Sensex View :
As was mentioned few days back 16450 and 16800 are levels to watch and sensex was unable to cross the trendline level of 16450 and has taken a quick dip which is not a good sign as every pullback has not lasted more then 4-6 sessions while the dip is much quicker. The gap left around 15350 should be the next area to watch .
Investors can continue to remain in cash and as was suggested look to book profits in fresh buys on returns of 20% or more which was seen in quite some stocks. Now again one can look to buy staggered in dips from here and be ready to book same on limited gains.
Stocks to watchout for :
Cipla looks good if it sustains above 225 -227 for a good breakout signal . Investors can look to buy on dips also.
Bottom fishing can be done in Skumars synthetics buy on dips to 85 stop of 80 for delivery.
Risky bottom investment.. Paramount communications buy around 24-25 with a stop of 22 for a bounce to 30 -33+ levels in next 3 mths. The stock was a much talked about at 60 levels to be a bagger so at 25 is a good bottom pick. Do ur own research on the fundamentals on it.
TECHNICAL ANALYSIS SESSION MUMBAI APRIL 12-13 tentatively, Interested people get in touch Nooresh 09819225396.
Have started a new blog Nooresh Video Blog which will have some interesting videos and technical analysis in vidoe format.
Check http://nooreshvideo.blogspot.com and give in ur comments . Just few test posts made on it.