Technical view by Nooresh

CASH is King , King chooses what he wants !!

Sensex Technical View :

Nothing has changed !! .. Sensex slides below 16100 touches 15700 odd near to 61.8% ( 15800 odd) and bounces back from the lows. Gap down openings after breakdowns frm channels would see the gap filling and bit more which is at 15990 for now . Only a close above 16800 or higher side 17200 would force the view to put the cash back again or keep waiting for VALUE levels or for time till trend reverses.
yet again i maintain the view Investors can continue to stay on sidelines !! Let the TIME or PRICES change to become attractive .
traders should continue to go with lower volumes !!! as volatility is higher and stoplosses r being triggered . And its not necessary to trade everyday ..
Some thoughts !!!
SAVING MONEY /CONSERVING MONEY is much more IMPORTANT then making money .....
The line given below is the quote which i like to follow whenever i invest !! or trade ..
Some people say, "I can't sell that stock because I'd be taking a loss."If the stock is below the price you paid for it, selling doesn't give you a loss; you already have it.
After the initial years of market have learnt one simple thing to make portfolio managing eaiser....... !!! NEVER state the buy price on the portfolio just calculate simple Current mkt price and every time u view the portfolio ask one question ( Is this worth it ! if not wat else is :)
Have discussed the above topic tens of times since the blog has been there !! and will continue to say so coz every time i write and u read it makes us remember simple but important things :)
Stocks to watchout for :
DIVIS LABS , RANBAXY labs are the pharma picks which can buck the Sensex trend and move up .... Traders can watchout ...
RcoM 537-540 crucial levels for short term .
So many of the stocks are close to Jan/March lows and have started looking attractive so i would suggest INVESTORS to be ready as even if mkts dont make new lows but drift lower Blucehips like SBI , RCAP , Unitech , DLF , GMR infra , ONGC etc etc will start to look very interesting for creating a FIxED deposit type portfolio for 1-2 yrs. Even if these stocks dont come to mouth watering levels i dont expect a 25 % jump in 2 weeks in them in current situation so i dont believe Investors would be left out !!!
The technical analysis session we conduct is for people who are interested in understanding the process of analyzing technicals in a simple , quick and efficient manner and would like to get independent in analyzing and deciding for themselves throughout in the future.
MUMBAI JUNE 3rd weekend tentatively ..
Interested people can call me at 919819225396 after market hours for queries and confirmations or mail to
Best Regards,
Nooresh ,

Article by Nooresh Merani

Nooresh has written 2532 articles.

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