Technical view by Nooresh

Sensex takes support at 61.8% !! …

Sensex as i have written in my yearly view 14700 and 15100 are good areas to enter .. These were based on the fibonacci retracements zones .. On a monthly note the Sensex intermediate trend remains extremely bullish till it stays above 14370 levels !!

For the current highs made 15868 the 61.8% retracement is placed at 14680 which is a good place to enter .. I expect the markets to consolidate around this trendline and fibo support .. So start picking your picks now be selective ..

Dow Jones now becoming an important cue of late has not broken its intermediate range support at 13150 as shown in the Dow chart ............. It has huge support at 12800-12900 so downside is limited ..

Stocks in the Index which look good : All banks i remain bullish on banks for long term , Reliance looks good around 1750 , Punj Lloyd ( next LnT in the making ) , ITC good buying seen above 180 will rock , RCOM around 525-530 , Tata Power and REL , SBI remains a fav saying on messenger for last whole week hits 52 week high !!evergreen stock never sell

Stocks to watchout for medium term investments :

Action Construction

i have been liking this stock for a long time, alas it has touched 320 levels giving a very good breakout ... buy on declines tgt 375-440 in medium term

Walchandnagar inds

yes my favourite for long term with an ineveitable liberal bonus any time can shoot ... Close above 2350-2400 levels expect a non stop move to 3000 levels .. SO those who have booked partly can enter above 2400 !!

Street Talk :

RNRL heading towards 48-50 and 5 yrs down the line a bagger

IFCI set for the ipo levels ...

IT and auto stocks avoidable ... Power stocks to rock .. Cements accumulated by the promoters big time in the recent crash was it made up ?? .. Infra without cement is it possible ...

NMDC n MMTC gold mines only no floating stock in the mkt ..., Pennar inds , Sunflag iron , South Iron , Kirloskar Ferrous all small steel and ferrous stocks are turnaround stories in next 1 yr multibaggers ,

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

Best Regards,


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Article by Nooresh Merani

Nooresh has written 2532 articles.

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