Technical view by Nooresh

Boom !! .. Can Sensex cross 16k ??

Sensex Technical View :

The near term resistance of 15550 has been surpassed in the near term which now opens to 16k levels.
There was a small gap created at 15275-15362 today which should now act as support in near term dips.
We did see midcaps/small caps firing in last few sessions as expected and action may continue in a similar manner for the next few weeks. Continue to be focussed on specific moves then on index.
Stocks review :
Ion Exchange,ITD cementation,Hikal,Bombay Burmah moving smartly book part profits.
Godawari Power has moved above 120 can now tgt 135 stop of 113. BGR energy a good 15 % move above 390. Omnitech and Helios small moves. VBC ferro also a quick 15-20% move. IFCI wait for 54 cross. Take solutions stop 39. Wockhardt tgt done,Welspun polaris moved bharti disappointed.
Rest few more stocks discussed also keep trailing stops and stoplosses should not be more then 6-7% in the short term trades. Be disciplined.


AUGUST 29-30

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Article by Nooresh Merani

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