Technical view by Nooresh

Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

 

Sensex080711 thumb Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

 

NIFTY082011 thumb Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

 

As seen in the charts above both the indices have broken out above the trendline which has been a major resistance over the last so many attempts.

In the near term the current move can see an extension to higher levels of 19600/5900. Upside to those levels will take the market to overbought zones.

The current move should be utilized for trading opportunities on broader markets and one should be selective in stock picking. At the same time avoid fresh investment buying unless it is of long term nature and buying partial quantities.

Investors may look to interest cash if they bought on dips.

 

Stocks to Watchout for :

 

Yet again i would like to feature one of our favorites for the last few months – DIVIS LABS

 

Have been mentioning it as an investment pick from 670-710 levels with an initial target of 800 which was done.Now fresh entry with a target price of 900-950.

DivisLabs thumb Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

 

GlaxoSmithkline Consumer Healthcare

The stock looks headed to 2650-2700 + slowly and steadily to higher levels.

Glaxo thumb Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

 

Siemens — The stock has done nothing post the buyback offer.

Sustaining above 905 can give a move of 5-10%

Siemens thumb Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

Gulf Oil Corp – Breakout above 94 can give a 10% jump

Gulfoil thumb Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

 

NAVNEET PUBLICATIONS —

One of the best picks in the education segment and good defensive pick to buy on dips till 55-59 or in momentum above 69 with a target of 80 in medium term. Slow moving stock though.

Navneet thumb Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications

 

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Regards,

Nooresh

nooreshtech@analyseindia.com ( If somebody needs to talk to me regarding our services please mail icon smile Sensex and Nifty breaks out above the trendline. Will it head to 19600/5900. Divis, Siemens, Glaxo, Gulf Oil Corp, Navneet publications )

Article by Nooresh Merani

Nooresh has written 918 articles.

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{ 4 comments… add one }

  • supriya kumari pradhan July 8, 2011 3:03 pm, 15:03

    hello mr nooresh..
    today a regional private bank dhanlaxmi cancelled its preferential allotment and the stock plunged 6% , what dou think about the future of the stock with such negative news and how much downsides and upsides can be expected in 1 year
    thanks and regards for ur respectful views

    supriya

    Reply
    • nooresh July 11, 2011 2:47 pm, 14:47

      Hi Supriya,

      I think 90-110 is a very strong support zone for the stock.

      Reply
  • Ravi July 8, 2011 3:18 pm, 15:18

    hahaha.. too overconfident.. go review your calls.

    Reply
    • nooresh July 11, 2011 2:46 pm, 14:46

      Hi Ravi,

      The blog is for information. Its your take to decide :)

      Cheers,

      Nooresh

      Reply

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