Technical Analysis of Indian Equities by Nooresh

Risk rewad not on the Right Side !!

Sensex continues to notch higher levels ... Now we are in our huge resistance zone of 16900-17150 which is my target for the current thrust which should slow down in next 5-8 sessions .. The strategy is simple be highly stock specific as the current slowdown could still see euphoric moves in other stocks ... As a correcting market doesnot imply everything will go down ... Always be on the hunt for good opportunities .. some people might have missed out on our petronet , mrpl , sun flag , ispat , south iron, JP Hydro,Nagarjuna Fert etc etc coz seeing the Sensex at highs isnt that a stupid reason to desist buying a good momentum funda + tech picks..

Approach is simple just ride the investments and use momentum to trade with strict stops .

Review :

We have been doing less of fresh buying for medium term , rather trading for extreme short term and enjoying the investments ride

JP Hydro frm 38 to 82 still on n on ...
Nagarjuna fert frm 20 and 25 to 58 .... never sell
Petronet Lng 67 to 87 .... our investment tgt 95
MRPL frm 48 to 65 + ....our tgt of 65 surpaased
TTML frm 29 to 43 ....still holding
Ispat Inds frm 17 to 29+, Sun Flag Iron 16 to 27 + ....long term baggers
South Iron frm 33 to 37 ...start of it
K S Oils frm 54 to 84 .....Added more at 76 tgt 90+
Gremach Infra frm 195-200 to 266 ...just the start of it
RNRL frm 30 to 70 + surpassed our tgt of 70 .,.. but trailing small qty now
RPL frm 115 to 160 ... never sell
Mercator lines frm 55 to 75 , added at 60 and 74 today tgt 90+

The above is a list of last few weeks not considering the adanis , walchands etc..

Some laggards Asian Tiles , Spicejet, chennai petro some others which hit our small stoplosses..

In todays market we enjoyed the madenning moves shown in JP hydro ( 64-66 to 80 ) , Petronet ( 80-81 ) , MRPL ( 61- 62 to 68 ) , Nagarjuna Fert ( 53 to 58 ) .............Alerting watchout messages on the same were sent to clients about momentum at the given prices

Stocks to watchout for :

Guj Inds Power ... GIPCL

Buy with a stoploss of 79 for a tgt 95-100 in next 2 weeks to 3 mths

Sugars :

I expect a next round of buying in sugars which could be again 5-15 % and FNO picks would be more gains ... Have again recommended re entering the sugars namely - Bajaj Hind at 181-182 , Balrampur chini at 80-80.5 , Renuka Sugars at 700 , Triveni Engg at 116-117 ...All carried home today for BTST as well as short term ... Bajaj Hind is the best on charts

Long term category :

Kirloskar Ferrous

The company seems to be turning around on charts and fundamentals buy between 45-50 with a view of 3 mths to 1 yr .. Another addition to long term category ..

TECHNICAL ANALYSIS SESSION MUMBAI : Scheduled for Sept 29-30 . do get in touch to confirm your entry ....For more details Nooresh 09819225396 ...Also people from other cities interested mail me ur details so we can arrange a session in the city , Delhi is on cards soon in october ...... An old post giving a brief of the course for more queries Nooresh 09819225396 .

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Best Regards,

Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2787 articles.

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