Technical Analysis of Indian Equities by Nooresh

Technical Charts – Century Textiles, Crompton , MTNL , NMDC , Sintex

 

 

After the previous post on Karnataka Bank which has given a nice breakout and Grasim waiting for 3000.

Some more charts which look interesting

 

Century Textiles – The downward trend line is broken on the upside indicating selling pressure is finally over. After a consolidation for the past few weeks can expect a bounce to 315-330

 

Century Textiles

 

Crompton Greaves --- A small bounce to 105 is possible. Review on closing above for a fresh trend change

 

Crompton - Reversal

 

MTNL – Another dead stock finally seems to be coming to life with large volumes today. This can even be a bet for the next 1 year if market men are to be believed with a possible upside to 40-50  ( Market rumours ). Technically 25 seems to be on cards.

 

MTNL

 

NMDC – Can coming into the index make a difference to the stock? Falling wedge gives us a good risk reward with stoploss of 123. Short term bounce to 136 and beyond that could be a major trend change

 

NMDC

 

SINTEX --- Another fallen hero finally seems to be turning around again. A quick bounce to 53-55. Beyond 55 we could even look at 65. Good risk reward. Stoploss at 48

 

 

Sintex

 

Another small cap stock which we have picked up as a short term trade is Elecon Engineering.

 

Disclosure: Would have recommended some of the stocks today in the above and some might be on radar

 

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Best Regards,

 

Nooresh Merani

 

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Article by Nooresh Merani

Nooresh has written 2627 articles.

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