Technical Analysis of Indian Equities by Nooresh

Consolidation in Index – Pullback in Metals like Hindalco/Sesa Goa

Sensex Technical View:

Markets have staged a pullback today but the pressure would remain for the next few sessions with huge volatility. Good thing is 15900 is holding up.

Continue to be on long side with medium term view for a bounce back.

Stocks like Hindalco and Sesa Goa can see a good bounce back in short term. Buy around 140 and 310.

Fortis Hospital at 135-140 seems a good entry point to re-enter if booked at higher level.Fresh buying can also be done at current levels for long term investors

ITC can give a good move if stays above 275 or buy around dips to 260.

TECHNICAL ANALYSIS TRAINING SESSION MUMBAI on MAY 29-30

now at a huge discount

For more details download the pdf for details.

50% Dhamaka from Analyse India

Article by Nooresh Merani

Nooresh has written 2571 articles.

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{ 9 comments… add one }
  • Neenakapoor May 27, 2010, 11:31

    Hi Nooresh,

    Kudos to your analysis once again……15900 was comfortably held and the market bounced back.I hope we respect the same levels in coming days too.As informed you earlier,i have Areva future which gave a very strong bounce back today.I just wanted to solicit your advice that can i hold it for long term if you see its target around 340 plus or else should look exiting it if i get my entry level?. Kindly advise as i can hold it even if again it comes to 240 levels as i have already paid the MTM.

    Reply
    • nooresh May 27, 2010, 15:13

      Hi Neena,
      I do expect 16800/17400 on Sensex in near term. Areva hold on for 1-2 mths should see higher levels again.

      Regards,
      Nooresh

      Reply
  • Neenakapoor May 28, 2010, 02:15

    Thanks Nooresh.

    Reply
  • SIVA PRAKASH May 28, 2010, 05:18

    sir,
    Your advises are help full to investor like me. I plan to buy mid cap privt. Banks.
    DHANALAKSHMI BAK is trading at PE of 40 , KARNATAKA BANK is of PE 12 and LAKSHMI VILAS BANK is trading at PE of 11,
    So pls let me know which is the best pick among them ?

    Regards
    SIVA PRAKASH

    Reply
    • nooresh May 28, 2010, 09:48

      Siva,

      All the 3 look good. So spread it.

      Regards,
      Nooresh

      Reply
  • SATISH LOHIYA May 28, 2010, 07:23

    FANTASTIC SESA GOA & HINDALCO AND WHAT ABOUT MAHINDRA UGINE

    Reply
    • nooresh May 28, 2010, 09:49

      Hi Satish,

      Hope u made good gains on the same. Mahindra Ugine is a good long term story hold.

      regards,
      Nooresh

      Reply
  • Meetesh Kuhad May 28, 2010, 16:39

    Dear Nooresh,
    What is your call on Rohit Ferro. It reported an excellent result for teh march qtr. EPS of 4 for the qtr and yet the price fell from 60 to 42.
    Also their expansion is kicing in from this month so probably their profits will be higher for the june qtr if ferro chrome prices stay stable.

    Looking foward to your views (technical & if possible fundamental)

    Reply
    • nooresh May 31, 2010, 05:05

      Hi Meetesh,

      I will look into the stock. The current fall is because of the drop in ferro chrome and metal prices.

      Regards,

      Nooresh

      Reply

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