Technical Analysis of Indian Equities by Nooresh

Technical Charts on Radar – Bharat Bijlee , Capital First, Cholamandalam, ENIL, Infosys etc

In this post trying to list down some of the stocks which have seen following.

  • Strong recovery from the recent lows and back to previous highs or 52 week highs.

( Have just skipped out Sugar Sector stocks in which many names like Balrampur, Dhampur, Eid Parry, Triveni and etc have hit new new 52 week highs)

Please do your own research. Not a buy/sell recommendation just technical observations.

Also there is a possibility of a NAV ramp up in midcaps in end of March as per age old sayings so will be watching out for further follow up action in following names.

Bharat Bijlee

Bharat Bijlee

  • Strong recovery back to almost 52 week highs. Can be interesting on dips.

Capital First

Capital First

  • Fresh breakout but volumes not very encouraging.

Chola Finance

Chola Finance --- No effect of Market turmoil

ENIL

ENIL --- 1 year of consolidation. Can it breakout ?

geometric

Geometric --- Back again to 200 levels with a lot of buzz around deal.

GIC Housing

GIC Housing --- Breaks out above recent highs. Even CanFin Homes has hit a new all time high.

grasim

Grasim --- Back to 3800-4000 resistance.

Havells

Havells -- Knocking at 315-325 after a year.

Infosys

Infosys - Above 1200 into 52 week highs but no follow up yet.

Piramal Enterprises

Piramal Enterprises --- Fresh 52 week high on low volumes.

TVS Motors

TVS Motors --- Breakout in 52 week highs with decent volumes.

Welspun

Welspun India --- Hit new all time highs and consolidating at 95-100

 

 

 

 

 

 

 

 

 

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Article by Nooresh Merani

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{ 3 comments… add one }
  • Prashant April 1, 2016, 11:24

    Dear Mr. Nooresh, I am from a small town Akola (MS) learned a bit of TA and trading in futures on & off from last six years. My TA studies were selected thrice by Mr. C.K.Narayan in program Talking Technical on Times Now in 2012. Two experienced technical traders (of rich experience of more than 10 years) appreciated my trading. When I started trading in futures I lost 1.6 Lac from my limited capital, I recovered all that made a gain of Rs 3.5 Lac straight and then lost Rs 3.95 Lac straight away -). So I am a descent technical traders but raw, may be my stock selection was wrong, may be I traded against the main trend, may I am impatient. But I am sure that I can trade futures successfully if I trade it properly & so need your help.
    Please let me know if you can help me . I use icharts.
    Thanks and regards
    Prashant

    Reply
    • Nooresh April 1, 2016, 11:47

      Hi Prashant,

      I still do not get it why do you calculate losses/profits in absolute terms and not in %ge terms to deployed capital.

      It all shows you are using leverage to high levels. That requires a lot of precision. I would not be able to help much in over-leveraged trading.

      You can give me a call on 9819225396

      Reply
      • Prashant April 1, 2016, 12:28

        Agreed with you & will not trade using leverage to high levels. Thanks for replying & would definitely call you.
        Thanks and regards
        Prashant

        Reply

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