Technical view by Nooresh

Consolidation and Volatility to continue !!

Just see all my previous posts ... CTRL-F then type 19200 and keep going next and u will see how many tiumes the level of 19200 was the projection on higher side and we made a top at 19198 which is very close :) . ...The current dip was in the offing and the recent news also added fuel to it ... Globally all the indices have corrected and India could not have escaped but did a lil more .... Corrections are good for the health of the market ...


Sensex continues to see supports in the given range of 17100-17300 and if clarity emerges this week should hold ...Major supports are placed at 16500-16800 range which is a good area for investors to look to accumulate blue chips .. As said the strategy should be to buy half at 17100-17300 and wait for 16500-16800 range if that doesnt come then buy on reversal in stable times.. Extreme short term resistance at 18050-18100 levels..

Stocks to watchout for in stable markets or look to buy on declines :

MTNL ....

Yes one of the stocks i have been tracking for a long time now ... It has cleared and closed above the level of 172-175 and which is a good breakout on charts ... Keep a stop below 165 on closing basis and accumulate for a target of 195-225 in 2 weeks to 3 months..


One of my favourites in the long run also mentioned earlier at 280-290 levels to accumulate for long term target of 400 + ... Buy on every decline or above 325 for momentum ...

Walchand nagar inds does 6800 given at 1600 , Mercator does 100 + said at 60 , GMDC given at 950 does 2300 + all of these look good to hold and add on declines.,... many others have rocked the streets ... Core projects is one stock which i would put in my buy and never sell category like i did for Aptech , aban , alpha geo , educomp , ifci , walchand etc etc


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Article by Nooresh Merani

Nooresh has written 2532 articles.

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