Technical view by Nooresh

Momentum can continue… caution always keeps u in check :)

Sensex Technical View :
Sensex is continuing the momentum frm 16900 move and has scaled up to 17600 + . The current upmove should stay for some more time but as soon as we near the mark of 17900-18300 zone in coming sessions traders should start being cautious as at higher levels risk would increase. Stock specific movements would continue for much more time . Investors look to book profits around the higher zone and also look to trim their portfolio and reduce the junk and small compositions.

Stocks to watchout for :

Gtl infra moved smartly frm 49-50 to 54 + still some more to come. Indus ind call 96 to 102 intra day to be booked fully on monday ....core projects, K S oils also moving

Banking stocks could stage a pullback move ... IDBI , federal bank , Andhra bank can keep a watch ... Others also ... Wait for some good volumes or quick moves to trigger trading buys...
Reliance Inds is looking set for a fresh breakout above 2670-2700 ... Traders can go long with a stop of 2620-30 for a tgt of 2840 +.

Core Projects , K S oils continue to hold ...

GBN , Mudra Lifestyle look good for a bottom bounce of 10-15 % keep a stop of 3-4% ...

For free sms updates :

Some messages sent

30-Apr-2008 13:50:38 GTL infra buy at 49-50 with a stop of 46 tgt 55-64 for del . Sustaining above 51.5 is a breakout.

02-May-2008 13:21:19
INDUS Ind Bank buy at 95.50-96 for btst stop tgt 100-102 stop of 92.8

Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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