Technical Analysis of Indian Equities by Nooresh

IDBI,Cipla and Tata Coffee

IDBI :

The stock has been a major underperformer in the banking segment. So although the stock looks good technically but stock has not seen following up buying before.

 

idbi

 

Cipla :

The stock has seen a big crack today with volumes which is not a good indication. Sustained closing below 300 could take the stock to sub 250 levels also

 

cipla

 

TATA COFFEE:

A nice cup and handle plus a channel indicates the stock could give a good 50 rs upmove if able to cross 485-490 with volumes. Buy on crossover with a stoploss of 470.

TataCoffee

 

SENSEX TECHNICAL VIEW:

Nothing has changed in the index so the view remains same. Keep yourself hedged or higher cash. Stoploss for short term longs is 17800. Stoploss for shorts 18600 on closing basis.

 

For Nifty all we have been doing is selling at 5450-5470 covering it at 5370-5400 with lots of swing the average selling level is now way higher. So this gives us a good hedge to stock specific longs.

 

Continue to keep strict stoplosses to conserve the gains made in last few weeks. Also avoid Leverage !!

 

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Cheers,

 

Nooresh

Article by Nooresh Merani

Nooresh has written 2555 articles.

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{ 9 comments… add one }
  • SIVA PRAKASH August 17, 2010, 08:35

    Sir,
    What is ur view on sesagoa now?

    Reply
    • nooresh August 18, 2010, 02:31

      Can expect 300 on lower side in worst case … Though i avoid news based stuff

      Reply
  • Mihir August 17, 2010, 08:50

    Hello Nooresh bhai,

    Your one of the reco kalpena industries, it is coming down everyday
    cna we add some more, hold or sell

    please advice

    Reply
    • nooresh August 18, 2010, 02:31

      Add some more i am convinced about the long term outlook of the company

      Reply
  • Kunal August 17, 2010, 10:58

    Please comment on Unitech for short term?

    Reply
    • nooresh August 18, 2010, 02:30

      No view on it. M bad at Real Estate Stocks

      Reply
  • Mayur Patel August 17, 2010, 19:04

    Dear Nooreshbhai

    I like to know if you are giving Share Terminal. If yes please give me details…
    Regards
    Mayur

    Reply
    • nooresh August 18, 2010, 02:30

      Hi Mayur,

      We do. You can contact me at 09819225396 or my team members Kazim 09821237002

      Reply
  • CA. Anil Agarwal August 21, 2010, 18:33

    Nooresh Bhai,

    ye VFM kya small investor ke liye bhi hai? Need to know more about it.

    Reply

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