Technical Analysis of Indian Equities by Nooresh

Relax…Strategize… and Wait for opportunities.

Sensex technical view

Sensex continues to face resistance at higher levels and is maintaining in the broad range. As have been saying before the panic should look to end in the range around 16500 and 2-4 weeks above these levels would confirm the bottom formation which could last much longer time . So fresh buying should be initiated to dips near to 17200 odd levels or wait for stability and trend reversal signal . As said in the headline relax , strategize and review what did u wrong 🙂 to improvize ahead .....

Stocks to watchout for ;

Stocks that look good for bottom fishing slowly at 5-10 % dips from here

Omaxe Ltd , Peninsula Land , nagarjuna fert

Small cap steel stocks like Sun Flag , National Steel , Uttam galwa etc look good for small exposure with 3 mths view.

Viceroy Hotels is a good bet for long term at 75-80 levels. Investors with long term view can add.

High risk short term pick :

UTV software looks good if sustains abov 950-985 zone or on declines till 850 .

PEOPLE SERIOUSLY INTERESTED IN LEARNING TECHNICAL ANALYSIS TO BECOME AN INDEPENDENT AND A DISCIPLINED INVESTOR AND TRADER CAN GET IN TOUCH .

MUMBAI SESSION FEB 9-10.

For xclusive analysis http://analyseindia.blogspot.com for details.

Best Regards,

Nooresh

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Article by Nooresh Merani

Nooresh has written 2595 articles.

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