Technical view by Nooresh

Breakout ………as suggested … 17500 near ..

Sensex Technical View :
Sensex has broken above the 16900 mark convincingly and as was stated such a move should tgt minimum of 17500 which is almost done. Charts were also shown for the world markets which are still on the brink of a breakout. Traders would now again get cautious near 17500 and be stock specific . Investors who went for value fishing in the correction should look to reduce exposure at 17500 to 18300 zone slowly.Check the charts shown in prev post.

The blog was not updated for Monday and tuesday as was lil tired after the weekend break... But following message was sent on the free sms group All readers can join on the group for free updates.

EKC does 340 book fully ... Spice on move hold... updated with world charts and Sensex 4 days ago

Sensex has crossed 16950 now tgt 17500 so avoid shorts and stock specific longs hold. 4 days ago

stocks to watchout for :

Sugars continue to rock Bajaj Hind 218 to 251 , Renuka 111 to 135 etc also small sugars moved smartly , EKC does 344 , Unitech and Hdil move smart and quick ... Spicejet sluggish hold...

Punj lloyd if sustains 373 traders can buy with 8 rs stop tgt 388-400

Century Textiles looks good for 890-940 . use intra dips to buy. ( already recommended to clients at at 836-842 )

Tea stocks are shaping well on the charts and seems a possible turnaround in them and traders /investors can look to accumulate for a 20-30% gain in coming months.
Mcleod Russel , Harr Malayalam are the liquid ones and tend to move quicker. Levels to watch for breakout 105 and 89

High risk picks for bottom fishing : Garnet Const ,

Messages sent to clients :
22-Apr-2008 12:58:43
buy UNITECH at 277-279 for delivery tgt 310 stop 268.

25-Apr-2008 10:27:51
Buy small qty HDIL buy at 738-742 stop of 723 tgt 768 -790 short term

25-Apr-2008 14:33:54
Sensex has crossed 16950 now tgt 17500 so avoid shorts and stock specific longs hold. Buy small qty Sterlite if crosses 851 stop of 839 tgt 874.

29-Apr-2008 10:28:54
BUY CENTURY textiles small qty at 834-836 add more on sustaining 842 for tgts of 890.

29-Apr-2008 12:22:20
Unitech book at 306-310 trail to 292,HDIL trail 730,Century text trail to 834.Sensex res at 17500.

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Article by Nooresh Merani

Nooresh has written 2531 articles.

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