Sensex Technical View :
View remains the same as yest
Will 50 dema and 17400-17300 hold this time. Possibly yes ! … Buying can be done in two parts at 17300-17400 and 17000 with a stoploss of 16900 and possible target of 17700.
One can look to book profits at 17650-17700 zone if comes.Nifty would be 5300 odd.
Stocks to watchout for :
TCS seems to have started its decline below 775. The stock could even see 745-720 in short term. Avoid longs here.
FMCG stocks wait for follow on moves. ITC above 272, Colgate buy arnd 740, Dabur above 187
In the last few days had been mentioning about a good built up seen in midcap banking stocks – Dcb, Dena, Vijaya, Uco have been doing well. Watchout for Vijaya , Dhanlaxmi Bank and IDBI to give 5-8 %move in near term.
Shipping stocks are making interesting long term patterns. Watchout for GE shipping,SCI and Mercator in the next couple of months.
Dena Bank :The stock is closing on a breakout. Buy on dips with 80-81 stop.
Dhanlaxmi Bank :
The stock has given a breakout around 147. Further momentum could come on crossing above 156.
Nice breakout with volumes but is not a highly traded counter so position accordingly.Buy around 27-28.5 stoploss of 26 tgt 31-34 in short term.