Technical view by Nooresh

Sensex , Dow and Hang seng can they go for another 5-8% upmove ??

Sensex Technical View :

Sensex continues with another up day going up beyond 14500. Staying above such levels opens up to 14900/15500/16200 also. 
So if stays above 14500 for 2-3 sessions we could expect a momentum move to 15500 ( prev top _ in the best case scenario and a longer extension can go to 16100 zone which is 61.8% of the entire downmove. 
This could be a very difficult move for investors and they should be looking more towards booking profits and avoid long term commitments at such high levels. Traders can continue to trade with a long bias but with strict stoplosses as it might also be a distributive rally with lot many operator/ brokers pitching in for highly run up stocks. So one needs to be careful with the trading opportunities. 
DOW JONES  and HANG SENG charts posted:
Stocks to watchout for :
HCL Tech hold with stop 163, Venus Remedies,Great Offshore with medium term view. Bharti Airtel book as got our 10-15% bounce. 
Sintex Inds and Alstom projects short term breakouts . Stop of 220/455. 
NTPC raise stop 210 tgt 225/235 possible. Even PTC could reach our 95/110 tgts. 
ETC Networks and Dalmia Cements book half at 15% moves. 
Short term Weekly trades : ( keep strict stops and take exposure taking into account stoploss risk ) Not much time to post the charts :( 
Buy Bombay Dyeing 340-350 stop of 330 tgt 390/420 in short term. 
Buy Guj Alkalies at 102-104 stop of 97 tgt 114/122. 
Buy Indian Hotels around 65 stop of 61 tgt 71/77. 
Sterling bio buy above 140 stop of 135.5 tgt 155. 
Educomp could be a momentum trade if stays above 2960 for a quick move to 3150-3250. Suzlon could be headed to 110-120 levels in stable market. 

Interested people CALL - 0981922539 Nooresh for more details/queries /confirmations and more. ( aftr mkt hours ). 

ALSO SESSION PLANNED FOR DELHI IN JUNE 3rd week. Mail or call to confirm your seat

Best Regards,


Article by Nooresh Merani

Nooresh has written 2532 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment