Technical view by Nooresh

Bharti Airtel , BGR Energy and Vijaya Bank for short term. Nifty consolidation 5650-5950.

Had been a bit busy with some personal work so the blog postings were less. From now on we may have lot more postings and technical charts.



For few days posting levels of Nifty as people prefer to look into this index more then Sensex ( which i prefer for major analysis)

Although Nifty has corrected from the trendline it should find support in the band of 5750-5650 broadly with 5650 being the best entry point.

View remains to buy on dips for bounce back.

Momentum to be seen when the index crosses 5900-5910 range. Upside to 6050-6100 remains open till market holds above 5600.

Expecting lot of stock specific action in short term so one should start focussing on stock specific short term trades.


Stocks to Watchout for :

BGR Energy:

Breakout stock headed to 600 in short term. Disclosure: BTST call to clients at 552.


Range breakout above 305-365. Encouraging volumes implies a quick move to 400 in extreme short term.



Vijaya Bank:
Nice flag pattern. Quick traders can watch for a move above 92 to initiate a short term trade.



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Article by Nooresh Merani

Nooresh has written 2531 articles.

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{ 4 comments… add one }
  • bhanu April 20, 2011, 07:37

    hi Nooresh,

    I have 1750 shares for Mirc Electronics at 27, currently the price has come to my buy price , should hold for 30 or exit around thi price.

    • nooresh April 20, 2011, 08:42

      Hi bhanu,

      you can reduce 25-30% qty to re-enter on dips.

  • xyz April 20, 2011, 17:18

    Can we invest in company like speakasia .. Fill out surveys and double my money in 6 months .. Many of them have invested and insisting to join speakasiaonline . Your views pls sir…have 750 shares of hinduja ventures at 370-400 .. Can I get rate back ..

    • nooresh April 20, 2011, 23:25

      Hi xyz,

      speakasiaonline all i can say is the company is full of doubt but you can keep making money :) till you are entering early but the risk is with the later people whom you bring in.
      One simple thing which makes me doubt is payments are made at 50 rs a dollar thats 10% higher then exchange rate :) No company would take a 10% profit hit unless :) somethings wrong with the business or they are just too too good at it :)

      Hinduja Ventures can average on further declines to 230 to exit on bounce.


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