Technical Analysis of Indian Equities by Nooresh

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Baba Mukherjee Bengali plays his trick ! —-

PranabMr Pranab Mukherjee the finance minister did come out with a budget which i am definitely not the best guy to comment on. But all I see is good tax savings for the salaried and good service tax savings for professionals like us πŸ™‚

Above all the markets welcomed the budget with a good up move.

Certain stocks to watchout for :

Amtek Auto :

The stock gave a nice breakout yesterday. Buy on current levels and on dips with a stoploss of 175 and a target price 204/225 with a medium term view.

Disclosure : Already recommended at 185/175 to clients.

Apollo Hospitals :

Already recommended before at 600-650 levels with a long term view.
A fresh triangle formation which can give a breakout above 720. Add if breaks out.
Sensex Technical View :
In the last few days i have consistently mentioned that index would not break below 15500-15800 in worst case.
On the upside 16700-17000 are target zone where one should look to book profits and reduce exposure at that zone.
Many people would have averaged on declines should look to reduce the same quantity at 17k levels as part of discipline.

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Best Regards,

Nooresh

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Article by Nooresh Merani

Nooresh has written 2613 articles.

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