Technical view by Nooresh

Range bound 13500-15000 . Stock specific in the range …

Sensex Technical View :
Yet another nothing day on the indices .

Sensex has gaps left at 14484-14608 while one of the gaps was yesterday . The above gap is a level to watch. As we have seen in previous post till Sensex sustains 13500 and doesnt break 15100 we can expect markets to stay in the narrow range and swing to different cues. Till we dont see a move out of this range traders will need to be cautious and dont go leveraged as it would be a small range in which markets could swing and would be better to take stock specific view then index view .

Stocks to watchout for :

Sugars steady , MTNL flops ibulls stable , Kolte patil ckt KRBL down, ACC not able to breakout ,Tips inds moves above 53 does 60 ...
the volatility in recent days has lead to false moves in some stocks and trading positions being stopped and thats the reason one has to reduce the general qty one takes till we dont see a clear move. ACC moved up but retraced back , Triveni jumps but back again . Volatile markets implies to reduce exposures till a move out from range happens for traders.

3 charts have beeen put down in the post below Lupin , titan and Aban

DLF could give a trading bounce if sustains above 520 . GMR infra is also looking promising buy on dips arnd 90 stop of 87 tgt 100.

Fundamental pick -- for slow and steady returns.

First Leasing ( 500145 )
The stock is a good defensive bet in current market conditions . Cmp 44 has a downside risk of 10 % but in better day could give a good upside. Book value of 65 + consistent dividend yield of 5 % + . Investors can lock in some amount of money for stability in the portfolio. Can tgt 52-60 levels conservatively over next 6-12 mths.


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Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2531 articles.

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