Technical Analysis of Indian Equities by Nooresh

Technical Views : Reliance Inds, SBI / Deccan Chronicle, Lok Housing

Sensex Technical View :
Sensex seems to be taking support around the range of 16500-16600. The view remains as before the trend remains very positive till 16200 holds up on weekly closing basis.
If Index holds up above these levels for the next 2 weeks a move to 17.5k again cannot be ruled out.
But its time to be stock specific till we dont see a clear picture in coming days.
Stock Specific Technical View :
After quite some time a technical view on large cap stocks - The leaders SBI and Reliance which i expect could lead any upmove or downmove from here.
The charts would clear out the view.

SENSEX the next MULTIBAGGER .... a technical view ....
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Multiple bottoms in the zone of 2060-2120.
Trendline support comes closer to 2095 zone. Holding these levels could give a smart bounce.

Only a break below 2060 would weaken the current trend. :

Trendline support in the zone of 990-980. Holding on to this would signify strength.
Only a move below 960 on closing basis would lead to weakness.
LOK Housing :
Another high risk high return stock for next 2-4 mths. Earlier discussed many times. For the record advised to clients at 39/32 with long term view but small exposure.
Seems a fresh breakout could happen over 46 to take it higher.

Deccan Chronicle :
Good for short term on breakout... Traders keep a watch.


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Article by Nooresh Merani

Nooresh has written 2740 articles.

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{ 2 comments… add one }
  • himanshu shah October 13, 2010, 19:08

    hello nooresh,
    whatis happening on the chart of ansal buildwell. it is looking like a possible breakout. your view.

    • nooresh October 13, 2010, 21:29


      Wait for a few days to confirm on it


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