Technical view by Nooresh

18300 will it stand strong !!

There is one thing what people ask me why are the markets correcting , why is it crashing , why is it running and the best of them What does market feel tomorrow. I believe the most important of all is to see your holdings and portfolio performance or the CAPITAL and current position then to look at the index !!! Coz if u r a disciplined investor and trader then the wild swings can only create opportunities for U :)

I think many people would have learnt the lesson of STOPLOSS and DISCIPLINE in the last 2-3 weeks. Preserving capital is more important then making profits is the main line one should remember. The markets are full of opportunities and losses are part of it , but a good trader and investor change each costly mistake into a bigger gain if he uses the lessons well in the future. :)

TECHNICAL ANALYSIS SESSION MUMBAI DEC 1-2 . Confirm ur seats if u r seriously interested.

The course is designed in such a way that u need no knowledge of technicals or fundamentals just brief idea of mkts. The course is meant to train and make people independent and be able to analyze the way we do it in a simple manner. All those who are really interested in learning the analysis can get in touch if they have any queries . Nooresh 09819225396. -------DOWNLOAD our old Presentation given by us . Sensex to touch 45k-77k by 2018 given in Sept 2005 at 8k levels.

Sensex technical View :

Sensex has closed below the crucial levels of 19100 and the only good sign is we have not seen a close below 18300 levels and the low is near to the 50 dema. Ideally there should be a good consolidation in the zone and on lower side 17800-18000 would be the best supports . Rise to 18900-19100 zone should see pressure . The strategy is to reduce trading and look towards selective buying in small lots and to keep a good cash component to cash in on the volatility ..

Review: BATA keep a stop of 220 on closing basis, Stone a hold , Mudra life 78 stop, Thirumalai only for long term , Mphasis depends on ur view :) ...

Stocks to watchout for :

NTPC looks a good pick for investment at 225 levels and later if dips add slowly. This is only for investors with 3-6 mths view and the stock is available at good corrected levels so can stay sideways also...

Punjab National Bank

This is one of the most under rated Banking stock fundamentally. Technically the stock has formed an excellently pattern and closing above 620-630 on weekly basis could see good 20% move in 3 months. Investors should accumulate this stock on every declines as Systematic investment.

Rain Calcining and Prajay Engineers are stocks to watchout for fresh breakouts... Will update soon if they doo...

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Article by Nooresh Merani

Nooresh has written 2532 articles.

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