Technical view by Nooresh

PSU banks moved…. Textiles next ??

Sensex Technical View :
CLICK HERE TO GO FOR THE RiSiNG WEDGE CHART POSTED IN AUGUST --- now many techies spotting it and shouting a correction and others for a major breakout :) .

Options are two --
1) Index goes to 16500/17200 and creates a false breakout and cracks
2) it goes to 17700-18000 with a genuine breakout but will see some correction frm 17k.

In either case its time to be cautious above 16500 and take some profits home or be ready to get out one FINE DAY and TOTALLY !!

Points to note as i had been saying to take some money home above 16500

1) Continue to trade for short term opportunities with strict DISCIPLINE.

2) Be cautious and dont get into dabba stocks/penny stocks/operator plays. Even if u do keep a stoploss.

3) Dont short till market shows reversal signs but that doesnt mean you can not hedge.

4) Take some money home.... ( Would have had a great time if you took our buying advises at 9.5k-10k and so on ..... Call the broker take some cheques enjoy EId and Diwali )

5) Rectify mistakes of the previous bull run -- Exit pennies,over valued stocks and ones which you are not convinced of.

6) Re-structure your long term portfolio. ( Remove the weeds and plant a new long term portfolio )

7) Money management --- This aint the time to be leveraged rather look to increase cash component.

Stocks to watchout for :

After some good ckt hitters before

Pioneer Embroideries looks good for few ckts.

Small cap penny idea:

J K Agri Genetics

a seed company seems to be interesting with a long term view as all the stocks in this segment have given a goodd move. People need to do more research though !!!

Textile stocks :

Bombay Rayon , Bombay Dyeing and Century textiles are seeing buying. Charts for two posted below.

Maha Seamless and Havells have seen increasing volumes with price moves. Buy on current levels with a stop of 4% from current closing tgt 15% upmoves in 2-3 weeks.

Patel Airtemp , WWIl traders can watchout for short term moves.

People interested please mail in to so we can keep you informed of further scedules in months to come.
for more of our services check ---------- or call
Nooresh 09819225396 ( only after market hours ) or ( aftr mkt only)
Best Regards,

Article by Nooresh Merani

Nooresh has written 2532 articles.

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