Technical Analysis of Indian Equities by Nooresh

Larsen and Toubro bounce back candidate. Sensex 18800-19000 resistance. Future Ventures 10% lower then issue price.

Sensex100511Blog

 

Sensex Technical View:

In our earlier post had mentioned that if Sensex holds above 18200 on thursday and friday then it could lead to a bounce back.

On the upside now 18800-19000 remains an important resistance.

 

Lnt

 

LNT looks a possible bounce back candidate to 1600-1650. Can buy on dips with a stoploss of 1495.

 

Future Ventures the new issue is now trading at 10-12% lower then ipo price. It will get interesting if goes to 6-7 rs.

 

Smartlink an interesting idea was discussed at 70 levels has jumped to 87 seems company may announce dividend or future plans.

 

Tata Steel can also be a bounce back candidate with triple bottoms around the zone of 580. Can give a movbe to 600-615 in short term.

 

We discussed a lot of technical topics as well as the possibilities on Sensex , Commodities and stock specific ideas in the webinar on Sunday.

Those who could not attend can download from the below link

http://www.4shared.com/file/aWFluNDS/634404205234271250.html

Regards,

Nooresh

Article by Nooresh Merani

Nooresh has written 2582 articles.

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{ 10 comments… add one }
  • surjeet May 10, 2011, 12:29

    Hi Nooresh,
    i have down loaded the .exe file of webnair but don’t know how to open it.pls help me out.

    regards
    surjeet

    Reply
  • Hari May 10, 2011, 18:32

    Bank of Rajasthan & CESC chart sense please ?

    Reply
  • Sandew May 10, 2011, 21:08

    Hi,
    Nifty Chart
    I cannot fathom the kind of resistance trendline drawn here, it joins nothing to nothing, but just hooked onto a protruding whick of a doji.
    Let me admit this is first time ever I am missing the chart drawn by you.
    Maybe a resistance line joining black tops of feb 18 and Mar 4 and extended rightwards ( these dates are approx.)

    Reply
    • nooresh May 11, 2011, 12:48

      Hi Sandew,

      Its just a line of the previous bottom being around 5690 which will now resist any upmoves 🙂

      Reply
  • bhanu May 11, 2011, 08:19

    Dear Nooresh,

    can i average Hinduja Ventures and Rico auto, also prakash Industries once up on a time reco.

    thanks
    bhanu

    Reply
    • nooresh May 11, 2011, 12:47

      Hi bhanu,

      I would prefer to put fresh money in performing stocks.

      Reply
      • bhanu May 11, 2011, 16:33

        hi Nooresh,

        can you suggest a few?

        thanks
        bhanu

        Reply
  • Sanjay May 11, 2011, 11:34

    Nooresh,

    Wats ur take on sugar stocks like Sakthi sugar and sector overall and please give your view on FSL.

    Regards,
    Sanjay

    Reply
    • nooresh May 11, 2011, 12:46

      Hi Sanjay,

      Sugar Stocks have value but the cycle which we expected to turn is not happening so we took the exit quite some time back from the sector.

      FSL it may depend on some announcement otherwise no trigger

      Reply
  • harsh May 15, 2011, 11:52

    sir…..what r ur views on ranbaxy?…….i m short @460 ….should i wait till expiry….please help…

    reg
    harsh

    Reply

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