Technical view by Nooresh

Sluggishness continues…..Stock specific moves cont…

Sensex Technical View :
As usual good moves in the day subsiding by end of day .. Sensex is clearly showing signs of nervousness around this band of 15000-15400 . But only thing to note is the gap area 14980 i almost filled and below which we could see support around 14700 . Till markets dont give a good close above 15800 or 14700 markets could roughly remain in the range.
Traders can continue to be stock specific and be strict with stoplosses as lots of stocks r moving well.
Investors those who have acccumulated in the dips all the large caps like SBI < RCAP , BOI , LIC etc etc and were advised earlier to book arnd 50-70 % at 15000 levels should now look to exit all the lower buys at 15500-15800 and take a fresh view above 16k. Review :
RPL seems is not ready to sustain 175 traders can reduce exposure or exit and wait . Lupin is a hold. HMT ITI watchout if they sustain those levels.Sugars have taken a breather and partial booking was advised in some will now look to re enter long term outlook remains positive.

After some good moves in Sakthi Sugars( 80 to 110 ) , Andhra Sugars( 95 to 118 ) , Renuka ,Triveni .... cements bounces etc

There were client calls on Elecon Engg ( 90 to 125 ) and Easun Reyrolle ( 105 to 120 still holding ) which rocked ! ...There are good value buying opportunities in this market ...

ABG shipyard and Bharti Shipyard seems to have bottomed out. Could see a bounce of 10-15 % in coming days.

Sun Pharma Advanced has signalled a breakout and can reach 95-105 . Can buy on dips stop of 80 .

Gitanjali Gems is trying to breakout from a sideways pattern . Buy on dips to 260-265 stop of 255 tgt 290.

The blog is updated is being updated every day before market hours for a long time now ... But havent seen much comments , suggestions and feedback from the readers . People can mail their suggestions to . If u like and benefit from the stuff written here pass it around so all can benefit.


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Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2532 articles.

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