Technical Analysis of Indian Equities by Nooresh

Volatitlity at its best !!! … Pendulum movements

Sensex continues to oscillate and as i have written not a gr8 time for traders …….Its an investor market with a whole lot of stocks which are and will be available at good levels for long term investments . So pick ur picks ..

As i always say it is not necessary to trade every day …. But traders cant help their urge , and end up cutting into the profits gained in this rally .. Gap ups and gap downs are not the best times for traders … And repeating for last so many days dont be on leveraged positions !! Coz the risk is reduced and if u r holding good quality stocks entered at good levels the current corrections will not bother u but help u to buy more on declines slowly …

Sensex view:

Sensex as expected has taken support at 14700 areas and surpassed the resistance areas of 15400 but could not sustain … The current consolidation between 14700-15200 is a time to look for particular stocks for long term accumulation and not for traders !! Wait for a solid bottom formation at 14700-14900 followed by stability in next 6-8 sessions of volatility … Stock specific moves will continue in some strong stocks

Review :

JP hydro touches 45 + for investment one can re enter slowly between 40-42 , Walchandnagar does intra freeze at 2590 cool returns hold on for long term bonus etc , Kilitch hits 3 rd ckt , remi, apple , harig , neo sack intra ckts …Solar , indo , elecon look good for investment , vimta does tgt 175 Keep strict stoplosses in other calls given and enter only sustaining of above levels

Moderate RIsk investment :

RDB Inds

In the earlier run it was touted to have big properties across kolkata etc and resisdential projects … Warrants and convertible shares placed at 160-170 levels !! Now available at 130 levels !! .. Two ways to go about it technically … Keep a stoploss of 115 and buy around 125-130 or buy on close or sustaining above 138 levels for a tgt of 160 and 220 in next 3 weeks to 6 mths .

Best Regards,



Article by Nooresh Merani

Nooresh has written 2744 articles.

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