Technical view by Nooresh

Boring ……. Wait for good trades continues.

Sensex Technical View :
The indecision in the indices continues to remain with lacklustre moves. The upside remains capped around the 9500-9800 mark and 8900-9200 on downside for extreme short term. So till we dont see a clear move out of the triangle or a sustaining move beyond 9650-9800 it would be better to watch then try to go for the small moves.

Stocks to watchout for :

LnT ,ONGC , Reliance did hold on to the crucial bottoms and have given small pullbacks as expected. Need to watch how much strength is still left. Bajaj Auto crosses 445 and jumps to 495 giving the 10 % move book profits if taken the trade.

Bharat Electronics

The stock has been a range of 750-800 for last few sessions. Sustaining above 800 could give a tgt of 850-880 in short term.

Punj Lloyd

Small range move in last few days 105 low and 117 odd high. Can play for a bounce back above 118 for a tgt of 130 + .


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Article by Nooresh Merani

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