Senex Technical View :
As mentioned yesterday Sensex can get into a downward channel if sustains above 16200 for a couple of days. Ideally it should try to hit the upper side of the channel or keep declining slowly through the channel line . A downward channel implies exitting on upper end which is as of now 16900-17100 which would be a difficult zone to come up to but if it comes it should be used to generate cash and not buy ....Traders can continue to see if we break the channel with momentum to head to 15800-15300 !.Investors those who made good use of rise to 17500 + to generate good amount of cash as adviced can continue to remain on sidelines and wait for cracks or turnarounds to put money back.
Stocks to watchout for :
Have always seen in small- mid cap stocks FIIs, Institutions are alloted stakes at very high levels and logically its right too who would like to part a good stake at lower levels.... But in falls there are chances such stocks may take a major hit .... Picking up a few stocks which i noticed and would be adding it in coming days on the blog.......
The views are totally based on the bulk deals at higher levels and have still not gone through the fundamentals or business...
Starting of with two stocks:
50-60% stake by private bodies i.e FIIs, FIs, DIs, etc ...
Stock has fallen frm 550 + levels to 110.
Shree Dhoot trading i.e Videocon promoters have bought 5-10 % stake at 83 , 128 etc .
Quoting now at 111 seems cheap coz many FIIs had buy deals at 550:) ... IP tv etc story which i havent read much into but do ur own research ...
Mold Tek technologies
Winstar India i.e Marc Fabers institution according to Sebi site had picked up stake at 160 + levels. Now quoting at 70 .
Reliance cap holding part stake from 45 since last 2-3 yrs..
Seems a good play in KPOs but do ur own research ... Available near recent lows so risk is also lesser...
For accurate figures check bseindia,moneycontrol stats for above .... Readers can put in their comments on above 2 stocks or something else if u all have noticed...
Many other stocks like parekh aluminex, Marg const , Madhucon etc etc saw buying at much higher levels will look into them in coming days .
TECHNICAL ANALYSIS SESSION :
Mumbai May 31-1 June ......... No seats left people interested for next session in June mail to email@example.com or call Nooresh 09819225396