Technical Analysis of Indian Equities by Nooresh

Century Textiles, CESC …. Continue with the trend..


Sensex technical View :

The move seems over done but there are no indications of a turnaround signal so continue with the trend.
Sensex 17700 is the next level to watchout for on upside and down side 16600 remains the trend changer.
Stocks to watchout for :
BHEL did 2549 and then stopped out, All Bank hold. Nilkamal good move from 155 to 170 + . KKCL rocked with a 20% !!
Bombay Dyeing trail stop to 405 and hold. Century also looks good chart posted above.
Ramsarup , Energy Dev and Sundaram Multi pap for high risk people. Sugars continue to look good.
Neyvyeli on closing above 146 , Guj Nre above 70 would be interesting bets for next 2-3 weeks.
Anant Raj Inds is seeing lots of institutional interest. One of the only good balance sheets in the sector. Watchout on declines to take some exposure.
Maharashtra Scooters another intrinsic value pick with investment value being huge seems to have finally seen buying interest. Pure value at current levels can appreciate 30% in next few months. Downside limit.
Vijaya Bank above 52.5 closing can touch 60.
Buy Hind Zinc around 860 stop 840 tgt 900 -920 in short term.

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Article by Nooresh Merani

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