Technical Analysis of Indian Equities by Nooresh

Sensex at 19500! – Its a Correction not a Crash !

The last drop from 21100 to 19500 was very fast and above all did not expect the correction to be so quick but it is more of a healthy correction.

The medium to long term bullish view remains intact. Even though short term there could be very volatile.

The view in a nutshell.

The ideal case : Sensex finds a bottom around 19200/19500

Worst Case: Sensex finds a bottom around 18500-18800.

Long term target for the next year remains at 22500.

Strategy: The current move is a healthy correction and investors should look for slow buying at current levels with a medium to long term view. Short term concerns and volatility will remain and test patience for next 2-3 weeks.

 

For the detailed reasons and stock specific picks for short term check the presentation done at a seminar in Ahmedabad.

 

 

Regards,

Nooresh

nooreshtech@analyseindia.com

Analyse India

Article by Nooresh Merani

Nooresh has written 2581 articles.

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{ 8 comments… add one }
  • jigar November 23, 2010, 15:51

    hi,

    I want to buy uniphos so at what rate i should buy? i can hold for 3 months.
    Is this can be buy recommend frm your side or not . Pls advice me on this. If possible pls mail me charts as u post for all other stocks.

    Thanks
    Jigar

    Reply
    • nooresh November 24, 2010, 12:01

      Jigar,

      The stock seems a bounce back from current levels

      Reply
  • MILAN November 23, 2010, 23:56

    nICE pp OF AHMEDABAD= MISSING AUDIO IN THAT pP

    Reply
    • nooresh November 24, 2010, 12:00

      Hi milan,

      No video done 🙂

      Reply
  • SANGRAM November 24, 2010, 11:53

    SIR HOLDING HIND OIL EXPO @275 AND EASUN REYRL @ 141. CAN THESE STOCK BE HOLDED FOR 6 MOTH WHAT WOULD BE THE TARGETS?

    Reply
    • nooresh November 24, 2010, 12:22

      Hi Sangram,

      You can look to average both of them and hold for 320/ 160 in 6 mths

      Reply
  • Kalyan November 24, 2010, 12:54

    Sir,
    What is your view on Shree Ganesh Jewellery House Limited?

    Reply
  • Rajesh November 24, 2010, 16:34

    Hi Nooresh,

    How much the housing finance scam can impact IDFC, IDBI from here?
    I am invested in IDFC and planning to buy IDBI.
    Any level to buy IDBI and any level to average IDFC (my cost 192).

    Regards,
    Rajesh

    Reply

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