Technical view by Nooresh


Time to be stock specific !

Sensex Technical View :

The index has done the minimum bounce to the zone of 14900-15100 which is 61% of the current fall from 15600 to 14k.
Now the next thing to watch is whether 15.6k is taken of and we go to 16k-16.2k or not !!!
On the down side 14500 is a good support for the short term. So next 2-3 weeks would be yet again a decider to find the next move ! Continue to be stock specific as action may soon shift to the broader market then on the index
Stocks to watchout for :
Sugars did a small day move today and may continue in days to come with lots of volatility .. Cadilla time to get out and get into another defensive like Marico or Nestle. Strides 145 now stop.
Bank Of Baroda
410 to 456 has been the rough range for the stock and seems this banking stock may move up in short term to 500 also if crosses 458. Buy above 458 stop of 446 tgt 480/510. or buy on dips stop of 428.
Welspun Guj till above 200-205 could give a move to 230 . Garware Wall rope another investment stock has been seeing large volumes of late. Long term investors can look to take small qty and wait for dips.
Rishab Dev Cables - newlisting will it see the fate like many other newlisting did move up by 30-50% ?? by speculative interest ... The market buzz says so ... Rest take ur call the stock can go anywhere
Weird observations :
Stock called Ushdev international - trades exactly 50k shares every day πŸ˜› with 1 % delivery ... Is the company listed for different reasons πŸ˜›
Alok Industries shares pledged ? What impact no idea but this is a bulk deal which tells you which company pledged shares ....
Kalindee rail a budget bet .... FII sold some time back 10 % lower but who bought ???
KZ leasing
Oct 08 price 15
March 09 price 75
June 09 price 10
What does the stock do no idea ... but moved up from 10 to 75 and back to 10 πŸ˜› .... there is an opposite bull market in some stock always ...
Zigma Software was 2 rs in April is now 22 rs πŸ˜› ... turnaround or fool around
Well will keep this session coming when there is nothing much to observe or pass time with πŸ˜›
Just happened to be back in touch with an old friend and analyst who is now totally into commodities where i never like to be ( i love my sleep at times ).
He puts up his views on
Yahoo id - chiragkb5
Would be a good short term technical view point for commodities. He does have lot of personalized services. So commodity traders can check him out ! .... Check the site or get in touch with him.
Yes dont get back to me on how commodities or chirags trade works coz i dont understand commodities πŸ˜› as such apart from a few updates for academic reasons.
Best Regards,

Article by Nooresh Merani

Nooresh has written 2531 articles.

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