Technical Analysis of Indian Equities by Nooresh

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Small cap steels rock the streets !! Sugars might be next

Sensex closed down in wait of the Fed announcement and continues to face resistance and is not able to sustain above 15600 which is a crucial decider level... But through out the sluggishness which shud continue tomorrow to , there have been some excellent stock specific moves.. It seems like waiting for the known .. A .25 bps cut is already factored in so nething above or below could impact

Last 2-3 days i came out with a detailed article on small cap steel stocks look to be a gr8 buys at current levels ...the lines below were mentioned ....

As per my reading i expect all the small cap steel stocks to be at least one bagger in next 3 mths to 1 year ..20-40% gain would easily be achieved .

My picks were Ispat Inds , Sun Flag iron , Vikas Metals , Pennar inds and Adhunik Metals which was also mentioned yest and before too ....

Ansal infra hits a high of 271 , GMDC up 6% rightaway so investors chill and hold can add also , Adhunik hits 95 frm 82 reco , ISPAT 22 , Sun flag 22.60 even the small cap steels like MSP steel , Sal Steel , South Iron etc were up 5-15% πŸ™‚

All have given a move of 15-30% in last 2-3 days .. The reason is the problem with pure techies like me who would wait for the fundamental changes reflect on the charts ... So i make notice of good fundas only on good chart formations ...

As a matter of fact 3 of the above stocks were recommended to clients in last 2-3 weeks for investment and made to add more at every rise ... yea we are the pyramiding guys and not the averaging ones πŸ™‚ Now all we are doing is riding the winners with increased price tgts πŸ™‚

10-Sep-2007 10:22:01 Buy Adhunik Metal half or more qty at79-80 and add at 77 stop 73 tgt 90-100

16-Aug-2007 11:29:00 SUN FLAG IRON buy small qty for medium term investment tgt 20 + ...

21-Aug-2007 10:47:47 Sun Flag IROn MEdium term buy call maintained buy around 15.50 -16 tgt 20 +

31-Aug-2007 13:29:00 Sun Flag Iron medium term call on amove given a fresh breakout can be added on declines fresh also

21-Aug-2007 10:12:22 : Buy Ispat inds around 16-16.60 tgt 21 short term

Also this message ( Hold and Add Ispat Inds till 20 for short term tgt 24 and long term 32+ ) was sent to free yahoo list and SMS we have started ..

THOSE WHO ARE SERIOUSLY INTERESTED IN LEARNING TECHNICAL ANALYSIS CAN GET IN TOUCH WITH ME NOORESH - 09819225396 and noorrock2002@gmail.com for MORE DETAILS . WE WILL SOON BE COMING TO OTHER CITIES FOR THE SESSIONS . SO DO SEND IN YOUR CONTACT DETAILS if interested.

SMS INFO :

I was just trying this system of sending group SMS to friends. So lets try it out. To start receiving the messages read below :

SMS ->

JOIN NooreshTech to 567673434

SMS which will be charged 3 bucks i suppose. Use the exact uppercase or lower case as given. Delayed option just mail in the nos to meraninooresh@gmail.com if possible will send invite. Every sms received after joining is free.

This is no exclusive service for the group people and readers. Its open to all , we are just trying some systems to keep the readers of the blog informed. Disclaimer on right side of the blog πŸ™‚

Now the next thing which looks good on charts and on a risk reward basis is sugar stocks .... Only stock which has been covered is Triveni Engg at 58-60 levels some weeks back for a tgt of 69-75 again we did recommend btst gains in it...

We have already recommended it as a short term delivery to clients.. BTST carried all the FNO sugar stocks like triveni , balrampur , Bajaj Hind , renuka...After some time we also mentioned the same to yahoo list ...Triveni rocked frm 98 to 106

The current bounce should be arnd 5-15% in sugars can keep a stop of 3-4% frm current levels in any of the sugar stocks u like as generally its a very secular rally

Other stocks to watchout for :

IT stocks as we have been mentioning are better be avoided and rather go for IT training stocks and if u see during this periods our NIIT and Aptech are near and above life highs and IT stocks towards new lows πŸ™‚

Weird Small cap Idea :

LML Ltd

The stock seems to have bottomed out as now whatever the rate is seems to be the asset value ...well this is just a guess but can nnetime be a sellout candidate or somebody would try to revive ...Technically seems a move is in the offing high risk higher returns

Best Regards,

Nooresh

09819225396

meraninooresh@yahoo.com noorrock2002@gmail.com






Article by Nooresh Merani

Nooresh has written 2555 articles.

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