Technical view by Nooresh

Time to be Stock Specific. Sensex – Is it a false start or just the first attempt.


Sensex Technical view:


What seemed like a breakout a day back is now looking like a false start. But this move being the first hit on the trendline it would be too early to consider it a false start or a short term top.


Good supports are placed at 18600-18650 and 18000-18200 are fibonacci  retracements. But one thing seems to be clear index could head to 18000-18200 or 19600-19800 over the next 1 month or so.


Till the index remains in this range it would be a good time for stock specific trade.


Stocks to watchout for -

Divis Labs and Siemens looks good on dips for bounces.

Market rumours suggest good announcement on cards in JB Chemiclas. On the valuation front one can slowly buy at 135/120 zones.

Investors can look towards Asahi Songwon colors on declines to 108/95 with a long term view.






Article by Nooresh Merani

Nooresh has written 2532 articles.

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{ 4 comments… add one }
  • NILESH VIKHE July 11, 2011, 15:25

    Sir, wt is ur outlook on Gujrat seems tht stock was in consolidation mode n now is ready for breakout…for medium to long term view it can give good retuns . plz suggest ur valueble view on it

    • nooresh July 18, 2011, 12:44

      Hi Nilesh,

      Guj Gas remains a strong buy

  • RC July 12, 2011, 13:43

    Hi Nooresh,

    Could you please share technical outlook on BASF?


    • nooresh July 18, 2011, 12:44

      No view on BASF tull the rumours settle down


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