Technical view by Nooresh

Consolidation and Volatility to continue

Sensex has bounced well to 14900 levels but should ideally try to fill the gaps arnd 15060 -15100 in coming days ... Supports placed at 14500-14600 range for extreme short term . With easing of global concerns and internal govt etc we should see a round of consolidation for some weeks .. Continue to look towards investment opportunities on declines till 14200 levels ..

Power , Banking and cement stocks are looking good with a medium term view look for dips to add .. IT and autos is still not an area where i would like to invest and have maintained the view in the past few months ..

Of late there are not many short term calls as the volatility is too high but some stocks like Indo tech transformers , Sanghvi movers etc have hit new 52 week highs during these times..Elecon engg , others strong ..Majority of the short term trades are triggered in the day so will put some of the messages of the day

Monday :
meraninooresh (10:37:35 AM): Buy Small qty Sail at 148-149 for btst

meraninooresh (11:49:58 AM): Reliance Inds if closes above 1820-1825 looks good for a bounce to 1880 levels

meraninooresh (2:43:37 PM): Reliance looks good for 1840-1880 in next 2-3 days


meraninooresh (10:51:57 AM): BUY small qty in KLG systel now at 460 add more on declines to 435-444 for medium term investment

meraninooresh (2:02:47 PM): reliance inds going towards 1880

meraninooresh (2:15:29 PM): TTML looks good for btst tgt 31-31.5 buy arnd 30.20- 29.6 ( reco in todays newsletter for accumualtion )

meraninooresh (3:14:27 PM): Book profits in SAIL at 153.4 near to our tgt of 154 ....Book 20% of holding in TTML to conserve some gains for tgts check newsletter

meraninooresh (3:21:20 PM): UCO Bank up 6 % ( newsletter reco )

Weird small cap Ideas :

Tourism Finance ( TFCIL ) recommended earlier also has firmed up to 25.8 did give an opportunity to buy on declines till 23-24 still looks good to be added and fresh buying can be initiated if u can take 10-15% risk from current levels for a tgt of 35-40 in short term

Mold Tek Tech ( 526263 )

Annual Eps of 8 with reliance capital asset mgmt holding 3 % stake for last 1 yr or more looks a good stock as per speculative analysis on charts ... can knock some ckts in coming days ....Can be bought on declines till 120 if u have patience ..

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Best Regards,



Article by Nooresh Merani

Nooresh has written 2531 articles.

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