Technical view by Nooresh

A trader’s aim is to trade WELL not OFTEN ….

Sensex Technical View :
Not a consequential day as we have seen after a pullback or dip we see a couple of such sessions. Sensex 13300 and 14300-14500 on upside is the rough range only above or below which one can look to see some concrete and quick moves. Continue to be stock specific and look for over corrected fundamentally sound stocks.

Market Observations and Thoughts :

Crude :
Continues to face resistance at 110 levels and a dip to 98-102 should see support.

Gold :
905-910 zone remains a crucial resistance till it doesnt cross that a dip to 875-865 shud see support. Above 905-910 it can rush to 930-950 zone which is the cap on upside for medium term.

Stocks to watchout for :

Cement stocks like ACC , Guj Ambuja seem to be firming up on charts and traders can keep a watch if some volumes seen. Rolta bounces a bit from 255-260 hold on.

Axis Bank buy above 725 for a quick 5 % move . or sell below 680 .

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Best Regards,



Article by Nooresh Merani

Nooresh has written 2531 articles.

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