Technical Analysis of Indian Equities by Nooresh

9699 ….. Sensex stalls at the first hurdle..

Sensex Technical View :


The market made a top around 9699 which is close to the previous tops of  9725 and 9695 .. So this top is almost the third time in the last few months. This level becomes important for any further upsides. 

The current upmove has left two gaps at 9000-9040 and 8440-8480 whereas todays gap up move has already been filled. These are important support levels in the next few weeks. 

Stocks to watchout for :

Lot many flop trades today as none of the speculative counters stayed up IDBI , IOB and RNRL hit stops and seems a false breakout .... Seems we need to wait for a clear trend for next trades as last 1 week have got some stop hits. 


ABB 

The stock has not participated in the index pullback. The stock might give a bounce back if stays above 355-365.  Risky players can buy to 365 with a stop of 350 for a tgt of 400-410.

Siemens 

The stock seems to have given a small breakout on short term charts. Buy on dips to 230 with a stop of 220 for a pullback move to 250+. 

The above trades can be initiated provided Sensex holds above 9000-9100. 

PEOPLE INTERESTED IN JOINING THE TECHNICAL ANALYSIS SESSIONS can mail to noorrock2002@gmail.com or call 09819225396. 

Best Regards,

Nooresh 

09819225396

noorrock2002@gmail.com  , meraninooresh@yahoo.com 





Article by Nooresh Merani

Nooresh has written 2556 articles.

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