Technical Analysis of Indian Equities by Nooresh

≡

Downward channel continues to support…

By In Technical Analysis Last Updated On: 29/03/ 2010

Sensex Technical View :

Yet again Sensex makes a low around the downward channel support of 16200. As suggested ( client sms ) yesterday that if 16200 holds we would see a bounce to 16500-16700 which will fill the gap at 16626.

Todays low of 16196 is yet spot on the downward channel for which supports would go lower every few days . Again a bounce to 16700 -16900 zone is possible if 16100 holds up. But will again be clear to mention in a downward channel we could see bounce backs to test the upper ends but till we dont close beyond upper end ( 17200 + ) we cant presume a change of trend and bounces would face resistances .

Traders will have to be quick and can trade the bounces only if they are strict with stops. Investors can wait and continue to do their homework about particular stocks .

Stocks to watchout for :

Few days back it was mentioned SBI below 1580 , ONGC below 980 , BHEL below 1700 , ICICI bank below 860 and we saw a slow and steady decline in all those prices which led to index pressure... ..

Guj Alkali can give a good move if crosses 195 . Could go up to 210-220 levels in short term . Traders can keep a watch ...

Risk calls for bottom fishing : IOL netcom , Indus fila , tera soft ........... Downside risk 10% accumulate tgt 20-25% upmove in next 1 mth.

TECHNICAL ANALYSIS SESSION :

People interested for the course in Mumbai ( June 2nd or 3 rd week next schedule ) and other cities can mail to noorrock2002@gmail.com .

FOR SMS updates ---- https://www.smsgupshup.com/groups/NooreshTech Join the group or Get messages from this group on your mobile phone. SMS- JOIN NooreshTech to 567673434.

Best Regards,

Nooresh 09819225396

noorrock2002@gmail.com
meraninooresh@yahoo.com

Article by Nooresh Merani

Nooresh has written 2799 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 0 comments… add one }

Leave a Comment


This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join us

Subscribe the free newsletters

Social Follow Icons

Subscribe on Whatsapp

Whatsapp

Account Details

Account Holders Name - Nooresh Merani Account No - 06661530002851 IFSC Code - HDFC0000666 Branch - Versova Branch UPI Payment MMID - 9240905 Mobile Number - 9819225396

Twitter Updates

Archives

Categories

Status

Logout

Client Testimonials

In 2 days, I learnt everything about Technical Analysis. I got much more than what I had invested. Excellent course - A must do for everybody in the stock markets

Kalpesh Oswal

“The best part is that I was never worried when the markets were down last year. I sold and bought, bought and sold at relevant stoplosses and targets. I have made good money.”

Anand Biyani, Research Analyst

View More Testimonial...

About NooreshTech

Nooresh Merani - An IT engineer by qualification and Advisor/Trainer by profession.
Founder - Analyse India.
Also consults for an institutional broking firm.

I have been blogging for the last 8-10 years with detailed, crisp and accurate views on Indian Stock Markets as well as global indices and commodities.

IT Engineer by qualification

Blogger/Educator/SEBI Registered Investmnent Adviser.

Writing actively on this blog for 8-10 years now

Guest Analyst - CNBC, ET Now, Bloomberg etc.

Full Time - Trader/Investor/Trainer/Adviser

Read more here - https://www.nooreshtech.co.in/about

https://www.nooreshtech.co.in/disclaimer

© NooreshTech.com All Rights Reserved. Sitemap

Site designed by ThesisCustomizationservice.com