Technical view by Nooresh

Stay with the Winners ….cut out the losers..

Sensex continues to remain sluggish in the range of 15350-15700 ...The current volatility will continue for few more days.....Be very very stock specific with strict stoplosses..

One thing which has been noticed is the stocks which have showed strength and have performed well in weak markets have continued strongly .....examples

Nagarjuna Fert ...frm 25 to 47 ...yes we have continously recommended it frm 20 and 25 for a tgt of 45-55 ... Mangalore chemicals frm 23 to 35 ... another stock in fertilizer segment which we have recommended .... seems i lll have to revise the tgts for both

JP Hydro ( 38 ) , REL ( 590 ) , NTPC ( 160-165 ) , TAta Power ( 640 and 690 ) , Torrent Power ( 70 ) ....All have been recommended at the given prices and have appreciated by more then 20% ...Still they have kept hitting new highs and we remain bullish and continue to repeat the same view for next 6 mths ext bullish ...

Banking stocks ....our fav Dena Bank has moved frm 60 to 67 . Central frm 124 to 140 ,UCO Bank frm 29 to 39 .. Vijaya and Indus starting now .....We continue to remain bullish on the mid sized banks from a medium term view ..

Birla VXL hits 20% upper freeze....gave the whole story yest .. Hold on if u have and do forget some 20% of the holding forever ..story cooking could be real big ...can touch 30 in short term ...Tourism Finance reco at 24 does 34 , Jayaswal neco 19-20 to 26 , creative eye 19 to 25 ...NEPC and nagpur power sluggish ...Many such weird small cap ideas....Not all are weird but i dont have the time to write a lot on them as i did for creative and Birla VXL ..Omaxe limited stoploss is at 317 for those who r holding with a trading view

HDIL does the 5% + move in 2 days , Suzlon hits 1358 , Nitin closes down still looks good , Aban does 1st tgt , Aata Power hold...Andhra Petro yes our fav investment does 27 frm 18 levels + 1 re dividend hold on for long term tgt 30 and 45 and book part if u want to ..

As i m not carrying the list of shortlisted stocks while writing the blog today so wont be able to write much fresh stocks for short term ...will do if i get time in the morning

One call sent to whole yahoo list today hope many people enjoyed it :

1) GNFC buy everyone enjoy ( at 140 )

2) close above 141.5 tgt 160 in short term

Did 145 + quickly hold ...Newsletter call given yest ..

Some messages sent to clients yesterday :

11-Sep-2007 10:39:14 Buy Indus Ind Bank at 56-57 stoploss 54.5 del tgt 65 +

12-Sep-2007 12:39:30 Indus Ind does 62 book 25\% of holding ..GTL infra 40 add ..sugars hold

12-Sep-2007 14:57:29 Indus Ind Bank does 65 tgt raise stop to 62.5 and keep small qty to sell tom morning ..GNFC book 25 \%of holding

Indus Ind hits 65 next day ....up 12% top gainer on A group :)

Some stock views :

Sugar stocks are seeing good buying in the bottoms and we have been recommending the stocks with a short term del view fav bajaj hind , renuka , balrampur , triveni ... as all r in fno so cud see more speculative gains

Tata Power continues to be my favourite in the power sector as it has been the only underperformer ...Once it closes above 740-743 a very sharp upmove on cards

GNFC is the only underpeformer in the fertilizer segment and has given a fresh breakout as expectd by us ...shud touch 160 in next few sessions..

Risky Day trade calls : Buy ramco systems at 1770-180 stop 174 tgt 189 -195 , Bajaj Auto at 2385-2395 stop at 2369 tgt 2430-2470 < Birla VXL for 10-15% morning trade move , Radha Madhav for intra ckt
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Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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