Technical view by Nooresh

Breakout Done can Sensex test 18200-18500 after the current Momentum ?

Sensex Technical View:


As mentioned in my previous posts that i favor the possibility of an upside breakout but ideally it should test 17800/17200 levels.

Last week we did see a dip to 17800 but could not break further giving no chance for people to enter:). This could be an indication of an euphoric move also on upside in coming 6 months.

For now although it clearly seems a breakout there is a good possibility after the momentum now which could last this week Markets should retest the breakout zone at 18200-18500 or little lower before it starts the big journey ahead.


But overall its a stock specific market with many stocks having superbly overperformed indices. So i would stick to the process of Picking Good Stocks at Great Prices.




Stocks to watchout for:


DIC India : 

The stock has given an excellent breakout on Friday. Accumulate the stock for a target of 360-400 in extreme short term.

Disclosure: Recommended to Clients in Delivery Gains product at 315 levels - 




Book your seat at the earliest and become independent in your trading decisions. Call Kazim 09821237002 for more.


Also planning to conduct training sessions in Bangalore, Hyderabad, Gujrat – Please mail if interested

As it was a festive weekend so not many charts.


TechnoCraft Industries, SPIC Ltd , NAvin Flourine  looks excellent on charts. Fundamental study on :) - Need Reviews.

IDFC looks set for 200 in short term. Stoploss 184

Federal Bank,Dena Bank and IDBI look interesting for short term moves in Banking space

Weird Small Caps- Brushman Ind and Western India Shipyard look set for big moves possibly but high risk high returns.

Hinduja Ventures buy on every dip with a medium term target of 800. Only for investors with patience of 6 mths +

Vardhaman group looks interesting in the textile segment.

MBL Infra and IL N FS transportation could give 5-10% in coming week.

HUL a must in a long term portfolio as a defensive pick !

Article by Nooresh Merani

Nooresh has written 2532 articles.

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{ 5 comments… add one }
  • Arun September 13, 2010, 09:46


    Is Indo Rama a hold for a target of 48-50? It went even to the levels of 38 :(

    • nooresh September 13, 2010, 15:34

      Hi Arun ,

      Its a hold

  • Nirmal September 13, 2010, 17:26


    To me market looks overheated. today i have bought OCT 5700 NIFTY put at 112 re…i know this euphoria can lasts few more days..what are the odds nifty touching 5400 in next 3-4 weeks?

  • sanjay September 13, 2010, 17:59

    Hello Nooresh,

    Whats your view on Apollo hospital, CoreProj n KEI ind? Hold / Sell till what levels.


    • nooresh September 17, 2010, 12:28

      Can shift from Apollo and KEI


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