! ….

Eicher motors still a hold , Jp Hydr stable , Ferro Alloys yet another ckt 10.8 to 14.18 cool gains and more to come , Foundry fuel 9.70 to 11 a laggard , Peerless abasan fresh move 70 + now frm 28 hold , Expo gas 9.5 to 36 exit if u have not , Mukat pipes 1st ckt …

Stocks to watchout for short term :

SBI has given a good breakout and a close above 1630 should tgt 1760 levels in extreme short term

Punj Lloyd on close above 290 should tgt 305-320

Elecon Engg for investment keep holding the stock as safe fixed deposit and tgt 700 -1000 in 3 mths to 1 yr and good enough returns … can move in short term also

Indo tech transformer another investment pick for short to medium tgt 20%

Risk calls :

RNRL to tgt 48-50 in extreme short term ,Kirloskar ferrous to hit 55 -60 in 2-3 mths , Ramco systems 20-30% upmove on cards….

THOSE OF WHO ARE BASED IN DELHI OR NEAR AND ARE INTERESTED IN LEARNING TECHNICAL ANALYSIS DO GET IN TOUCH WITH ME FOR QUERIES AND DETAILS … NOORESH 09819225396

If u like the stuff written on this page can pass it around let all learn , earn and enjoy πŸ™‚

Best Regards,

Nooresh

09819225396

meraninooresh@yahoo.com and noorrock2002@gmail.com

Article by Nooresh Merani

Nooresh has written 2744 articles.

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