Technical Analysis of Indian Equities by Nooresh

Sensex in a Tight Range – Selective stocks knocking life highs

Sensex Technical View:

Well the tight range of 17840-18040 on Sensex was maintained again today.

There have been 6-8 bottoms and tops exactly in this range. Will it break ? Yes it has to but when is a difficult question to answer for now.

So in either case 17400 and 18400 either of which needs to come. For now till 17800 holds one can expect the higher end to be tested.

 

Stocks to watchout for:

Auto Ancilliary stocks seem to be in focus yet again with superb results from Auto companies.

We have had selective interest in the segment for quite some time.

One of the best stocks in the segment which i have recently advised at 155 – MotherSon Sumi looks all set for 185. ( Disclosure recommended at 153-158 to clients )

Another Auto Ancillary stock was recommended to clients is up 15% but will disclose later as more steam left.

MOTHERSON SUMI --- Headed to 185

 MothersonSumi

TATA STEEL : Seems set for a move to 550-600 in short term provided it holds on to 505. Buy on dips.

 

TataSteel

 

BHARAT ELECTRIC :

 

The stock has consolidated for a long time. A move above 1850 could give good 100 rs move.

BEL

 

We would soon be conducting a seminar in Mumbai again in 1st week of August.

Punters bullish on Empee Distilleries/Maxwell Inds in near term. Trade at your own risk 🙂

Pricol and Munjal Auto look interesting in the Auto Ancillary space.

Bombay Burmah trading corporation would like to invite views on this stock.

Aarti Drugs and Aarti Inds with attractive valuations should get re-rated in next few months. Expect 20% appreciation.

 

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Article by Nooresh Merani

Nooresh has written 2581 articles.

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{ 2 comments… add one }
  • harun July 22, 2010, 09:35

    Nooresh sir pls comment on gtl infra stoploss and tgt in short term as this stock has become a big laggard and doing nothing at all . what is the implication with rcom deal in this counter. will it move only when rcom moves ?

    Reply
    • nooresh July 22, 2010, 19:02

      Hi Arun,

      With high liquidity and large market cap stocks one needs to be patient. GTL infra my view is for 3 months where it could give decent appreciation. If you are impatient sell and re-enter whenever it crosses 50 in momentum.

      Regards,

      Nooresh

      Reply

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