Technical Analysis of Indian Equities by Nooresh

Stability will take some more time………

Sensex Technical View :

Sensex is trying to sustain around higher levels but we need a time wise sustaining above the bottoms to confirm a intermediate bottom. Many of the technical indicators are showing positive divergences but will take some time to confirm a technical pullback to much higher levels then 16800. Specific stocks in the indices also look good for buying on dips. Further dips from current levels should be used for investment with a limited upside target of 15-25% in particular stocks and not expect big moves like before. On a longer term basis indices can open to big upsides only after May and we will give a review for that scenario again later on. ( can read the long term view given in previous posts )

Certain stocks yet again for investors who would be ready to accumulate on every dip with a view of 20-30 % returns in next 3-6 months. Last time we had a list of highly liquid over corrected stocks which started moving right away with 10-15 % bounces.

Very illiquid ones which can be done in very nominal quantity and investors better do their own research before entering them.

ECE Inds, Kalpana Inds , T R F and Batliboi ..........Will try update more on fundamental info .

Some known mid caps which look good on current levels and further declines . Upside potential could be 15-40% but be patient enough .

Patel Intergrated Logistics , GEI Inds co , Karuturi Networks

Probably by weekend will try to update more on the reasons to buy the stocks. As the stocks can be accumulated over a period of next 2 weeks. Investors can do their own research. Ideally we would be waiting for a technical reversal and momentum to buy into the same stocks maybe 10-15% higher from current levels.

TECHNICAL ANALYSIS SESSION MUMBAI APRIL 2nd WEEK .
INTERESTED PEOPLE CAN GET IN TOUCH NOORESH 09819225396 for details.

Best Regards,

Nooresh

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Article by Nooresh Merani

Nooresh has written 2571 articles.

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