Technical view by Nooresh

" Best time to repair the roof is when the sun is shining !! "

As i had stated in my todays morning post !!!

The best time to repair the roof is when the sun is shining !!!

And thats what was aptly done today ... SEBI could not have been able to come out with a draft ever on P-notes for so many mths or years... This was the best possible time and they came out with the draft and also it has been well digested .... The measure is extremely good for the longer term stability of the markets and its still a draft we may see much more mellowing in the resolution u never know.....The best part of the day for the normal investor was we saw a freeze in no time so nobody exitted in panic and later the market gave ample opportunities to buy .... For us we enjoyed them DOWNLOAD OUR OLD PRESENTATION AND SOME INTERESTING CHARTS !!! for charts u can also check lower ...


Technical View :

Sensex has done the higher side projection of 19200 and the dip was in the offing and our supports were placed at 17900 and major at 17100 which was almost done today so dont expect the dips to be near to that level again .... technically we could see some sideways consolidation but the underlying strength is clearly evident and we could actually see huge buying on a new high only till then be extremely stock specific and not be over leveraged bcoz thats the only way any correction can eat into the super gains u had with us :)

Written yesterday :
So the strategy is simple dont be leveraged and look to invest on panics near to 17900 with half ur money and wait for 17100 or wait for the dust to settle at 18k levels and then put ur money back !!

Stocks to watchout for :

Neyvyeli Lignite is all set for 150 ... I have been continously recommending GIPCL and neyvyeli as good bets in the power sector which have not yet seen their moves.... Just have a look how good neyvyeli is placed in mining which can be a major trigger ...Also watchout for SUZLON and PFC as they could also see renewed buying interest and short term 2k and 250

PTC and Birla Power also look good in the power space .... above 37 and 110 can catch fire...

Also i still maintain hold on Torrent Power , GIPCL ,NTPC , REL and other power stocks with lesser exposure if u have accumulated at our levels ...Can keep 20-25% of the initial qty as Long term ... can be next capital goods type story which never ends :)

Action Const equipments is another gr8 bet in the const equipment sector and should see a re rating and good buying in coming days can explode to life highs ....

Sunil hitech is also set for major moves in coming days can catch fire watchout for quick 15-20%

High risk Hihg returns : HINDALCO is all set for TISCO type move to new life highs in next 3 mths ... Any decline keep buying if u have the pockets to stand the dips and a big run to enjoy :)

UB engg and RAP Media are next non stop ckt hitters on cards......Good cos also so lesser risk weird small cap ideas...

I would sum up the day with my messages sent to clients .... Also sent one message to all on the messenger list might be some minutes late to buy 5600-5650 oct call option which did 42 to 124 in the day itself

BEFORE Mkt FREEZE : Morning calls :

Nooresh Merani (10-17-2007 9:47:10 AM): Do not panic in lower levels today dont be in a hurry to jump and look towards staggered buying or look to buy call options in nifty of next month series at dirt cheap prices .Supports at 17900-17200

Nooresh Merani (10-17-2007 9:56:58 AM): look to buy RPL, RCOM , REliance at lower levels in a staggered fashion for buy n forget

Nooresh Merani (10-17-2007 9:58:26 AM): bUY GE SHIPPING At 355-365

(10-17-2007 11:01:12 AM): GE Shipping can be bought at 370 or below in FUTURES also for those who have patience

(10-17-2007 11:02:18 AM): CESC is a good buy at 500 below its dir cheap

Those who picked GE Shipping in futures hold and rollover to november also if it declines . Dont sell in distress any of the positions wait for few days

(10-17-2007 12:31:47 PM): in futures hold and rollover to november also if it declines . Dont sell in distress any of the positions wait for few days

GE Shipping futures at 432 book if u want to ....


there are many more such messages of the day .........those who are interested in our services can mail to receive the mail of the messages sent in the last 3-4 days ....

FOr free sms and google group details check archives

Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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