Technical view by Nooresh

Can Stocks also bounce like Sensex ???

We have seen good resilience in the indices mainly Sensex /Nifty with large caps dominating..... It needs to be seen whether we see the same on specific stocks.
So go through the stocks mentioned but trade strictly with stops. Also dont be over leveraged and do adequate risk management. Please note the view given below is a personal technical view which may or may be naive and short-sighted!! but the decision to trade lies with U :)

Stocks to watchout for :
Reliance Capital
The stock is on verge of a fresh breakout above 950-955. Buy on sustained move above 955 stop of 934 tgt 990 in short term. Risky stock in volatility so take care.
Bombay Dyeing - traders can buy on declines to 410 stop 400 tgt 435.
Mah Seamless
Medium term investors can keep a watch if closes abov 340. The stock can tgt 400 levels on sustaining above 340.Only for patient investors.
Nilkamal Plastics and Kewal Kiran on verge of bullish breakouts but volume support needed. traders keep a watch if trades above 155 and 215.
Tata Sponge / Sharyans / Saraswati Industrial Syndicate look interesting with investment view of 3-6 mths. Buy on declines slowly. Good value stocks.
NEW ANNOUNCEMENT for day traders. :

For hardcore day traders add the id - for some momentum calls as trial. But yes please dont reply !!! just look into the messages and do your risk managment. Will soon put up some views on day trading discipline in the week. !! For now observe or take calculated risks...

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Best Regards,

Article by Nooresh Merani

Nooresh has written 2531 articles.

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