Technical view by Nooresh

Lack of buying ……then selling….

Sensex has broken below the crucial zone of 19500 and the fall has been onee way down and the llow volumes indicate its more due to lack of buying . The next crucial level is now placed at 18400 -18500 zone. All the previous major corrections frm the time sensex hit 8k have taken support at 38.2% of rallies and the same level now is 18400 approx .

As stated in previous post that keeping cash in hand is good . 18400 zone looks best time to start deploying cash and going slow with small lots. Those who have been stuck and dint exit on stoplosses may have problems today n tomorrow as much more selling would be seen due to margin calls etc. Well all can be said for them is u have seen the real pain and lil more is left if u have the capapcity to bear can see better levels in weeks to come.

Stocks to pick in declines only with 6 mths view . Ashapura minechem , GTL ltd , GTL infra, Viceroy Hotels , Mundhra Port . The list is long but no time to right... Delayed flights makin me write in the morning ...

BEst Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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