Technical view by Nooresh

Inflation , IIP nos, Dow Crude …… or look for stock specific value and gains !

Sensex Technical View :
The view remains the same as yesterday technically -- As being written pullback should face resistance at 14300-14500 zone which can be seen in coming days where one should book profits at least partially or trail. Although indices may have bounced only 1000 odd points lots of stocks have jumped up 20-40 % giving a good investment or trading gains which should be booked as part of discipline. Traders should keep strict stoplosses as Sensex reaches the 14300-14500 zone and keep trailing for holdings. Investors can wait for dips or a good close above 14700 .

Stocks to watchout for :

yet again we are nearing the resistance zones of 14300-14500 and almost all of the trading or recent investment bets have reached targets and partial holding is for long term so further trades would be triggered in the day ( i cant update the blog in the day ) so just keep a watch on stocks discussed before ... MTNL , TTML , MRPL , Ispat started of with the small bounces and seem to have some more left keep trailing stops.

GHCL if crosses 75 looks good for a quick move and lot of speculative buying on .
Spicejet if sustains 35 levels could see 10-20% move yet again speculative ! .........These are only for very high risk traders coz gains could be high also and losses too and volatile coz of rumours .

Some thoughts :
All my thoughts out on this part of the blog is based on interactions with people generally and how sentiments change. Now the latest thing is the same question What do u think inflation , IIP nos , Dow Jones , Crude , NUKE deal implications , Left ! ? etc etc . And this really puts me in a fix coz i am not an economic analyst nor do i speak to the FM ,or Manmohan Singh in the evening but i just look at charts and the market .

Stock markets are about businesses and prices which suddenly are words missing in the interactions but still our goal in the end is investment and trading which is all about stocks ! .... So at the current juncture i believe sooner or later all the above factors will get clearer and easier to gauge and definitely no body knows about how govt, nuke deal i doubt even MR Singh knows how many MPs he has. Ideally in such a bleak scenario lot of specific stock specific value buys, trading gains etc could be seen as businesses dont change drastically coz of these and much of the impact of negativity is getting absorbed .

Ideally all of us are investors /traders and we should be looking at stocks , values , prices and opportunities which are always there and if one is focussed and disciplined i believe there is much more investments and value buys and even trading gains that can be spotted in current conditions for next few weeks/months of turbulence ! although indices will jump , dip , trip , run etc .
Bottomline : Focus on what u know , what u got to do and what u understand then to wonder about jargon !


JULY 26-27

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Article by Nooresh Merani

Nooresh has written 2531 articles.

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