Technical Analysis of Indian Equities by Nooresh

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Siemens — Interesting pattern. Breakout above 815-820 can give a spike to 880-900

siemens

 

Siemens – A nice flag pattern if sustains 815-820 can see a spike to 880-900.

 

Disclosure : Initiated a buy at 808 with a small stoploss of 795 πŸ™‚

 

 

Aditya Birla Nuvo has hit 950 + levels. Maintain the long term view and now entry point would shift to 880 on dips.

 

Aurobindo Pharma – The stock can give a sharp move if crosses 125.

 

Bengal and Assam Company/Bombay Burmah seem to interesting bets for long term defensive plays. Looking at some more holding companies.

 

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Article by Nooresh Merani

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{ 7 comments… add one }
  • Gulshan March 22, 2012, 17:07

    Hey Nooresh ive been a silent observer of your site. I am new to TA but doesnt it look like a descending triangle if one drew a vertical baseline around 755-760 levels. It could also slightly resemble a faaling wedge. Could you revert back on this. Have u applied the normal flag pole for targets or any other measure for targets. Thankyou !

    Reply
    • nooresh March 23, 2012, 10:14

      Hi Gulshan,

      Dont look at whether you call it the wedge or flag. Look at whether it breaks out or not.

      My mistake pre-empted the trade πŸ™‚ before the breakout πŸ™

      Reply
  • ranjan March 23, 2012, 09:04

    dabur did not work as u told

    Reply
    • nooresh March 23, 2012, 10:14

      Dabur πŸ™‚ did not move up but is trading around the same point .

      Reply
  • mayur mehta March 24, 2012, 12:01

    hi nooreshbhai
    what’s ur present view on gmdc hold it or not
    thank u

    Reply
    • nooresh March 26, 2012, 17:52

      Hi Mayur,

      A quick trading stoploss is hit but investment view remains.
      Can look to average. With the technicals weakening expect it to be in the range of 165-185 for some time.
      The breakout which we expected above 200 πŸ™ did not work out

      Reply
  • jignesh March 27, 2012, 11:29

    Dear Sir
    what is your view on
    CEREBRA INTEGRATED TECH LTD
    VIVIMED

    Regards
    Jignesh
    Bangalore

    Reply

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