Technical view by Nooresh

Uncertainty !! Is the most hated word !!!

Uncertainty , lack of clarity , indecision are the most hated words in the market as the reactions to such scenarios has always been negative and that is what we have seen in the last week and will see so till the end of this month ....

The most liked word DISCIPLINE and most spoken of is hardly implemented and thats where the root of all your wrong trades , losses lies and not the market , not SEBI , nor FM ..... No one is responsible for your books then u ...

But on the foresight all the mistakes or periods of numbness ( yes its human to become indecisive and numb when u see deep losses and be excited at good profits but we end up winding up profits early never losses ) should make u realize that its more important and make u alert to not commit it again ... Because markets never get closed nor the opportunities in such a long term bullish market !!! So learn and adapt to the volatility which can only be tackled by discipline and in next few years there are whole lot of rallies left !!!!!!!!!!!!!

FOr our long term VIEW given at 8000:


SENSEX as repeated in all my earlier posts 19200 -19300 is the projection and we have seen a intermediate top in that range ... Also in all my posts i had always warned only way a correction come in this markets will be a forced one and here it is p-notes etc and thats why we need to be disciplined ... Historically all emerging markets like INDIA are always bound to see such deep hits and will see an equally faster bounce back .. Technically supports are placed at 17100 and 16500 ... Generally a major supports like 16500 would either be hit by + - 200 so either expect 16800 or 16200 in coming weeks ...Strategy to follow is buy in small lots at declines at given supports so u need not worry about timing this uncertain weakness.. Long term investors who did not pull out some money at higher levels can look to pull in more money or just stay put ...

Sector View :

POWER is good on declines but with a very long term view as main run is over , CEMENTS , CONSTRUCTION , BANKING ( long term ) and SHIPPING are the sectors look into ... IT avoidable ....

If possible will update more on stock specific levels in coming days

Best Regards,



Article by Nooresh Merani

Nooresh has written 2531 articles.

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