Technical Analysis of Indian Equities by Nooresh

Sensex – Time to consolidate in a range before setting up a move in July !

After a week or two of irregularity on postings should be able to post daily this week.



Sensex Technical View:

After the strong upmove from the lows of 15960 Sensex reached a high of 17919 which is almost a clean rally of 1900-2000 points.

People with bearish bias would call this corrective while on the other side Bullish would call this a Bear Trap.

For now a pullback to 17300-17500 or lower could be possible as index needs to gain strength before taking a short at new highs in July (time analysis scenario

So for now on the index its a wait and watch zone and focus on specific stocks.


TATA TEA  - Long term defensive pick.

The stock has finally broken out after 5 years of consolidation.

Investors looking for steady and slow returns should buy on dips closer to 1100 or buy from current levels and SIP for next few months.



Article by Nooresh Merani

Nooresh has written 2801 articles.

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{ 2 comments… add one }
  • Pratik , Baroda India June 28, 2010, 15:28


    Kindly study the chart of tata coffee a the prices of coffee are expected to rise in international market.


  • Samir June 29, 2010, 00:15

    Hi Nooresh. Any view on HPCL now?


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