Technical Analysis of Indian Equities by Nooresh


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Stocks at Supports, Resistance and Retest–United Breweries, Take Solutions, Prism Cements, NIIT Limited, Monte Carlo, Max Ventures, LT Foods, Crisil, Bajaj Auto.

In Stock Charts

Over the last few days the divergence in movement of Smallcap Index and Nifty has reversed. Nifty has made new highs and Smallcaps continue to drift down with quite a few smallcaps/microcaps seeing a 10-20% drop from recent highs and the Smallcap Indices down 5% from the recent highs. The [...]

Technical Charts – Icici Bank, Axis Bank,Bpcl, dlf, Hero Motocorp.

  Earlier we were looking for a price action above 900-910 or a move beyond 840 on downside. There is price action below 840 but it formed a doji for last couple of days. No signs of momentum seen on the downside too.     Axis Bank — Again near [...]

Some Quick Technical Charts

  Also more such quick observations posted on   Above is just a quick review and not a buy/sell recommendation so please do your own research. We may or may not take any action on above charts.   Currently our view is to stay on to cash and hold [...]

Jubilant Foodworks – Too Expensive –Highly Speculative !

This has been one of the favorite stocks of speculators over the last many months.   If one has to simply look at the fundamentals it really hits us as to why would you buy this stock at 850-900 levels ? Things to note.   -> Current Market Cap of [...]

Axis Bank and Cummins technical charts

  Cummins —- Breakdown confirmed but no follow up.     Axis Bank — Fall but with less pressure can expect pullback in coming days.   Technically this is a consolidation for the markets and it will continue to give surprise hits on either side. Traders need to be cautious [...]

Godrej Inds – Low Downside Risks– Huge upsides in Long term – An important pick for a long term portfolio.

  Over the past many months we have been recommending Godrej Inds at 185-200 levels as well as had many trading positions in it in this range of 185-240.   But lets look at a little longer time horizon on the stock and possible reasons for buying the stock with [...]

Alert to buy declines on Friday between 4820-4720. If bought time to book.

  Last Friday had mentioned that one can look at staggered buying as INDIA VIX was back to 37 odd levels showing extreme panic. Alert VIX . We initiated a couple of option strategies on Friday which yielded 5% + in 3 sessions ( will update a detailed post on [...]

Escorts – Interesting candidate for Bounce Back

  Escorts — The stock has fallen sharply with no meaningful pullback. Closing above 76 opens up a move to 82 in short term and even 90-95 in extreme case.   Please do your own research as the stock is a volatile one. Disclosure: Have advised clients at 75.   [...]

Eicher Motors – Another strong breakout – Accumulate. Sensex range bound for now.

    Eicher Motors – Stock has hit 52 week highs in falling markets :) which clearly shows the strength. Accumulate on every dip stoploss 1300 medium term target price 1600-1700.   Disclosure: We have a buy on Eicher, Berger and other stocks discussed and will be from a little [...]

Berger Paints – Accumulate for medium term target 120-135.

  Berger Paints –   Had recommended the stock in our detailed powerpoint as a good midcap pick, The stock has remained resilient in current markets and is on verge of a major breakout. Accumulate between 112-102 with a stoploss of 95 and target price of 120-135 in medium term. [...]