Technical view by Nooresh

Sometimes its better to watch more trade less.

Sensex Technical View :

Yet another day in the range of 11900-12300 or Nifty 3600-3720. So for a short term perspective it becomes clear that a move beyond the range on either side would be a small trade. For short term longs 3600 on sustaining basis becomes the stoploss. 
Stocks to watchout for :
Nagarjuna,Elec Steel Casting and Harrison continue to look good trail the stops closer to breakout levels.
Dr Reddy stays sideways, Cairn opens gap up with crude move and continues. 
Dishman Pharma yet again seems to have bottomed out buy arnd 110-112 with a stop of 102 on closing basis with a medium term view tgt 125/140 possible. 
Intra Day picks: 
UCO Bank buy above 32 stop of 30.6 tgt 34-36. 
Tata Motors above 279 stop of 272 tgt 295.
Trade if market holds above 3590-3610 Nifty . 
Sell Bank of Baroda below 313 stop of 321 tgt 296 or lower.
Sell Grasim below 1745 stop of 1775 tgt 1690. 
Trade if Nifty breaks 3590. 
Speculative short term pick:
Aurion Pro Solutions - The stock is seeing huge volumes closer to the lows. Seems something is cooking. So a high risk high return pick.
Investment Pick:
BLUE Star ( cmp 180 ) 
Investors can look to accumulate the stock in a pyramid manner at 178/160/142 as levels to buy with a long term view. Looks interesting but do your own research before taking a position.
A small column posted in the latest edition of - Money Today magazine. 
Readers can pick up a copy from any news stand or check the e-magazine 
People interested for a course in DELHI do mail to !!!We may have a session in June 
Best Regards,
Nooresh 09819225396 

Article by Nooresh Merani

Nooresh has written 2532 articles.

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