Technical view by Nooresh

A good weekend to relax then to trade…

Sensex Technical View :
Sensex has broken the channel and closed below it so the momentum on upside should clearly slow down but the move has not been with sharp volumes so the downside also remains subdued till we dont give a close below 9000-9200 zone.
Continue with the wait and watch approach and keep watching the levels for how markets react.

Stocks to watchout for :

Balrampur Chini and renuka sugars seeing some buying interest but not able to breakout. Traders can keep a watch on these stocks.

The stock chart seems to suggest they are waiting for direction so would prefer to wait for some triggers before taking the next trades. If any further updates possible will put it on google sms channel --
For some sms updates .Go to the link and subscribe to the channel. or To subscribe using your phone, SMS 'ON AnalyseIndia' to 9870807070. Use the channel and pass it to others for quick free sms.

Market Observations and Thoughts :

The Satyam issue continues to linger on..... Although the management has been doing lot of mischief it seems the time is up for the directors to go ! and something else to happen... On the balance sheet looks exciting at 140-110 with great amount of cash on hand... Discussed in last post. Buying was advised at 140 and 120 the stock is back to 135 + and the approach is to pyramid ur position.

Now another observation clearly shows the intentions of the top management !!!
As per the insider trading disclosure the

Satyam Computer Services Ltd A S Murthy 16/12/2008 S 19000

Satyam Computer Services Ltd V Murali 16/12/2008 S 20000

The company people sold the stock a day before the announcement and in good qty of their holding !!! Maybe some SEBI action would be taken or needs to be sent to the regulatory bodies.

Anyways the personal view on the stock remains a good bet around 140-110 purely because of the cash holding and decent business and there would ideally be lot of face saving moves which could give decent returns. Also keeping in mind the risk involved with equities the risk-reward fits but one needs to check personal risk apetite and book profits on rise to insulate and conserve gains.

Yet another observation is LIC has been continously increasing stakes in PUS banks in the period of Oct to Dec . Recent disclosure in Vijaya Bank. Others too.

GMR holdings increasing stake in GMR infra for last few weeks... Many such disclosures may give good hints in coming months... Keep tracking ... Difficult to make a consolidation !!!

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Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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