Technical Analysis of Indian Equities by Nooresh

Holiday Mood on the Street !! –

Markets in Holiday Mood !!! ---


Sensex Technical View:

Currently the index seems to be in a holiday mood with no major moves on either side. We may expect the lacklustre moves to get over only if it is able to cross out of the range 19500-20300. Till then it’s a time to just relax and look for sectoral opportunities.

2-3 weeks back we advised inv estors to bu Sugar Sector. Now every person on the street is talking about Sugars !!. Renuka, Triveni, Sakthi and Rajshree our favorites have given a move of 15% already. Book half of the position and hold rest for next 1-2 months.


The next sector to watchout would be Metals – Favorites – Hindalco and Tata Steel.

Hindalco accumulate on every dip or on sustained close above 244 for a target price of 275/300. Stoploss 220. Accumulate on dips to 230.



Tata Steel accumulate on dips to 650 or a sustained close above 690 for a target price of 745/790. Stoploss 630.



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Article by Nooresh Merani

Nooresh has written 2741 articles.

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{ 3 comments… add one }
  • Rinaar December 29, 2010, 08:44

    Hi Nooresh
    sir h r u wish u happy new year in advance
    i m wait 4 last 2mths 4 fresh buying plz suggest me which stock
    can i buy ur old picks like lokesh, bengal, Well pack,

    • nooresh December 29, 2010, 13:57

      Hi Rinaar,

      Lokesh is good for long term. Bengal on dips. Wellpack was a sell !!

  • N m December 29, 2010, 10:06

    Should’nt it be celebration mood on the streets ?


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