Technical view by Nooresh

Sensex reverses from 14600 ! …Momentum continues

Sensex Technical View :
Although there were a couple of dojis in last two session the index dint break below 14600 which was suggested as a support level to watch for. 
So the indecision remains as we are still not comfortably above 15k. Technically the index is pointing towards 15580/16200 levels as major resistances. Continue to stay long stock specific with a stop of 14500-14550. 
Would stick to specific stocks as momentum is more there 
Some charts posted below with view. Click to enlarge 

Stocks to watchout for :
Manugraph 2 ckts down seems bad timing but thats the risk with small caps some may go bad ! Hold for bounce. 
Maithan,Classic,Uflex, Saksoft and Alembic do look good for medium term. Do ur own research. 
UFLEX Ltd seems good accumulation. Investors can take small exposures with medium term view. 
GLENMARK maintain positive view and can tgt 275/300 levels in medium term. Ranbaxy , Glenmark, Venus Remedies , Sun Pharma Advanced, Piramal Healthcare continue to be good investment picks provided one has patience. Pharmas are defensive picks as well. 
Educomp above 3200 , Icici above 760 ,Ranbaxy above 290 could be possible momentum trades for quick day traders. 
In the month of March not many seemed to be interested in going for stock specific research and now at 15k everybody is trying to justify buying a stock 300% from the lows. 
This is how market works -- :) But in all its a disciplined investment strategy which keeps you insulated from any market misbehavior ! 
If you are investing do some research and be early into the stock and then lay back with patience and keep booking very small parts to generate cash and reduce acquisition cost. 
While trading be strict with the stoploss and better have a technical or some ticker reason rather then betting on luck coz some day a bad trade can take a lot of hard work 
A brief illustration gives a return of 40% on both investment and trading portfolio in the month of May. 
Although have not checked the report as not much time left after analysis. But yes it roughly tells us an awesome return of 30-40% in May month. 
Please go through the report and let us know if any mistakes ( Report made by Ankit one of our old readers and part of our team ) . 

 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 2531 articles.

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