Technical Analysis of Indian Equities by Nooresh

bounce backs need to sustain ! form a base .

Sensex Technical View :
Bounce back from 12800 levels but the whole 700 points move was shaved of the very next day which generally happens in weak sentiments. Sensex 12500 + - 300 points is the important support zone and investment buying in current scenarios should be done in dips only and if u get 15-25 % jump reduce exposure. Technically markets would remain this way for quite some time so no need to hurry .

Stocks to watchout for :
Of the picks picked recently bank of india was a quick mover 190 to 230 + where in partial booking was done . Praj , ifci and idfc are still holds ( although jumped 10-15 % + for trading gains too ) and would look to add on further dips.

Real estate and pvt banking stocks which bounced sharply yesterday just happened to lose it all soon . Well the cracks have been deep in the sector and will take lot of time to heal fundamentally and technically so better would be to wait and maybe even enter higher but in comfort .

At last the steel and metal stocks saw some correction after hanging on in the correction.

Tata Steel looks good for long term if one can buy in 2 parts 1st 25 % around 630-645 or lower and next 40 % 560-590 or lower .
Hindalco has solid support arnd 125 levels where one can take small exposure for long term

Traders can keep a watch on glaxo , iflex if they see some momentum .

Lots of stocks in mid cap and small cap category look great on valuations but would prefer to wait till markets stabilize as this category would move only later so finding stock specific bottoms would be difficult . Readers can contribute value picks !

HAVE POSTED OUR QUICKGAINS NEWSLETTER SENT TO CLIENTS ON THE LINK GIVEN BELOW WHERE IN ADEQUATE GUIDANCE WAS PASSED AS REQUIRED !!!

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For technical view presentations

http://www.4shared.com/file/52292941/78ee58d4/QuickGans_Technical_Analysis.html

http://www.4shared.com/file/52348854/4c2c005d/KAL_AAJ_aur_KAL.html

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Best Regards,

Nooresh

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Article by Nooresh Merani

Nooresh has written 2595 articles.

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