Technical Analysis of Indian Equities by Nooresh

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WTF !!! …..Over Time with NO WORK !

Well thats a simple reaction for someone who is involved with markets full time...

Its like over-time of 1 hour and you bloody dont get paid for it πŸ™‚ ....
So rather then speaking lot more on such a decision which is more on the selfish interest of NSE,BSE who are more concerned of the turnover then on regulations or more important things. In the end they are also a corporate doing business and not a government body so we cant expect them to be any better πŸ™‚
I think this 1 hour would eat into my blogging time πŸ™ !!!
Sensex Technical View :
Sensex continues to remain in the range of 16700-17400 which is actually a no trade range or with low volumes. Such floppy moves may only take in stoplosses unless some one is scavenging for small trades.
Continue to wait and watch till markets decide their next move.
Chambal still hold.
Few Observations :
- > Balkrishna Inds and KCP Ltd recommended as slow long term defensive stocks are seeing increasing volumes which suggests investor interest. Buy and hold for 6 mths.
-- > Cement and Fertilizer stocks are seeing higher then normal volumes. Keep watch on Grasim , Mangalam cement and Chambal Nagarjuna in fert.
Just a lil busy so only few day trading updates !
BUY ABB above 765 stop 759 tgt 779.
Buy Rolta abobe 188 stop 185 tgt 200.
Buy TCS at 710-715 stop 707 tgt 730.

Mumbai
26th /27th December ( only 5 seats left )
2nd/3rd January.
Banglore
January 9-10th . ( Confirm at the earliest as we dont take more then 10 ppl )
Sensex the next Multibagger.... a technical view which is scheduled for 20 Dec 2009.


Best Regards,

Nooresh

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Article by Nooresh Merani

Nooresh has written 2595 articles.

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