Technical view by Nooresh

NSG !!! boost how much can it propel…

Sensex Technical View :
Sensex has made a low of 14438 which is close to support around 14400. Technically on the upside 14750 the gap should get filled with the NSG boost. The next important resistance comes at 15100 which is recent top. The range bound move could stay for quite some time -- As said before 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 !!!.

Market Observations and thoughts :

Finally NSG waiver comes in which is a big boost for India in the future . This could propel markets in extreme short term and particular stocks affected but one thing to be noticed is the profits for the said cos will take lot of time to come on books but sentiments change :) sooner .

Stocks to wathchout for :

IDFC looks good for a bottom buy with a stop of 88 for short to medium term.

Future capital if sustains 430 could see a quick move.

Supreme Infra seems a small breakout can buy on dips to 75 with a stop of 70 for medium term .


SEPT 20-21

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Article by Nooresh Merani

Nooresh has written 2532 articles.

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