Technical view by Nooresh

14994 …. 15k is not far… Is index the right thing to look at ??

Sensex Technical View :

Sensex reaches 14994 and crosses 14930 the previous top and continues. The index does look stretched but it can always get extended to 15500/16200 also with a breather at 15k. 
Supports now at 14100/14500 zone which should be a stop for an extreme short term index trader. 
Continue to be stock specific . 
Market Observations and Thoughts :
In many of my previous view in last few months since october  i had mentioned that index may not give a clear picture. This has also become very evident from the analysis 
Although its definitely a cautious zone on the index but it should not be consideration to take short term trading bets on either side. So continue to be stock specific as still the broader is closer to 8k-10k index and even lower  so momentum/value picks may always be there.
Stocks to watchout for :
Venus Remedies partial booking advised. Educomp, Rolta rock whereas Praj,Pantaloon dint go well. Small caps Assam co ( can give 30-40 % risky though ) , Shaw Wallace ( good breakout ) , Manugraph ( hold) 
Earlier had recommended a small cap co Aurion pro solutions at 90-95 which has now moved up to 150 +  giving good returns. Similar this co from a high at 250 is available at 36-38 just above the 52 week low of 28. Fundamentally looks decent. 
Can take small exposure. Do your own research :) Classic Diamonds and Assam co also look interesting need to look more though. 
TATA Motors 
If the stock stays above 355 can give a quick move to 370-380. Buy with a stop of 336 on dips. ( disclosure recommended to clients at 344 today) 
Piramal health , GAIL charts posted below. 
Nilkamal Plastics, Glenmark Pharma  small exposure can be taken with a medium term view at 85 levels. Do ur research and be ready to add on dips. 

 MUMBAI --- JUNE 6-7 

DELHI --- JUNE 20-21 

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

Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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