Technical Analysis of Indian Equities by Nooresh

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Eimco Elecon does 20%, Will this Diwali be a pleasant and positive day ?

Sensex Technical View:

There is no change in the technical view for Sensex. In simpler words it remains that index should remain range bound within 19750-20800 in near term.

Medium term outlook remains positive with upsides upto 22500 or more.

For a change after consecutive Diwali days which were not very positive trending but this time around we have a good trend coming into the current one though the next 1 year is going to be full of opportunities but on either side with big moves !

 

Stocks to watchout for :

Eimco Elecon mentioned day before did a 20% move

Siemens recently gave a false move above 860 but cracked after that . It needs to be seen

siemens

ICSA:

The stock gave a breakout at 138 levels where a buy initiated with partial booking at 148 and will next book fully at 160.

Nice example of a breakout trade though it was very quick !

icsa

Maintain an investment view on Ballarpur Inds and buy on declines.

IDFC can give a quick move to 215-220 in short term. Disclosure buy reco at 203-204

Dish Tv has given a breakout today and may head to 66-70 in next 2-3 sessions. ( Buy given at 60.5 today )

Pradip Overseas, Welspun India and Escorts look interesting bets for next couple of weeks. Follow a simple rule 1:3 risk reward.

GNFC has given a breakout today and should slowly head to 150

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.

MANGALORE – NOVEMBER 13-14

AHMEDABAD – NOVEMBER 20-21 ( confirm at the earliest )

Call Kazim 09821237002 to confirm your participation and for any queries.

Regards,

Nooresh

analyseindia@gmail.com

Article by Nooresh Merani

Nooresh has written 2556 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 18 comments… add one }
  • SIVA PRAKASH November 4, 2010, 08:55

    sir,
    Can u suggest some picks for this Diwali ? which can be multibaggers for next one year ?

    Reply
  • bhanu November 4, 2010, 14:37

    hi Nooresh,

    wish you a very happy depawali. Quick question, is Punj worth looking at and your view on COAL india for long term.

    thanks
    bhanu

    Reply
  • Nirmal Bhattacharya November 5, 2010, 02:33

    Hi Nooresh!

    IDBI, DISH TV hit Target. Great ….Pl tell me about Fairfield Atlas. Should I keep any stop loss in this case ?
    Thanks,
    Nirmal

    Reply
    • nooresh November 5, 2010, 14:57

      Hi Nirmal,

      Remain invested in Fairfiled

      Reply
  • Mahi November 5, 2010, 04:18

    Nooresh

    Whats your take on Elecon, PSL and Empee distilleries? Good companies but are not moving.. When will midcaps start moving. This rally is just for the nifty stocks??

    Reply
    • nooresh November 5, 2010, 14:56

      Hi Mahendar,

      Midcaps should start performing in next few weeks it seems.
      As of now its all Nifty

      Reply
  • Mihir November 5, 2010, 09:18

    A very happy diwali to all!!

    Wish this diwali brings lot of light, happyness and wealth for you!!

    Reply
  • madhu November 5, 2010, 09:41

    When everybody is bullish upto 6600-68oo in nifty, you say sensex range bound in near term between19750 & 20,800.
    Have you changed your view after 4th CLOSING?

    Reply
    • nooresh November 5, 2010, 14:56

      Hi Madhu,

      Well as i have said my medium term view has been 22500 which stays. Near term breakout above 20800 could take it to 21200/21600

      Reply
  • Puneet Khandelwal November 5, 2010, 18:09

    Wish you and the entire analyse india team a very happy, prosperous and safe diwali!!

    Reply
    • nooresh November 8, 2010, 13:35

      Thanks for the wishes

      Reply
  • xyza November 6, 2010, 00:19

    Wish u a very Happy Diwali and Prosperous New Year !!! Unable to browse analyseindia for Diwali picks πŸ™ … I want to buy gold for longer term . Haven’t updated on gold for a long time now .. Last time u mentioned to buy gold arnd 1170 and it did more than 1250 and now it is at 1400 … can gold go to 1650 or 25000 by next year

    Reply
  • xyza November 6, 2010, 00:20

    Wish u a very Happy Diwali and Prosperous New Year !!! Unable to browse analyseindia for Diwali picks πŸ™ … I want to buy gold for longer term . Haven’t updated on gold for a long time now .. Last time u mentioned to buy gold arnd 1170 and it did more than 1250 and now it is at 1400 … can gold go to 1650 or 25000 by next year or is it better to invest in silver as it has outperfomed gold with more strength

    Reply
    • nooresh November 8, 2010, 13:34

      Hi xywz,

      I had posted about Silver instead of gold which did 25%

      Reply
  • Dhiral Shah November 6, 2010, 14:59

    Can you give me your views on Punj LLoyd and Suzlon Energy??? Target Medium term.

    Reply
    • nooresh November 8, 2010, 13:34

      Hi Dhiral,

      M more comfortable with Punj Lloyd

      Reply
  • bhanu November 6, 2010, 21:13

    hi Nooresh,

    Please comment on Sicagen India Limited. Many be a next multibagger πŸ™‚

    thanks
    bhanu

    Reply
    • nooresh November 8, 2010, 13:34

      Hi Bhanu,

      There has to be some reason for why the stock is not performing. The last i looked into the stock at 15 bucks a year back

      Reply

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