Technical Analysis of Indian Equities by Nooresh

Nifty and Bank Nifty – Sideways before next upmove.

BanNifty

 

 

Nifty20sept

 

 

Both the charts show good triangle breakouts with big gaps which will now act as supports.

10650-10800 and 5450-5520 will be an area to buy.

Not many could catch the move so we will keep getting support on every dips. Time to get stock specific.

Continue with our bullish stance and may further look to add longs on all declines with short to medium term view.

 

Have not been able to update the site as focused on advisory calls for clients. Did you miss the move from 5220 to 5650 ? if yes do go through our advisory services on www.analyseindia.com

 

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Article by Nooresh Merani

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{ 4 comments… add one }
  • bhanu September 21, 2012, 09:31

    Dear Nooresh,

    Quick question on Hinduja/Aditya Birla Nuvo and Icici, where should i exit and book profit?

    Thanks
    Bhanu

    Reply
    • Nooresh September 21, 2012, 14:54

      If you have been so patient would suggest to hold Ab nuvo and Hinduja for some more time. Can book slowly in ICICI Bank on rise.

      Reply
  • Gandhe srinivas September 21, 2012, 22:21

    Dear Sir

    May i know what’s your view on Skumar’s

    Holding big Chunk.

    Reply
    • Nooresh September 28, 2012, 00:28

      have been bullish on the stock fundamentally but price wise no support yet. taken a speculative long at 20 for bounce to 25 with stoploss at 18. Lets c if it works out well given the fact now its out of derivatives

      Reply

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