Technical view by Nooresh


17kkkkkkkkkkkkkk......................I hope everyone loved it and enjoyed it :)

Just 6 weeks back some so called masters of the markets were talking about 12k -13k subprime crisis , FII pullout frm emerging markets ,BIG FALL etc etc and more bullshit ....

Now Sensex is trading at 17 k levels and close to my 1st tgt of 17150 for the year !!! ... If people do remember my tgts for the yearly views were 17150 -18250 ... Well i hope people utilized the dips very well can now generate some cash in the portfolio ...

Current View :

Sensex is reaching the higher end of the channel at 17150 levels ... So technically its a time to generate cash and remain extremely cautious for the short term as the probability of dips from these areas is very high .. Its better to be safe then sorry situation .. As a disciplined investor and trader it is very important to conserve the capital and best thing is to increase the amount of cash in hand by booking partial profits in over run stocks which can be then entered again if they dip ..Avoid stocks which you are not confident of fundamentally and are lesser volatile or have not run up a lot

At the same time seeing stock specific charts there are still no weakening signals in the BANKING , CEMENT, POWER Space and only RIL group looks a bit turning . The mid cap and small cap momentum picks continue to rock 20% on good days .. Ideal strategy is trade with a view of 1-5 sessions with strict stoplosses and reduce the amount of exposure u generally take as risk to reward ratios are not in good shape at current levels ... But as i always say we are in markets for good returns with lesser risk , so if there is an opportunity to make money u better make some rather then be scared :) ... I know some people who entirely missed the rally waiting for a correction or lil dip .. You have to take quick actions this is serious business

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 2nd -3 rd week !!

...... An old post giving a brief of the course for more queries Nooresh 09819225396 .

Review : Walchandnagar does 5k , Alpha geo 500 + , Torrent power 100+ , MRPL 80 + , Petronet 90 + , etc etc

MRPL and Petronet over ran our tgts in less then 5 sessions ... 48 to 82 , 67 to 90 .... JP hydro also
written 2 days back !!

Kirloskar ferrous and Torrent power look good for 10-20% move in next 2 weeks ... keep a stop of 3 % ..

Again repeated kirloskar ferrous yesterday !!!!!!!
Today it hit 20%%%%%%% upper freeze !!! Hope everyone enjoyed !! torrent power hit 102

GIPCL saying for last 3 days does 91 + frm 82-83 shud touch my tgt of 100 soon !!

Sugars did the jump of 5% but closed down and hit our trailing stops to the BTST positions but gave us our expected 3-8% moves ... Short term delivery in sugars is still good ... One thing with sugars is u need to catch it at the right time ...Like we took bajaj hind at 181-182 did 199 , renuka at 700 did 735 + , Balrampur at 80-81 did 84+ so that is a decent 5% in BTST ...

All this is pure technical analysis + a bit of market reading :) ... Those who are interested in learning technicals the way we do it can get in touch !

Stocks to watchout for next 1-8 sessions :

TVS Motors

Buy aove 75 tgt 85 stop at 71 ... Or buy at current levels stoploss 68.5 tgt 77-85 +

BAta India

Buy at current levels with a stoploss of 181 tgt 215 ... Or buy above 197 stop of 188 tgt 215-220

For subscription to our client recommendations check for details

Best Regards,

Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2532 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment