Technical Analysis of Indian Equities by Nooresh

SENSEX – 20700-19800 new range ? Cipla, Tata Chemicals, United Phosphorous, Fairfield Atlas,BASF

RangeSensex

 

Sensex Technical View:

Last few bottoms can be seen around 19800-19850 which has not been broken. On the upside 20700 seems a resistance zone. So maybe index may get ranged with stock specific moves.

Some Quick Technical Charts :

CIPLA : Can the stock give a sustained breakout above 355 and head to 400. Will need to watch for a few days

Ciplabreakout

TATA CHEMICALS:

Above 440 one can take a quick trade in the stock

 

tatachemical

UNITED PHOSPHOROUS:

Finally after a few months of consolidation the stock has given a nice breakout. Expect a move to 212/225/250 in short term.

Recommended to clients today at 200.

UnitedPhosphorous

FAIRFIELD ATLAS:

Seems an interesting techno funda pick at current levels. Investors can keep a watch for a quick 20% move.

fairfield

BASF :

A possible trading opportunity for 40 bucks.

basf

 

Some more stock talk and market buzz:

MTNL seems to be gathering a lot of punter attention. Buy the stock above 71 for a quick move.

JM Finance buzz of stake sale at 70 bucks. speculative buy at 43-41.

Midcap Banks like City Union Bank,Syndicate Bank, IDBI Bank  and some others which have not moved much may get into momentum soon it seems.

Amarjyothi Spinning Mills and Donear Inds look ripe for a quick 15% jump in textile segment.

Camson Bio and Fedders Lloyd deserve a fundamental check at current levels.

K S Oils looks interesting for a turnaround and the stock maybe headed to 60 + levels.

 

Market Buzz and Rumours - ( Dont consider it to be a buy or sell recommendation - It is just market voices and gut feel - Please do your own research ) 

Orchid might be a takeover candidate and could see a spike to 350.

Piramal Healthcase may

Guj Pipavav/Eros Media/Talwalkar from the newly listed segment may see explsosive moves in coming months. High risk traders can keep a watch.

Bedmutha after a superb run may go the thinksoft way on lower freeze.

Smart accumulation being heard in Bombay Dyeing which may turnout to be a multi-bagger.

EKC may soon come out with an announcement of a plant selloff.

Smart investors seem to be getting a liking for Mirc Electronics,Smart Link, Everest Inds, Greenply Inds,Monsanto.

Oil and Gas stocks like HPCL, BPCL,ONGC as well as Reliance Inds would be the next sector to watch for surprises.

Essar Oil may surprise with a big move in next 2-3 months with some positive developments.

High risk traders can buy RAMSARUP Inds with a target of 50% rise in next 3 months. High risk high returns

 

TECHNICAL ANALYSIS TRAINING SCHEDULE

After a break of sessions outside Mumbai we are back with a string of training programs to be conducted in your city.

MUMBAI – OCTOBER 23- 24 ( book seats at the earliest as limited batch size )

HYDERABAD – OCTOBER 30-31 ( few seats left)

MANGALORE – NOVEMBER 13-14

AHMEDABAD – NOVEMBER 20-21

For more details regarding group discounts or to organize a session in your city get in touch with our Technical Training Head – Kazim – 09821237002

Regards,

Nooresh

Article by Nooresh Merani

Nooresh has written 2556 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 32 comments… add one }
  • Ankit October 22, 2010, 07:28

    Mumbai, Ahmedabad, Manglore, Hyderabad… No Delhi ?? :((

    Reply
  • suman October 22, 2010, 11:23

    I have sent a mail to analyseindia@gmail.com requesting info on delivery gains. can u please reply…

    Reply
  • Gaurav October 22, 2010, 14:03

    Hey Nooresh,

    What’s ur view on Megh’Mani’ Organics? I’m looking at it from mid term prospective (12 to 18 months period).

    Cheerz
    Gaurav

    Reply
    • nooresh October 22, 2010, 20:05

      Hi Gaurav,

      One could look into the stock on any dips beyond 5-10% to slowly add.

      Reply
  • Nidhi Doshi October 22, 2010, 15:29

    Hi Nooresh,

    I am a regular reader of your articles. I must say they that are not informative but also serve as good piece of guiding material for TA learners like me.

    I today’s article you have mentioned that new listings like Talwalkar may see massive upward movement. Actually the stock seems to be consolidating in 223-235 range for quite some days. Can u plz explain ur view by a chart for the same.

    Thank You.

    Reply
    • nooresh October 22, 2010, 20:04

      Hi Nidhi,

      Thanks for the appreciation.

      Talwalkars is more of a gut feel and buzz 🙂 less of technicals.

      Reply
  • santosh zanvar October 23, 2010, 07:17

    hello nooresh
    i read your articles from last year but this the first time i am leaving my comment , i always go through ur research and i also do my own research , i really feel the details given by you really works out for me many stocks i have bought as per your guidance and that has earned me a lot .. and i always keep following u.
    now i have question for u ? i have bought jupiter bioscience for rs 92 only 500 shares what is your view on this stock

    Reply
  • vivek October 23, 2010, 16:18

    Hi Nooresh,
    I want to know about Bannari Spinning Mills Ltd. bought @Rs.150(2000shares)Please give me targets fundamentally& technically. Can it go to Rs.200 in short term.

    Reply
    • nooresh October 25, 2010, 23:02

      Hi Vivek,

      I dont track it.

      Reply
  • VARUN October 23, 2010, 20:08

    hi nooresh sir,
    i was searching mr. tushar sompura after a very long time, as he i find the best analyst for me till date. here i found you and u impressed me sir, congratulations for such accuracy.
    i have GSPL @ 120 and i can hold for next 3 months.
    i also have MAGNUMVENTURES @ 12.51 (its high rate) i feel i got stuck in this stock , plz suggest me what should i do to escape from loss.
    i also have 1000 share of NHPC@32 and i can hold this share for atleast 3 yrs. according to your view how much return i can assume in this stock.
    thanx in advance for ur reply.

    regards,
    varun

    Reply
    • nooresh October 25, 2010, 23:02

      Hi,
      GSPL is a long term story but short term could range between 110-140.
      Magnum i dont track.

      NHPC for 3 yrs is good

      Reply
      • VARUN November 8, 2010, 13:07

        sir,
        wat was the result of the one week trial given by you, will u provide all the calls with result and the final profit/loss amount.

        Reply
        • nooresh November 8, 2010, 13:23

          Hi Varun,

          If you have received the trial you would no the performance and then u can decide.

          Reply
  • suman October 24, 2010, 23:19

    What is the best way to communicate to you guys other than phone? Mails to analyseindia@gmail.com seems to have long wait time….

    Reply
    • nooresh October 25, 2010, 22:58

      Hi Suman.

      Add me on yahoo meraninooresh

      Reply
  • bhanu October 25, 2010, 07:39

    hi Nooresh,

    Do you still recommend hold on Rico Auto and Andrew Yule?
    bhanu

    Reply
    • nooresh October 25, 2010, 22:57

      Hi Bhanu,

      Rico Auto and Andrew Yule will test patience.

      Reply
  • PRATIK MORE October 25, 2010, 08:57

    NOORESH JI,
    CAN WE BUY RAMSARUP INDS AT CURRENT LVL.,PLS ADVICE / GUIDE ME IN THIS RGRDS.

    REGARDS
    PRATIK
    KOLKATA

    Reply
    • nooresh October 25, 2010, 22:57

      Hi,

      Well its a high risk high reward bet.

      Reply
  • kunal October 25, 2010, 11:41

    hi nooresh!!
    I have bought Fairfield Atlas @ 80.20.what would be the SL for Fairfield Atlas as its not mentioned in your technical pick?
    Thanks

    Reply
    • nooresh October 25, 2010, 22:56

      Hi Kunaal,

      Keep a stop of 75. Do fundamental reading.

      Reply
  • bhanu October 25, 2010, 13:00

    Nooresh,

    any call on Astra Micro and Kalpena ind? they are lingering at the same price as you recommended in Aug.? can these be entered?

    Reply
    • nooresh October 25, 2010, 22:56

      Hi Bhanu,

      Both companies are excellent but underperformers. Downside is limited

      Reply
  • Trader October 25, 2010, 20:09

    Nooresh,

    Please provide some diwali tips for us

    Reply
    • nooresh October 25, 2010, 22:55

      Hi trader,

      Let diwali come.

      Reply
  • Atul Dugar October 31, 2010, 02:20

    hey Nooresh,
    I am holding JM financial at 46 when there was a rumour…But the co has declined all rumours>>>so can i book my loss or wait

    Reply
    • nooresh November 1, 2010, 11:54

      Hi Atul,

      Never buy on announcement of a rumour 🙂 … Hold and add at 38-39

      Reply
  • Atul Dugar November 1, 2010, 03:03

    Should JM be bought nw????????

    Reply
    • nooresh November 1, 2010, 11:51

      Hi Atul,

      Seems a buy at current levels.

      Reply
  • Atul Dugar November 2, 2010, 16:06

    hey,
    Any reasons behind upmove of relmedia??should we buy this underperformer?

    Reply
  • VIJAY November 3, 2010, 09:53

    SIR,
    BASF TRADING ABOVE 702 CAN IT BE TAKEN AS A BREAKOUT OR IF IT CLOSES ABOVE 702 WE SHALL TAKE AS AN INDICATION OF BREAKOUT.

    Reply
    • nooresh November 3, 2010, 11:42

      Hi Vijay,

      Yes it seems a breakout stop woul;d be 675

      Reply

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