Technical view by Nooresh

All talking correction …….Just 1000 points late!!

Everybody on the street is now talking about correction , some say 16k , others 17k etc etc ... Well isnt it like guessing and then bragging if u go right and if u dont then hide :) ....But one thing to note is many of these were talking huge at 20k :) ....So now at 1000 points down are they late !!! or just changing opinions :)

My view remains the same as i said at 20k that a dip is possible and 20400 is crucial !! .. And repeated almost everyday dont stay leveraged or on margin and keep strict stoplosses and avoid overtrading and short term apprehensions... Those who took the words rightly and disciplined are obviously at a good advantage i suppose !!!

Only reason we dint say exit at 20k was throughout this period there were stocks which kept hittin 20% freezes and new highs ... And not all will correct so best way to go is stock specific.. For example Ispat inds was up 10-20% in 2 days of reco ...

Technical View:

Sensex continues the correction even on a historically positive day ( Diwali ) .. Markets have closed below the level of 19100-19200 and can expect 18400 in short term and in the extreme case the support is placed at 17800 ( 38.2% of rally frm 14k ) ... Be extremely stock specific and index should not be the criteria for ur investments !!!

Review :Walchand, ind hume take a breather after amazing run , Gmdc continues , Deccan gold mines too , Sun phamra doesnt cross the levels, ISPAT rocks does 37 above 32 levels :) < Premier Ltd does another freeze !! ISPAT looks good on every decline excellent monthly chart will post it soon !! thats why reco at 18 :)

Stocks to watchout for :

Premier Auto Electric ( 517230)

Another stock which is frm the walchand group is forming good pattern on the charts and above 39-40 looks set for a good 30% move up in short term .. Not much info on funda side though but all the group stocks have realty ...

Hanung Toys

Looks good on declines for delivery tgt of 250-280 !. Already recommended at 205 and add on declines till 194 DOWNLOAD OUR OLD PRESENTATION AND SOME INTERESTING CHARTS !!! SENSEX to touch 45k -77k by 2018 .....Presentation given at 8k by us ....

TO SUBSCRIBE to our recommendations check for the details.TECHNICAL ANALYSIS SESSION DELHI NOVEMBER 17-18 .SERIOUSLY INTERESTED PEOPLE CONTACT NOORESH 09819225396 for details

Best Regards,

Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2531 articles.

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