Technical Analysis of Indian Equities by Nooresh

Stocks on Radar–BASF India, Eclerx, Mphasis, CESC Limited

Few Quick Charts.

But before that a quick note.

  • One needs to look at Delivery Volumes percentage deeply of late in a price and volumes breakout. If the delivery percentage is less than 20% checkout if its covered in some business channel or some media. Seeing a lot of fake moves because of the pumping up. Good source to check is www.moneycontrol.com and web.stockedge.com
  • For example if general delivery volumes for a stock is 60% and even on Big price move day is 40% and suddenly drops to 10-20% on a price volume breakout day. It could very well be because it got discussed on some Media and a lot of punting. Such breakouts maybe a trap.

Some Quick Charts on Radar

BASF INDIA – Multiple attempts at 1200-1240. A breakout could be interesting. Given the interest in the sector this needs to be kept on radar.

BASF India

CESC Limited – We have earlier looked at Tata Power and JSW Energy. Another Power sector company near a major resistance.

CESC Limited

MPHASIS – Multiple attempts at the same trendline resistance.

MPHASIS

Eclerx – Triangle Consolidation. On watch above 460-480.

Eclerx

 

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Article by Nooresh Merani

Nooresh has written 2788 articles.

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