Technical view by Nooresh

Nifty at 6000. Book profits does not mean Bearish but opportunistic

Just a few days back a lot of people on the street were highly skeptical and outrightly bearish with reasons ranging from politics and macro economics.


Majority of them mentioned various different levels.


We stood out with our strategy and kept mentioning to accumulate the dips from 5600.


The first post mentioning a few stocks and nifty to show positive divergence. 


The next major post mentioning that its time to be greedy and a simple buying strategy of Nifty bees would have also given a 8-10% return in less than a month. 


This was the special report - Special Report – Equities – Get Ready for a Bright Future Special Report – Equities – Get Ready for a Bright Future 


So now we stand at 6000 – Up 10% from lows on Nifty and 15% up on Bank Nifty.


For all the people who mention Sell in May and Go Away need to have bought in April. If you acted on our advise its time to take profits fully or partially. Also sitting with the investments tight will also be of if one can digest a 200 points dip on Nifty.


Does it mean am bearish on the medium to long term ? No

But its always good to stick to risk-reward entry points which is no more exciting.

As mentioned before the opportunity at 5500 was equivalent to one at 4500/4800. In the same way at 4500 nobody could see 5600 and 6100 at 4800 but the moves were not linear. ( we got superb opportunity again at 5200-5300 to trade for 6000 – see this post in August – Forget the Past when we turned extremely bullish at 5200 – Forget the Past )


So at 5500 we may not trade for 6500 but at 6000 its time to wait for the next big opportunities.


The trend remains bullish given the break above 5975 and we may now wait for some more days of closing.

The midcaps seem to be an interesting space and we believe next strategy should be to be on lookout for quality midcaps. Will try put out some interesting investment picks if possible. One we have gone into is Aarti Inds.


Would you like to learn the way to spot interesting opportunities like the one at 5500 and do that independently. If yes do attend the following workshop.




MUMBAI – MAY 18-19


For more details mail to or call Nooresh 09819225396 Ankit 09899899989

Article by Nooresh Merani

Nooresh has written 2532 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 7 comments… add one }
  • vipul ajmera May 2, 2013, 19:08

    What is the topics u cover in workshop? what are the charges? I know the TA but i am more intrested in psycology & execution of trades. I also want to learn option trading.



    • Nooresh May 4, 2013, 16:41

      Hi Vipul,

      Give me a call on 09819225396 for more details.

  • Dr Nirav Shah May 3, 2013, 09:45

    Excellent update Nooresh. you have made a series of bottom picking rightly timely and wisely.

    I tend to check your blog occasionally and find continuous improvement.

    Best of Luck to you & your concerns for a very profitable and bright future

    • Nooresh May 4, 2013, 16:41

      Thanks for the kind words.

  • rashmi May 4, 2013, 11:50

    Dear sir,I read ur posts with great interest.I would ike to know your views on mcleod russel.Earlier u had given a target of 550.Is the target still on?I have bought it around 254.regds Rashmi

    • Nooresh May 4, 2013, 16:40


      Can hold on to the stock. Shift partially to tata global on dips to 140-130.

  • rashmi May 8, 2013, 10:25

    thankyou sir for the updates


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