Technical view by Nooresh

Bottom Bounces enjoyed… stock specific with stops ….

Sensex Technical view :
Sensex is now reaching the zone of 16800-17200 which was our tgt above 15950. The momentum should continue slowly but traders should be cautious near to 17200 area and keep strict stoplosses and don't take higher commitments as part of discipline. As many traders those who are following the views should have got good gains in last few sessions so conserve it by being disciplined.

stocks to watchout for :
Dish Tv rocks does 65, WWIL 45 , Praj 175+ , Sugars zoom, Mtnl slow and steady , Others stated on the blog varun and seamec up 10% and many more ... Be disciplined book partial profits and keep stops.

Some more bottom bounce candidates

Shree Digvijay Cement , Guj Siddhee cement , Pochi raju

After the big sugar cos moving quickly ( recommended to subscribers ) the smaller sugar cos could see some action in coming weeks. Sakthi , Rajshree , Dhampur would be the pics in them .... Sugars is a sector to watchout this year could be a big surprise pack as technically things seem to be turning around lets c if fundas do the same...

Some of the messages sent to clients few sessions back :

15-Apr-2008 11:31:07 DISH TV buy small qty at 51.5-52 stop of 49 tgt 60. buy more on crossinf 53.5

15-Apr-2008 12:35:05 Sensex is trying to inch above 15950 so traders avoid shorts. Investors can buy small qty in Bajaj Hind and Balrampur chini for del and add on dips.

15-Apr-2008 12:59:54 Buy WWIL small qty at 36.50-37 stop of 35 tgt 41-43.

16-Apr-2008 10:27:21 Bajaj Hind , Balrampur Chini and sugar stocks accumulate for medium term investment. Praj Inds tgt 160 .

17-Apr-2008 10:11:11 High risk call buy Renuka Sugars at 111 stop of 108 tgt 118-120 Time period 1-2 weeks MTNL buy at 102-104 stop of 99 tgt 112-115

To subscribe to these messages check for details.

Yet another addition to yesterdays Trading question answer from a book

What are some other reasons people fail as traders?
People underestimate the time it takes to succeed as a trader. Some people come here and think they can sit with me for a week and become great traders. How many people when they went to college would've thought to walk up to the professor and say, "I know the course is for a semester, but I think a week should be enough for me to get it." Gaining proficiency is the same in trading as in any other profession—it requires experience, and experience takes time.A man who attended one of my seminars a number of years ago asked me, "How long will it take me to become a professional trader so 1 can quit my job and support my family?""Three to five years," I said."What! I'm going to do it in six months," he answered."Well, you're probably a lot smarter than I am," I said. "I didn't make any money in my first five years."It's seven years later, and he's still not profitable as a trader. You can't expect to become a doctor or an attorney overnight, and trading is no different. It is a vocation that takes time, study, and experience.Wisdom is a product of knowledge and experience. If you have moreknowledge, you can get away with less experience and vice versa. If you can get both, the learning curve is very steep.
Best Regards,

Article by Nooresh Merani

Nooresh has written 2532 articles.

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