Technical Analysis of Indian Equities by Nooresh

Tata Chemicals, Andhra Sugars, DCM Shriram, State Bank of India, Canara Bank , Bank of India – Stocks on Radar

Just a few stocks which came up on radar - Closer to resistances or breaking out.

Tata Chemicals - Lots of resistance around 580-600.

Tata Chemicals

Andhra Sugars - 10 year highs.

Has always been cheap on a P-E Basis. Good track record of dividends. Underperformer in the caustic soda/sugar rally.

Andhra Sugars Blog

DCM Shriram - New all time highs with a good volume tick.

Disclosure - Stock has been recommended in Technical Traders Club 

DCM Shriram Blog

PSU Banks

A lot of PSU banks are pretty close to the resistances of last 12-24 months.

It will be interesting to see if they breakout into a strong upmove.

Disclosure - We would have recommendations on some PSU Banks in Quickgains 

Bank of India - Stiff resistance at 140.

Bank of India

Canara Bank - Can it breakout above 300-305.

Canara Bank b

State Bank of India - Can it breakout above 280-290. Lots of attempts on that trendline in last 2 years.

SBI Resistance

 

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Nooresh Merani

Securities covered above:: Tata Chemicals, Andhra Sugars, DCM Shriram, State Bank of India, Canara Bank , Bank of India

SEBI Registration disclosure – Investment Adviser ( INA000002991)

Financial Interest:

Nooresh Merani and his family/associates/ analysts do not have exposure in the securities mentioned in the above report/article.

Nooresh Merani and his family/associates/ analysts do not have any financial interest/beneficial ownership of more than 1% in the company covered by Analyst.

Nooresh Merani and his family/associates/ analysts have not received any compensation from the company/third party covered in the above report/article ever.

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Article by Nooresh Merani

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