Technical Analysis of Indian Equities by Nooresh

Sensex – All set for New Year !!

SensexBoom

Sensex Technical View:
finally it seems Sensex seems to be setting up for a nice move in the next year.

Currently if it is able to cross above 20300 wont be surprised to see a sharp move in near term with expiry around the corner.

 

Ideally a move above 61% of the fall is an indication that the uptrend continues and the current move was just a healthy correction as expected.

 

Investors should again start focussing on broader market once index closes above 20300 and 6100.

 

Stocks to watchout for :

Maintain the strong view on Metal Stocks – Hindalco and Tata Steel. Will also start focusing on Sterlite Inds soon if its able to cross 190 resistance.

 

HDFC Limited has given a breakout today. Watchout for a move to 740 in coming days. Dips to 710 or lower can be bought into. Today we did a small trade in futures though.

 

hdfcbreakout

 

 

SBIbreakout

 

SBI :
This is a classical trading setup on State Bank of India. Sustained move above 2800 or below 2700 could give a nice 150 rs trade. Stoploss would be 30-40 bucks.

 

ANALYSE INDIA announces the next 2 day exhaustive Technical Analysis training program in Mumbai on

January 8th and 9th

To register yourself call Kazim 09821237002 Asif 09833666151

Also keep reading www.analyseindia.com for more updates as well as checkout our performance reports.

Regards,

Nooresh

Team Analyse India

www.analyseindia.com

Article by Nooresh Merani

Nooresh has written 2595 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 8 comments… add one }
  • Zulfikar December 30, 2010, 13:05

    Hello nooresh now that the index has managed to cross 20300 what’s ur view on jmc projects n modison metals over the next 2-3 months????

    Reply
  • rahul December 30, 2010, 15:47

    Hi Nooresh bhai,

    I am holding 500 midfield industries at 150. What is companys future..?
    Why stock is hitting LC from last month? I am in to huge losses please guide me.

    Thanks

    Reply
    • nooresh December 30, 2010, 20:10

      Hi Rahul,

      Its a dud company ! propped on broker funding. Was about to write an article on the same. You would be lucky to get out.

      Reply
  • Asawari I. January 1, 2011, 11:38

    Hello Nooreshbhai,

    Wish you, your family and entire team of Analyse India, a Very Happy & Prosperous New Year!!

    Reply
  • ANJALI January 2, 2011, 12:01

    Sir,
    What are ur best picks for 2011
    among the following which u prefer
    . TATASTEEL
    .SESA GOA
    .STERLITE
    .HINDALCO

    PLS LET ME KNOW UR VIEW

    Reply
    • nooresh January 3, 2011, 22:14

      Hi I prefer all the four !

      Reply
  • SIVA PRAKASH January 2, 2011, 12:03

    Hello Nooresh
    which sector u prefer the most in 2011
    Auto
    Metal
    Banking
    IT
    Capital goods

    Reply
    • nooresh January 3, 2011, 22:14

      Hi Siva,

      I am bullish on Metals for short term and Midcap IT is wat i am looking at.

      Reply

Leave a Comment