Technical Analysis of Indian Equities by Nooresh

Wait and Watch ….

Sensex technical View :
A nothing day on the index. Technically still the range of 14900 to 15800 remains. Till we dont see a clear break out move on either side its a wait and watch approach. If we consider that 15580 is an intermediate top then we need to look into the retracements . 38 % retracement is placed at 14400.

Well nowadays lot of ppl r tracking crude and gold so will put some views.

Crude has come down to 112 -113 from 148 levels and is near supports. A bounce to 118-122 is a good possibility. Only a move above 126 zones would need a look in .

Gold seems to be settling arnd 800-810 zone and a bounce to 840 is possible. I dont track it closely though.

Stocks to watchout for :

Stocks with positive bias :
Lupin needs to sustain 770 levels for move up
Crompton Greaves 275 if sustains could see 290.
Sun Pharma Advanced above 90-92 can touch 105.

Stocks with negative bias:
Aban Offshore if sustains below 2350-2400 can go to 2200.

This is just a view and go with mkt conditions .

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Best Regards,

Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2808 articles.

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