SENSEX TECHNICAL VIEW:
As was mentioned that short term channel support is placed in the band of 17300-17400. Sensex made a low of 17373 and did a recovery to 17700 + by day end.
As of now the market remains ranged between 17300-17900.Continue to buy on dips and exit on rise for index.
As of now 17370/17000 remain important support in near term.
Stocks to watchout for:
Real Estate stocks took stoplosses. GMDC and Guj Alkalies still look good can keep a watch for short term moves.
Persistent needs to close above 420 to trigger a quick move.
GIC Housing and TVS Motors triggered crossoves and doing good.
IFCI seems to be trying a breakout again. Short term resistance at 60. Sustained closing above 60 could take the stock in a huge momentum move. High risk traders can buy on dips.
Alfa Laval another stock which is a potential delisting candidate is hitting new highs. Seems something cooking.Investors can have a look for small exposure.
Nahar Spinning is making interesting cup and handle on charts . Buy on close above 97 for a quick 15% gain stoploss 90.
Nooresh Merani - An IT engineer by qualification and Advisor/Trainer by profession.