Technical Analysis of Indian Equities by Nooresh

Broader Market Rallying ….. Keep trailing and be disciplined

Sensex Technical View :

Has anything changed on the index not yet ... So will stick to stock specific view.
Stocks to watchout for :
Possible day trading picks
Buy Century Textiles above 424 stop of 415 tgt 445. 
Buy Orchid Chemicals around 127 stop of 122 tgt 135/142
Buy GE Shipping above 275 stop of 267 tgt 290
Sugar Stocks could see 3-7 % intra moves. 
INVESTMENT PICK WITH MEDIUM TERM ViEW ( can Pyramid )  :
VENUS REMEDIES  ( 190 ) 
Can be termed as a technical + funda pick.  The stock has seen good volumes being traded in last few sessions. Fundamentally the stock is quoting at p/e of less then 4 , book value of 160 ( frm moneycontrol) the stock can see a re-rating in coming months. Technically staying above 200-205 gives a target of 240/275/320 in coming few months. 
Buy initial qty at 190 zone and add on dips to 170 or above 200-205. Do your own research ! before taking exposure as the stock can stay sideways for quite some time. 

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Nooresh 
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Article by Nooresh Merani

Nooresh has written 2595 articles.

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