Technical Analysis of Indian Equities by Nooresh

Sector on Radar–REC, PFC , Tata Power and Torrent Power

A few names in Power and Power Finance Companies are on verge of breakouts. Are we seeing a turnaround in the sector for long term ?

Tata Power

Tata Power – Bouncing after testing support. Sustaining 75-77 would be an indication of turnaround.

Torrent Power

Torrent Power – Good base made at 210-220 and now a short term breakout done above 255-258

Power Finance

Power Finance – Multiple tops at 88-90. Crossing and sustaining would be a trend change.

REC

REC – Crosses recent highs and can possibly bounce towards 130-135 and then consolidation for a long term reversal.

The BSE SMallcap Index is also on verge of a short term breakout. Can we see selective catch up in Smallcaps ?

 

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Article by Nooresh Merani

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