Technical view by Nooresh

ThinkSoft stops thinking :) and starts Sinking !!

MUMBAI February 27-28

To confirm your seat call Nooresh 09819225396
Sensex Technical View :

View remains the same so will paste yest views.

There might be varying views on the current trend of the market. One section is looking at 12k-13k and other at 18k.

Technically there is nothing confirmatory to change the trend to down in the medium term. Only closings below 15500 would negate the higher top higher bottom pattern.
In the short term even if markets have to go down they should retrace at least 50% of the downmove. So 16500/16700/17000 could be seen in days to come.
Traders and Investors who bought into the dips currently should look to trim longs around those levels as some bit of resistance could come there.
Also with the upcoming event its better to be not leveraged although i dont expect major negative surprises.
A move above 17k would confirm the resumption of strong uptrend.So we need to see the reactions around 16700 zone.
Stock Specific Views :
Few days back had mentioned some market buzz which is a mix of my speculative forecasting and market rumours.
Thinksoft might be soon dumped to the retailers .... A major avoid !!
Shorts would be trapped at 4500-4700 and index would zoom to 5050 by March 2nd week as per punters !
Shree Ashtavinayak after trapping some shorts on split with a huge auction !! will now be on continous lower freeze.
ThinkSoft does 2 downfreeze of 20% !! trapping the retail investors who buy on unsolicited advice :) ..... Nifty has moved to 4900 + and might be on a way higher trapping late shorts who listen to TV ... Shree AshtaVinayak does 3 lower freeze after the auction game is over !!!
So take care !!! with what u buy !!Do your own research.
Also Tisco and Hindalco our favorites moved up sharply .... Will post a technical reasoning on them soon as to why it was a buy call... Ajanta Pharma zoomed !!
Some Market buzz :
Camlin Ltd might be a takeover candidate.
Rohit Ferro and Lloyd Steel are small cap steels which might be good turnaround stories.
Dish Tv and WWIL are back in favor with the market-men.
Pipavav Shipyard seems the accumulation is over and in next 1-2 mths expect vertical moves.
Stock Specific View :
FSL can give a bounce to 34-35 in coming days stop 30 for the view.
SBI looks a good buy on dips with a stop of 1890 tgt 2000.
Amtek Auto should follow in the steps of Amtek India. Short term traders can watchout for some momentum.
Kilitch Drugs at current levels seems a good story for long term investors.
Best Regards,
Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2532 articles.

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