Technical Analysis of Indian Equities by Nooresh

Large Cap Investment Ideas on Dips – ICICI Bank/HPCL/BPCL/HUL

My general trading style is to take short term trades on Large caps to the tune of 10-15% generally and look for major moves in midcaps.

In my previous views i have mentioned the possibility of Sensex dipping to 18.5k-19.6k levels roughly and not going below 17.8k after which there could be a possibility of a huge move over the next 6-12 months.

So as of now the large cap stocks in radar technically are –

ICICI Bank – ( earlier initiated a buy at 1040 )

On the weekly charts stock has given an interesting breakout at 1000-1040 levels which could be retested after this 10-15% jump move from 1040 to 1160.

An interesting investment if comes down to 1050 or lower.

icicibank

HPCL :

The stock has seen the current fall after testing life highs made in 2008.

A major breakout was seen at 450 levels. A retest of similar levels could be a nice risk-reward trade to enter.

HPCL

BPCL :

Similar observations but only difference is after crossing 2008 highs the stock saw a huge move.

Retest will be interesting.

BPCL

 HINDUSTAN UNILEVER:

One of my favorite stocks – Earlier we took a nice trade from 240 to 265 and then 275 to 305.

Currently the stock has a huger resistance at 320 which is a high seen in 2000. Crossing a 10 year high would be extremely bullish signal to come which i expect over the next year and HUL becoming an aggressive bet.

Dips to 270-285 is an interesting defensive play which could give a surprise in next 12 months.

HUL

Also another stock in watch is Reliance Inds but we would need to see a cross of 1120. Will post the chart soon on it.

Hope i get time to look into the same stocks on dips but investors should bookmark this page and have a relook whenever the indices drop and remind me to cover this back 🙂

 

The above 4 and reliance inds could be my top 5 picks as of now but will review at dips to 19k.

For more detailed reports which will be published by Analyse India from November ( Plan to have a much better coverage and more detailed insights with a larger team)

Advisory Services – www.nooreshtech.co.in/services

 

Regards,

Nooresh

09819225396 ( after market hours only or message me if u need to talk to me )

noorrock2002@gmail.com

Article by Nooresh Merani

Nooresh has written 2614 articles.

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{ 10 comments… add one }
  • vivek October 18, 2010, 00:02

    hi nooresh,
    I bought 5000 shares of JMFinance @Rs. 44 on friday seeing great volumes. Can u give me targets technically. Can it go to 60.

    Reply
    • nooresh October 18, 2010, 10:43

      Hi vivek,

      Speculative built up in the stock can do 55

      Reply
  • Adit October 18, 2010, 08:25

    Hello nooreshtech now that dcb is out wit the results wat do u look at it’s short to medium term target????

    Reply
    • nooresh October 18, 2010, 10:43

      Hi Adit,

      The outlook remains positive for long run. Dont expect much in short term unless there is some announcement

      Reply
  • SRINIVASAN.G October 18, 2010, 18:20

    Hi Nooresh,
    Break out expected tomorrow.

    Regards,
    G.SRINIVASAN
    (your sincere follower)

    Reply
  • SRINIVASAN.G October 18, 2010, 18:50

    Hi Nooresh,
    Strong Breakout expected in PTC in the coming days.

    Regards,
    G.SRINIVASAN
    (your sincere follower)

    Reply
  • Rohit October 18, 2010, 20:21

    Hello Nooresh

    I have Kinetic Motor – 3000, what is your opinion in short term .

    Thanks Rohit

    Reply
  • jayanthi October 18, 2010, 21:00

    hello sir,
    thanks for Lokesh Machines. what is your latest view about Ion exchange. can i accumulate arnd 200-210? please advise.

    Reply
  • Shekhar October 25, 2010, 21:41

    Hi Nooresh,

    I have brought 1000 shares of Sterlite Ind at 183(Future Oct).
    Please let me now if i can recover my loss.

    Regards,
    shekhar

    Reply
    • nooresh October 25, 2010, 22:55

      Hi Shekhar,

      You can hold on the stock can bounce back to 178-182.

      Regards,

      Nooresh

      Reply

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