Technical view by Nooresh

NIFTY – Time to watchout for positive divergences.

Every time Nifty has touched oversold levels since 4500 it has made similar lows or in the range + or – 100 points.

So in that case it should be 5550-5750 to be watched out for.




Mind you this can happen over 3-6 weeks.


Investors should now be looking towards strong accumulation in next 1-2 months with a view to only buy on dips.


This might be an opportunity similar to previous times and a reversal now will be above 5970. We will keep a watch.


Stocks to buy – ONGC at 280-300 , BPCL at 260-380 , CIpla at 360-380 and Reliance / MNM in large caps.



Best Regards,


Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2532 articles.

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{ 8 comments… add one }
  • ZAR March 20, 2013, 16:01

    Given the current market scenario what is your take on infra stocks like JMC. I have invested in it in 2010@ 200 average price and its a large quantity fairly larger than the current daily TTQ. I have been patient but the constant falling price has got me nervous what do you suggest.
    Your input is always appreciated.

    • Nooresh March 25, 2013, 13:41

      Have concerns on the stock

  • jagannathan April 5, 2013, 07:14

    As suggested by you on 19th march today nifty has almost reached 5550.Can we initiate trade by purchasing nifty?

    • Nooresh April 5, 2013, 09:12

      Yes with stoploss at 5530 on closing basis

  • Vetrichelvan April 9, 2013, 09:03

    What would be the expected target if we go long in NF now around 5560. RSI at 31, which I feel a very good level to enter for long.

  • Vipul May 2, 2013, 16:47

    Nooresh – Fantastic call.. Many congratulations.

    • Nooresh May 4, 2013, 16:41

      Thanks for the kind words

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