Technical view by Nooresh

16050-16250 resistance to watch for now…

Sensex Technical View :
Sensex as has been suggested before about the possibility of rising wedge breakdown to be possible in either case which is to stop at 16200-16800 or 17700. So lets see how it pans out.
For the short term supports are placed at 15300-15500. Continue to be stock specific as i still expect the moves from here on will be very selective.
Stocks to watchout for :
Unitech, Binani,IFCI,OCL , Power trading , Meghmani breakout in short term.Keep trailing stops. GMDC achieves target.
Uttam Steel heading for life high territory. Difficult to put an upside target.
Please keep trailing stoplosses /stoplosses for trades taken as well as book half or more on profits move of 15-20%. As will not be able to review all the stocks discussed.
Aptech , GMDC, Dalmia Cement shooted up 20% in the day after buy call ..... Cheers ... Clients have enjoyed if u would like to then check for our services.
Large Cap Stocks ;
Many large cap stocks are close to breakout levels but need to be taken off with volumes to give a quick 5-8% move.
Reliance Inds needs to sustain above 2080
BHEL above 2380
HDFC above 2550
Asian Oil Fields
All the stocks in the exploration have seen a very quick upmove. Speculative buying interest can take this stock higher by 15-20% in quick time. take your own call.
Jyoti Structure looks good for a short term on sustaining above 149.
Kilburn Engineering looks interesting with some investor interest seen. Take your own call.
K S oils seems to be catching up with the midcap view. Buy with a stop of 3% .
We have few interested people in Hyderabad/Banglore. So if people are interested mail to so we can schedule a session in your city. For more details call Nooresh 09819225396.
SENSEX the next Multibagger ....a technical view - Analyse India Seminar
Tentatively scheduled - 13 September Ahmedabad. Mail to for details/confirmation.
Best Regards,

Article by Nooresh Merani

Nooresh has written 2531 articles.

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