Sensex Technical View:

As mentioned earlier Sensex had given a breakout and the pattern suggests a maximum target of 19400.

Parallel Channels, Trendlines, 61.8% retracement all come in the band of 19200-19500.

At this point of time a good short trade can be done as closer to the higher band or slowly build up a position on the index.

Stoploss 19600 on closing basis.

Even if markets were to test higher it may retest the breakout levels at 18700-18900.

Similar chart for Nifty gives a stoploss of 5890 and dips to 5650. Short on every rise above 5750.

Disclosure ( advised shorting Nifty at 5760-5780 partial qty in April will add at 5820-5860)

Stocks to watchout for :

Aventis Pharma has given a breakout watchout for a move to 2300. Low liquid stock so investors may do their own research.

LIC HOUSING advised to clients at 201-203 booked at 212-214 and 220-225 in 3 sessions.

Piramal Healthcare which has cash to the tune of 500 + rs post buyback looks a good defensive bet below 440 till 380.

MRPL can see a move to 70 levels if crosses 64.

Paper stocks may be in action tomorrow after the announcement on AP Paper Mills. BILT seems a good funda play.

Long term investors may look to accumulate Navneet Publications with a 1 yr view.

For more of our Advisory Services check – www.analyseindia.com or speak with Asif 09833666151 Kazim 09821237002

Regards,

Nooresh