Technical Analysis of Indian Equities by Nooresh

Sensex – Nearing a good Entry point

SensexEntry

Sensex Technical View:

After breaking out above 20300 there is a good possibility it ma test closer to that zones. The shorter term trendline seems to have broken.

Investors/Traders should look to buy Index and Quality Stocks around 20200-20300 with a stoploss of 19800-19900 on closing basis.

Stocks to watchout for :

Earlier we took a directional call on Sugars then Metals.

Now the next sector to play catch up would be Mid Cap IT stocks.

Favorites – Mphasis, Polaris  and Subex ( Already moved up and booked profits but below 80 a good entry again)

Mphasis – Disclsoure recommended at 685 and Polaris at 186 levels. May book partial profits on rise.

Reliance Inds is another stock to watchout for – 1100-1120 as a resistance level.

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

Article by Nooresh Merani

Nooresh has written 2569 articles.

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{ 6 comments… add one }
  • Venkatesh January 5, 2011, 20:33

    Sir what is u r view on KPIT ??? can it be bought at these levels???

    Reply
  • RAJ January 5, 2011, 22:48

    HELLO NOORESH,
    I HAVE RAYMOND 500 SHARES @ 375.WHAT IS THE FUTURE OF THE STOCK IN NEAR TERM 15 DAYS SHOULD I HOLD R EXIT

    Reply
  • Anmol January 6, 2011, 12:07

    For Indag Restuarent, is Rs. 8.75 a good entry point

    Reply
  • Imtiyaz January 6, 2011, 12:11

    Hi Nooresh,

    I had gone long on SBI yesterday at 2716, please let me know what to do now

    Reply
  • sanjay January 6, 2011, 15:52

    Hello Nooresh,

    What do you suggest for Shipping Corp ?
    At 135 levels, is it a low risk and stable bet(good dividend and low P/E) for medium term?

    Regards,
    Sanjay

    Reply
  • sodhan January 9, 2011, 17:05

    Polaris is beaten down by Kala Patthar as per report in economictimes under heard on the street heading.

    Reply

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