Technical Analysis of Indian Equities by Nooresh

Sensex Lifeline ……..Still holding on …


Sensex Long term View :

As we had been discussing the Sensex Lifeline for a long time now ... We had these very analysis for our view at 8800 and 12300 and previous bottoms ...

check link and other on the right .. . http://analyseindia.blogspot.com/2007/05/newsletter-13th-june-2006-day-before.html

Current View :

Well on a monthly basis Sensex has taken a huge and quick crack from the highs and should take some time to stabilize . The current low has been close to the near term trendline from 12300 and 13900 bottoms as shown in previous charts . On the longer term basis the LIFELINE which has been respected for last five years is still not broken. Only on a 2-4 weeks close below the Lifeline would open up bearish alternatives or a long consolidation ....

Strategy for long term investors should be to wait and watch for stabilization and as always be disciplined and dont be in a hurry as an investment decision is not purely price but conviction on the business... Accumulate growth stocks with a mix of defensive ones also .... The long term growth story of India remains strong and technically i would be worried only below the lifeline ... So do ur homework and be ready with the resources to be utilized but dont hurry ...

Best Regards,

Nooresh

09819225396

http://analyseindia.blogspot.com

noorrock2002@gmail.com

Article by Nooresh Merani

Nooresh has written 2613 articles.

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