Technical Analysis of Indian Equities by Nooresh

Sharp Pullback … Sensex holds above 13500… Can it stay above 14500 ??

Sensex Technical View :

Sensex snapped back the losses of the previous day with a quick move from the supports around 13500 gap zone. It would be interesting to see whether Sensex can cross 14500 levels which is a difficult task. So for the time being range remains 13500-14500 with a positive bias on broader markets. 
Stocks to watchout for :
Venus continue to maintain bullish stance for medium term and may possibly perform like Dishman Pharma.Hold maintained on great offshore. 
HCL Tech 
The stock has given a small breakout above 170 zones. Can buy around 169/175 with a stop of 163 tgt of 185+ in short term.
NICHOLAS PIRAMAL 
Another stock in the pharma space seeing buying interest though technically one should wait for a move beyond 280 with volumes for a tgt of 300-320 in short term.
Bharti Airtel :
Good support around the 748-755 zone can be bought closer to it for a trading bounce with a stop of 745 which if broken can go towards 715. 
SMALL CAP PENNY STOCKS -
After some smart moves in indo wind, emmsons,gontermann,celestial labs,marksans, lakshmi engg one can look to book half the position for penny pickers and shift to following with a 10-15% stop and tgt of 30% 
Glory Poly , K Sera Sera , Cerebra Intl .
Such stocks are only lion hearted traders.

WHAT DO YOU THINK ABOUT THE BLOG ???
Its been 3 years since i started the blog http://nooreshtech.blogspot.com. I hope that many of the readers might have benefitted from the analysis and views posted. 
I request all the readers ( the silent ones also ) to fill the form below in details. This would help the blog get better 🙂 and help us know more about our readers.
 
Hope to see good participation !! 

TECHNICAL ANALYSIS SESSION MUMBAI --- JUNE 6-7 

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,
Nooresh 

09819225396
noorrock2002@gmail.com 

Article by Nooresh Merani

Nooresh has written 2596 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 0 comments… add one }

Leave a Comment