Technical view by Nooresh

Patience …..and discipline are followed by MONEY ..

Patience and discipline are follwed by MONEY .........and the lack of these virtues needs divine help :)

The last two days of fall has screwed quite a lot of leverage traders as they have got into positions which they do not have the risk taking capacity ..,.... So the disciplined traders and investors who always have reserves and dont get into more then what they can risk will like to use this correction for more rewards ... You need to be disciplined and ruthless with ur stoploss , risk and money allocation strategies to be able to optimize returns in volatile emerging markets like India.. ... U r never late sir opportunities are galore here be patient ...

Well we had come out ina contra way at 12300 about nothing to worry and have given n used ample opportunities in the current rally till 15800 levels so now its a matter of conserving profits and capital accumulated .... If u dint enjoy the rally frm 12500 or say 13000 or say even 14000 to 15800 the current correction will obviously make u a little uneasy and u need to learn to endure the volatile times coming ahead ....

IT stocks like Infosys , TCS and Wipro are near or below their support levels and it would be better to avoid them then do bottom fishing for small gains ,,,,Look towards better growth sectors ,

Review : Weird small cap ideas ( RISKY always so take exposure as per ur guts ) Ferro Alloys , Foundry fuels , Harig crankshaft have come down frm the highs do book profits and exit good chunk ... Mukat pipes hits 2 ckts .. JP hydro investment hold . Eicher Motors keep holding small qty ,

Elecon Engg had been repeating for safe investment for last 2 weeks it has moved well from 555-560 levesl to 630 which is around 10-12 % and i maintain the tgts of 700-1000 in medium termm ... Indo TEch Transformers is another stock which looks good for investment but u need patience ............

One thing i have noticed nowadays due to such a good rallying markets everybody has lost patience and wants returns in the shortest possible time and this has been the reason for all the indiscipline ... Anybody i meet ... The first thing he asks is give me a quickfire , rocket , short term 20-40 % de de bas , ANY calls NOW , BTST , intra day etc etc..........

I hardly noticed anybody asking give me some safe investment stocks which will give decent returns in next 3- 6 mths .... The want to gain quickly and the greed is a factor we need to control ... Use investing as a wealth creation tool and not a daily income :)

Stocks for Now :

EMAMI ltd ( 531162 ) keep a strict stoploss of 212 on closing basis and hold period 3 weeks tgt 260 . Another Fmcg stock looking good on charts little illiquid so take lesser exposure

Bharti Shipyard
Another investment pick frm the shipyard sector which i have covered in my earlier views many times at lower levels along with ABG shipyard ( 400 to 600 in 2-3 mths frm investment reco many times safe one also ) . Keep a stoploss of 525 and buy small qty or buy on close above 568 target 600-650 .. hold for 2 weeks to 3 mths

Thought of the day :

The measure of success is not whether you have a tough problem to deal with, but whether it's the same problem you had last year.



09819225396 ( to chat with me on yahoo ) ( for queries )

Article by Nooresh Merani

Nooresh has written 2531 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment