Technical view by Nooresh

Consolidation will be good ……..volatility always

Sensex has taken support around the 61.8% correction level of 12700 region ... Should now consolidate or rather say volatile between 14700-15200 region .... Traders are supposed to take a little break and conserve the profits gained as the volatility and gap ups and gap downs are not favourable for them ...........Its an investors market with a whole range of stocks available at good valuations...

Review : EMAMI ltd hits 265 levels given at 230 good safe returns , Indo tech comes down to 485-490 levels a good area to enter for patient investors , Elecon a pick for long term hold only , Walchandnagar does intraday freeze but gives a good closing stay invested , Ace add on declines , Kilitch drugs freezed , Neo sack stable ,

Stocks to watchout for now :

Sanghvi Movers

Excellent cup and handle formation on the charts ... Fundamentally a gr8 sector and strong books .. Look to add on declines till 900-920 for an investment tgt off 1200 + in next 3-6 mths

RNRL one of my fav has given a good breakout recommended at 30 to clients for investment tgts 45-50 still open ...
Fresh short term call initiated today at 44.7 for tgt 47-49 in short term

GEI inds co recommended earlier also at 75 odd levels on blog and to clients does 98 a fresh breakout .... Add on declines till 85-90 for long term

Vimta labs buy above 160 close or around 150-154 stoploss 144 tgt 175-205

NTPC , REL , Punj Lloyd ( another LnT in the making ) look good for safe investors buy in SIP way

SESSION for Delhi being planned for 1st week of September . Seriously Interested people can get in touch to know more Nooresh 09819225396 .

Best Regards,


09819225396 ( add me on yahoo to know more ) ( mail for exclusive services and queries )

Article by Nooresh Merani

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