Technical Analysis of Indian Equities by Nooresh

Quick Technical Charts – Sterlite Technologies, Ptc India, Engineers India and Godrej Inds.

stertech

 

Sterlite Technologies – Initiated a buy at 43.5

 

engineers

 

A good stock for medium term. Expect large moves above 282.

 

 godrej inds

 

Godrej Inds – I need not say more about this stock. Technically in long term it can open up to life time highs !!

 

ptcindia

 

PTC India --- This we seems got out early. Can go to 70 in short term. Will try to get back on dips.

https://twitter.com/nooreshtech  follow me on twitter for more updates.

 

 

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Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2570 articles.

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{ 24 comments… add one }
  • Shaikh Jamil March 14, 2012, 09:00

    I am big fan of your analysis. The way you explains is nice. We do all analysis on weekly and daily charts but just want to know which time frame to use while trading, I mean to take entry and exits.
    Thanks

    Reply
    • nooresh March 14, 2012, 11:31

      Daily charts are the best for all types of analysis

      Reply
  • Sachin Advai March 14, 2012, 20:08

    Hello Nooresh
    I also like your analysis . What I like more is, you dont change your views every other day, I mean you are consistent with your views. If possible plz give me your views on the following stocks :
    Petronet LNG and Gujarat Alkalies.
    Thanks
    Sachin

    Reply
    • nooresh March 14, 2012, 23:52

      Hi Sachin,

      Yes one needs to have a firm view as changing stance on day to day moves can hamper all clients. So at times we dont have a view so we just sit back and watch the markets 🙂

      Petronet Lng is in a good trend but lacking momentum. Got stopped out a couple of times at nominal losses or profits. I would keep 155 as a stoploss and hold for 190 +

      Gujarat Alkalies i dont track it closely of late

      Reply
      • Sachin Advai March 15, 2012, 19:11

        Thank you for the info.
        Regards
        Sachin

        Reply
  • girish March 14, 2012, 20:45

    Big thank you.
    Reg Sterlite Tech, it reached 46.5. But is it a good stock to hold for higher targets or may be an investment for next couple of months as the next target is 55 as per your analysis.

    The stock has reacted to 43.5 levels today, could you pls tell if we can still buy tomorrow around 43/44 levels?

    Thanks for helpful analaysis.. learning from your graphs.

    Reply
    • nooresh March 14, 2012, 23:51

      Hi girish,

      I continue to like the stock. We booked at 46 and re-entered at 44 itself reducing the cost.
      Will continue to hold the stock with a stoploss of 40-42. So either we get 47/55 to book or hold patiently.
      The pattern is good and can catch momentum.

      Reply
    • Shaikh Jamil March 14, 2012, 23:56

      Buy sterlite technologies above 45.4 on closing basis so that you can have good risk reward ratio

      Reply
  • G.srinivas March 14, 2012, 22:12

    Sir

    I have one wipro future @441 please tell me what to do shoul i hold or sell

    Please advise

    thanks

    Reply
    • nooresh March 14, 2012, 23:49

      Hi Srinivas,

      if its a short term trade keep a stoploss at 410.

      Exit on rise to 435-440.

      Reply
  • natarajan t r March 14, 2012, 23:15

    hi nooresh,
    whats the likely tgt for Engineers India ?

    Reply
    • nooresh March 14, 2012, 23:48

      I am looking towards 310-320 and 350 + in long term.

      Reply
  • Sameer March 15, 2012, 09:46

    Hi Nooresh,
    Is 250 short term support for Godrej ind.s????

    Regards
    Sameer

    Reply
    • nooresh March 15, 2012, 11:55

      225-235 would be a stronger support.

      Reply
  • Sameer March 15, 2012, 11:20

    Hi Nooresh,
    how suzlon is at 30 for budget solar industry investment play for tommorw budget?

    Regards
    Sameer

    Reply
    • nooresh March 15, 2012, 11:54

      Ooops 🙂 suzlon is way too volatile as of now.

      Reply
  • Hemal sheth March 15, 2012, 11:24

    Want to know your views on bajaj holding ? Is it good for long term ?

    Reply
  • Hemal sheth March 15, 2012, 11:30

    Nooresh sir, i visit your website daily and am your big fan specially your analysis on godrej ind, a.b.nuvo,bombay burmah were too good. Would love a detail analysis on bajaj holdin if possible. Thanks a ton.

    Reply
    • nooresh March 15, 2012, 11:54

      Hi hemal,

      Its a good holding company – Bajaj Holdings. rather best in terms of governance. Discount as of now is not exciting.

      Reply
  • meetesh March 15, 2012, 18:25

    Dear Nooresh,

    Is Marg Ltd a good play on fundamentals ? Have you looked at it and if possible can you please give your views on it for long term holding ( 3yrs – 5yrs)

    Reply
  • girish April 3, 2012, 20:56

    Nooresh bhai,
    I added more of Sterlite Tech around 40 levels in last few days to avg my earlier buy at 44 levels.
    There are talks in market about selling of Optical fibre business and can fetch good price to the company.
    Last week Mr. Tulsian recommended with a traget of Rs65 for Sterlite Tech. Do you see fundamental call on this stock. Please do reply sir as I have cut losses and moved most of my stocks to this one.

    Thank you for your guidance Sir…

    Reply
    • nooresh April 5, 2012, 14:17

      Hi girish,

      We are also watching the stock and trading in and out.

      Fundamentally i dont have a view but market-men are pretty positive

      Reply
  • avinash April 3, 2012, 21:52

    I have been holding 1000 shares of Reliance Industries for more than 10 years. of late I am worried about its underperformance. Would you suggest a sell and switchover to Godrej Property .Thanks.

    Reply
    • nooresh April 5, 2012, 14:17

      Hi Avinash,

      One may consider shifting 15-20% of reliance into nesco,godrej properties. Just my view

      Reply

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