Technical Analysis of Indian Equities by Nooresh

Quick Technical Charts – Maruti, Reliance Inds, Bank of India and Kesoram Inds

Maruti – Time for a dip it seems. Sharp traders can look for shorts on rise.



Reliance Inds : 1040-1055 remains a strong resistance band which if broken will take it to 1100-1120 giving a big push to the index.



Bank of India :

After lot many hits at 470-475 the stock has finally broken out and may head to 500 in short term.



Kesoram inds : NICE VOLUMES build up suggests a possibility of a breakout above 208 which can give sharp 5-10% jump.



Sensex to face resistance at 19400 which has been our target price and a stoploss for shorts above 19600.


Stocks to watchout for :

If markets remain stable there could be sharp jump in midcap banks like uco , idbi, dena, dhanbank and dcb as the bigger banks have done their move.


Century enka, tata elexsi, gulf oil seem interesting bounce back candidates in the next 1-2 weeks.


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Article by Nooresh Merani

Nooresh has written 2801 articles.

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{ 2 comments… add one }
  • bhanu March 31, 2011, 08:00

    hi Nooresh,

    Nice to see you back in some action. Can Bengal Assam be bought now? Also your view on Auto Corp goa. has been stable for a while.

    Appreciate you reco on this.

    • nooresh April 1, 2011, 13:16

      Hi Bhanu,

      Bengal Assam has fallen in line with the fall in JK group cos.
      Fundamentally nothing has changed.
      Auto Corp Goa remains a strong bet funda wise.


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