Technical Analysis of Indian Equities by Nooresh

Excellent moves in Chambal, GMDC, GSFC, Idea, ONGC, Sun Pharma, Bajaj Auto, Aditya Birla Nuvo,

In the last few weeks had posted many technical charts and we saw good directional moves giving a spurt of 5-10% in quick time.


Chambal Fertilizers – 108 to 116


GMDC – from 170 to 190 +


GSFC – 395 to 430


Idea 98 to 103


Sun Pharma view given about bounce did 480 to 510+


Bajaj Auto – 1500-1550 to 1650


Aditya Birla Nuvo – Came out with a detailed fundamental reasoning stock has bounced from the lows of 820 to 970. Now have advised clients to book partially and no further buying as of now in it. – One more trigger now is possible banking license


We had earlier maintained a high cash view at break of 19000/19900 and later at 18000 had mentioned an increase cash to clients. In between we had been buying at 17300 in last dip.


Recently last monday we had given a detailed technical presentation with a short term bottom being in place and of the stocks mentioned have given good moves.


Hope the information on the blog is useful. If it is then please recommend the website to others 🙂


Technical Analysis Training Sessions scheduled for Hyderabad and Bangalore in Mid to end of September. Interested people can speak to Kazim 09821237002 and Asif 09833666151

Also this week will be featuring on CNBC TV 18 Bullseye program telecast at 11 am everyday.


Happy Investing,


Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2799 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 13 comments… add one }
  • S K September 8, 2011, 08:49

    One case check : bought BRPL @ 80 the stock did not rise thereafter. Slides to 35-40 Rs. obvious i got concerned so asked if there is something wrong, then broker said sell it bcos it’s going to get delisted & merged.
    After having sold it did Rs. 100 & then again slid to 40 – 50 Rs.
    Loss incurred Rs.8 Lacs. on brokers advice.
    Broker smiles when questioned.
    Please explain this phenomena.

  • S K September 9, 2011, 00:16

    One case check :
    Bought BRPL @ 80 on advice (recommendation ) of a broker. Stock immediately started to slide all the way to 35- 40 Rs. After long period I asked the broker & he adviced to sell it. Th stock there after started to rise to Rs.100+ & then again slided to 45-50 Rs.
    Whats the the game sir ?
    I went wih intention to invest but seems the advisors d0nt need the investments.

    • nooresh September 9, 2011, 11:35

      Hi SK,

      BRPL does it mean bongaigaon refinery.

      Well if you want to invest i would suggest do a bit of due dilligence urself as well and proper risk management / asset allocation

  • SK September 9, 2011, 15:23

    I appointed a broker for the advice. Idonot have the time to che k myself.

    • nooresh September 12, 2011, 23:31

      Hi SK,

      If you do not have time to look into ur investments and not ready take the hit for the brokers timing misses then go thru Index Funds or a advisor you believe in.

  • Rahul Toshniwal September 10, 2011, 14:09

    Sir, can you advice me whether CROMPTON GREAVES is fundamentally strong enough to buy at these levels.Please sir,looking forward to your reply.

    • nooresh September 12, 2011, 23:30

      Hi Rahul,

      I am not the best guy for fundamentals but from what i know from people tracking the sector is the going would be tough but 100-120 is the worst downside. If you are ready to digest those levels in downturn then start accumulating.

  • bhanu September 11, 2011, 22:40

    hi Nooresh,

    can i average Andrew yule @CMP

    • nooresh September 12, 2011, 23:29

      Hi Bhanu,

      the stock has not performed as expected and took a stoploss hit. Would rather prefer putting fresh money elsewhere

      • bhanu September 16, 2011, 08:14

        So can i hold or book losses?

        • nooresh September 16, 2011, 10:00

          I would suggest to shift on rise

  • sushil dhanuka September 20, 2011, 23:35

    MY VIEW EVERY FALL TO BUY FOR LONG TERM LIKE- Reliance ind, rel infra, reliance capital, andhra bank, corporation bank, axis bank, beml, rec, pfc, tcs, infosia, voltas,and bhel.

    • nooresh September 21, 2011, 15:13

      Hi Sushil,

      Thanks but quite a lot of them are large caps


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