Sharp Pullback … Sensex holds above 13500… Can it stay above 14500 ??
Last Updated On: 27/05/ 2009
Sensex Technical View :
Sensex snapped back the losses of the previous day with a quick move from the supports around 13500 gap zone. It would be interesting to see whether Sensex can cross 14500 levels which is a difficult task. So for the time being range remains 13500-14500 with a positive bias on broader markets.
Stocks to watchout for :
Venus continue to maintain bullish stance for medium term and may possibly perform like Dishman Pharma.Hold maintained on great offshore.
The stock has given a small breakout above 170 zones. Can buy around 169/175 with a stop of 163 tgt of 185+ in short term.
Another stock in the pharma space seeing buying interest though technically one should wait for a move beyond 280 with volumes for a tgt of 300-320 in short term.
Bharti Airtel :
Good support around the 748-755 zone can be bought closer to it for a trading bounce with a stop of 745 which if broken can go towards 715.
SMALL CAP PENNY STOCKS -
After some smart moves in indo wind, emmsons,gontermann,celestial labs,marksans, lakshmi engg one can look to book half the position for penny pickers and shift to following with a 10-15% stop and tgt of 30%
Glory Poly , K Sera Sera , Cerebra Intl .
Such stocks are only lion hearted traders.
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