Technical Analysis of Indian Equities by Nooresh

Sensex to cross 18k in July – Time Analysis Possibility

The last time i did time analysis was in our report – Time to be Optimistic not scared which was posted on May 20.

It was mentioned that index should bottom out in the next 3 sessions. Sensex made a low on May 25 which was the 3-4 session after the post.

For the post look into the following link – SENSEX time to be optimistic not scared

 

Sensex Time Anaysis:

 

In the last 1 year there have been some time wise consistent moves.

 

1) The downmoves have roughly lasted 20-30 sessions.This can be seen in the chart posted previously on TIME ANALYSIS -

2) Similarly the upmoves have roughly lasted for 40-45 sessions.

 

So if such a pattern is to be continued then the current upmove should last till the 2-3rd week of July.

 

TimeSensex

 

SENSEX PRICE ANALYSIS:

1) The downmoves have roughly been 11-12 % which can be seen from the previous chart posted on Percentage Analysis

2) Similarly the upmoves have been in the band of 15-16%.

 

So If such a pattern is to be continued then the current upmove could possibly take the markets to 18300-18500 band till 2-3rd week of July.

 

 

Percentsensex 

 

Have been able to make this much charts only. In the short term we might be closing in on a resistance zone of 17400-17600.The strong supports are now around 16900.

 

Will be posting a detailed analysis on Sensex and Global Indices with a technical view in the weekend.

 

TECHNICAL ANALYSIS TRAINING SESSION – DELHI on JUNE 26-27

The technical analysis training program for Delhi will be in North Delhi and for a batch of 10-20 people at an attractive discount of 30%. To confirm your seats at the earliest call Kazim 09821237002.

Article by Nooresh Merani

Nooresh has written 2613 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 12 comments… add one }
  • Lloyd June 17, 2010, 20:03

    Excellent Analysis Nooresh, Keep up the good work.
    Lets all ride in this Bull rally.

    Lloyd

    Reply
    • nooresh June 19, 2010, 15:33

      Hi Lloyd,

      Yes but near term we could see a little dip 🙂 also

      Reply
  • Akshay June 17, 2010, 20:23

    Nooresh,

    Your Analysis is at its very best……Can’t Imagine it getting more better than this.

    Priviliged to have you in life.

    Regards
    Akshay

    Reply
    • nooresh June 19, 2010, 15:33

      Hi Akshay,
      I wont call it best but a sincere attempt 🙂

      Reply
  • Mihir June 17, 2010, 20:37

    Nooresh bhai..

    great work..

    lets all hope for the best and a cheerful market…

    thanks!

    Reply
    • nooresh June 19, 2010, 15:32

      Hi Mihir,

      Near term concerns remain but till next month i remain bullish

      Reply
  • Shivaji Bhandari June 17, 2010, 23:32

    Great analysis 🙂 .. Made lot of money with huge huge longs 🙂 your knowledge helping me all the time 🙂

    Reply
    • nooresh June 19, 2010, 15:32

      Hi Shivaji,

      I think now i should ask for some profits 🙂 hehe

      CHeers,
      Nooresh

      Reply
  • Atul Malik June 18, 2010, 00:54

    Nooresh ji,

    Need not 2 say that the job is being done by u is excellent….. Its obviously excellant……….

    I am just amazed how many ways are there 2 analyse stock market……………

    Time analysis, price analysis, conversion of DEMAs, Tops n Bottoms…..and a lot of things……

    Very Tough 2 analyse this market…..but u have made it easier and very clear with you logical views…..

    I salute you.

    Thanks & Regards
    Atul

    Reply
    • nooresh June 19, 2010, 15:31

      Hi Atul,

      Thanks for the kind words. Well the no of things i have used it is only to create conviction else a couple of things are enough.

      Reply
  • Ganesan June 18, 2010, 07:24

    Dear Nooresh Bhai,

    Nice analysis. Wish, only if you have 30 hrs a day…;-)

    Ganesh

    Reply
    • nooresh June 19, 2010, 15:31

      Hi Ganesan,

      Yes i would love to have a 30 hr day 😛 as these exchange guys already took 1 hour out of the schedule.

      Reply

Leave a Comment