Technical view by Nooresh

Tata Motors, SBI



Tata Motors :


It looks like a nice cup and handle but has already moved a lot in short term. We had last initiated a buy around 190s. Right now we prefer Tata Motors DVR ( quoting at 50% discount which is exaggerated) . Disclosure: Have initiated a buy at 104.5 yesterday.





SBI : This remains a favorite for SIP with a long term view. And with all the downgrades and de-rating over the stock can now start a new journey it seems. Lets wait for a sustaining move above 1850. Its a long term bet but short term can test 2000 in momentum.




LIC Housing:

Interesting bet on dips to 240


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Happy Investing,

Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2531 articles.

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{ 2 comments… add one }
  • Smit January 17, 2012, 19:17

    Hi Nooresh Sir,

    I am 21 year old studying technical analysis by my own …and have found tht according to elliot wave theory
    Year Sensex
    1992 2000
    2000 6200
    2008 21200
    2016 50000+ ???

    Do U Agree??? And one thing is sure tht whenever sensex reaches PE of 25 it bubbles out & 60% of correction comes….rite now at 16,466 sensex PE is of 17.25.

    • nooresh January 17, 2012, 20:33

      Hi Smit,

      Its been mentioned about 8 yr old cycles since a long time. Lets see how it works.

      Sensex now u need to look at consolidated p-e


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