Technical view by Nooresh

DOW goes DOWN as usual !!!

Sensex Technical View :
Sensex is still not able to go comfortably towards 15500 and at the same time not able to dip to 13700-14000. We did get a trigger on tuesday with a runaway move but indices need to follow up otherwise it can be termed a one off move. Volatility will continue to be high for some days. As in being presented the corrective phase from 12500 should last around 50 sessions where in the range would be 13300( worst case ) /13700( ideal ) and 15500 ( ideal was said then too ) /15800/16400( optimistic ) on upside . We are just 15-20 sessions through so technically one can expect this range to remain !!!.
On short term basis 14400 -14600 is a support zone below which it could test 14050 and 13700.

DOW Jones tech view :
After some time some view on Dow Jones.
Technically on the upside 11700-11800 has been a major barrier for the index. Till it doesnt break above the levels the trend would remain weak. On the downside after todays correction which has made 11190 as of now is very close to the 61.8 % correction of the move from 10800 to 11800 odd. Technically the zone of 11180-11220 is very crucial and below 11100 it can be assumed 10800 could be in danger. The trend remains weak but a bounce back cannot be ruled out ! from 11200.

Market Observations and thoughts :
Resurgere Minerals follows the pattern of the newlisting stocks with 20 % lower ckt hope investors did not get trapped after the warning to take care .

Crude view is updated in the post below. With the global cues

Stocks to watchout for :
With the volatile markets one needs to keep lower volumes and keep strict stoploss in trading and be patient for opportunities . For on tuesday we had lots of client trades majority of the tgts done same day and lesser ones today with smaller qty. So be disciplined in the approach conserve capital and gains made on good trades. Also do have some reasons be it technical , fundamental or other statistical observation then just trade for the sake of it !

ROLTA is the only stock which has been holding strongly in this market. Closing above 345-348 could lead to 390.
Cadilla and Castrol are the other stocks which r firming up.


SEPT 20-21

Interested people can get in touch for more information, confirmations and queries . Nooresh 09819225396 , .

Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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