Technical view by Nooresh

Sensex/Nifty Pullback from Oversold Levels. Ideal upside 5050-5100. Max 5180-5230 look to book part of holdings.



Nifty has yet again taken support on the sloping trendline on the downside shown with circles. Generally it has seen good amount of pullbacks after a test of this line.

We may not expect the pullback to target 5050-5100 levels and a maximum upside in extreme scenario to 5180-5230. One should look to reduce part of holdings bought at lower levels.

The next dip after testing the above resistance levels will give a clarity of a short to medium term bottom in place.


GMDC has given a breakout above 174. Buy on dips with a target price of 190-200.


Bajaj Auto updated around 1515 levels on the website is yet another breakout for a target price of 1600.


Jain Irrigation looks good for the day with a target price of 185-188 stoploss of 172. ( reco btst )


Rallis India is a breakout which could head to 185-200 in short term.





Article by Nooresh Merani

Nooresh has written 2531 articles.

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