Technical view by Nooresh

Stock specific moves to continue till channel holds…

Sensex Technical View :
Sensex has been testing the channel for the third time in last few days . Any more breach of the channel would imply weakness of the bullish move possible but till index sustains above 16800 on closing basis we could continue to see stock specific moves. Banking stocks like SBI below 1580 , ICICI below 860 , etc are shaping badly near supports so a bounce back would be good or traders can sell below the given levels as may lead to index pull down .

IFCI trying to sustain above 64 levels should catch momentum in good sentiments. Ispat call initiated at 34.2 looks good for 37 above which could see good momentum .

Stocks to watchout for :

SEAMEC another oil drilling counter looks good technically and a beneficiary of crude oil spike too,. Investors can accumulate for 10-25% returns in next 2-3 mths or sooner also .

SBI below 1580 , Icici below 860 would turn weak so traders keep a watch .

Weird small cap idea : Bihar Sponge and Computer Point look interesting for satta players who can see 15 % loss easily !!! and wait for 20-30% gains or more with 1 mth view.

GMR Infra weak below 142 . traders can go short below it in weak index .

there are some more interesting stocks but would prefer to see it in the day ...


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Article by Nooresh Merani

Nooresh has written 2532 articles.

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