Bottom Spotting ! First 15300 and then closer to 16300 !!!
Technically we have been able to spot the best moves on the index in the last few weeks ( Go through the archives for last 3 yrs for the accuracy )
When everybody was shouting for 14k or lower levels some weeks back we came out with a 20 + min video explaining why 15300-15500 was a strong support and should hold up. ( made clients buy Nifty futures which gave 200-250 points return in quick time )
Some readers might not have been able to listen to the whole video so just posting the charts in the PDF format... Though i would still suggest listening to my hoarse voice 😛
Later in the break i could not stop myself but mention that a move to 16300/16600 is a good probability and should be a corrective move. LINK HERE
Sensex Technical View :
Continue to maintain the bullish bias for short to medium term. Sensex can target 18.5k over the next 1-2 months. Stoploss earlier for the view was 15300. Now the trend changing point is 15950/16300. If such a move comes to 17.7k + investors should again look towards cash increasing strategy which we have been doing ever since 12k to optimize returns !!
Some of the readers came out with a conclusion that if Nooresh is taking a break then index could come down a bit. Well the break was not for such reasons but yes there was not much to write on the index as was expecting a range bound move. Also the focus was on Midcap research for clients and we had some solid trades in the period !!
Some of the midcaps mentioned on the blog like Geometric, Kalyani Steels,Modern India , Paramount Communications etc gave good moves.
TECHNICAL ANALYSIS SESSION
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