Technical Analysis of Indian Equities by Nooresh

Nifty and Bank Nifty – Technical Trading View

Nifty futures is trading between 4705-4675. If Nifty futures starts trading below 4675 then it will re-test the low 4640-4635 which was made yesterday.

Bank Nifty major support for the day at 8020 and resistance at 8115. Stocks to track SBI,ICICI, Axis.

Click below to see Technical charts and Read More......

Article by Nooresh Merani

Nooresh has written 2808 articles.

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{ 12 comments… add one }
  • jagdish December 30, 2011, 12:40

    sir gold and silver me kya lagta he pls advise
    pls me mcx ka tips lena chahta hu lekin thoda problem he pls silver and gold me kya lagta he

  • jagdish December 30, 2011, 15:43

    sir gold and silver me kya lagta he pls advise

  • jagdish December 30, 2011, 15:44

    me silver and gold buy me hu 10 kg silver 55000 aur 200 gram gold 28700 me buy me hu kya karu pls

    • nooresh January 1, 2012, 14:40

      Hi Jagdish,

      No views on Gold/Silver for short term. Remain bearish on rise but near term seems a pullback.

  • Anand December 30, 2011, 16:35

    Hi.. Both these levels are broken… What would you Advise? Good time to buy?


    • nooresh January 1, 2012, 14:39

      Hi Anand,

      These are pure intra day levels for quick traders.

  • teju January 1, 2012, 00:28

    Dear nooreshbhai,
    Happy new year !!
    I am holding rcom, rpower,uflex,unitech and hdil. which scrip should i average at current level. As rpower opertion will start from current year, will it be profitable to shift my investment from rcom to rpower fully. Do you think uflex is value buy at current price. Which is the good pick fundamentaly frm realty sector.

    Thank you

    • nooresh January 1, 2012, 14:39

      Well out of the 5 all of them are bad in terms of price performance.

      Real estate stocks are falling coz of mgmt concerns and a bit over done but BULL STOCKS of a cycle dont move for next 6-8 yrs. IT stocks in 2000 is a point. So we are already through 3-4 years. So difficult to take a long term bet on them.

      I would consider rcom to be the safer one out of the 5

  • Sekhar Krishnan January 3, 2012, 18:04


    Your latest article on nifty makes interesting reading. As regards to the various options that you have listed don’t you feel that we have one down leg still pending on account of the strength in the US dollar which appears to be heading to 85. Possibly our markets along with the world markets may fall along with S&P.

    Sekhar Krishnan

    • nooresh January 3, 2012, 21:05

      Hi Sekhar,

      As i have mentioned that the bearish consensus is too strong which augurs well for a short term rally. Its a very short term call. We will review at 4800-4900. Also Dollar Index has been giving signals of breaking out but no confirmatory moves yet. Also I am not very bearish on S&P 500 till we see a turnaround signal. Look in this post.

      Also why just one down leg we can have more 🙂 but currently lets get done with this small up leg. In the current markets its better to follow then to try predict a big leg.

  • Saleem January 5, 2012, 11:09

    Hi Nooresh,
    Whats your view on IRB infra, jp associates. Is earlier post, it is told they are going to make long term bottom, is the current market price is good to invest in these stocks for six to 1 year time frame.


    • nooresh January 5, 2012, 16:39

      Hi Saleem ,

      The long term view is positive on the stock with 1-3 yrs perspective but in near term its more of a short trade as it has broken its support levels of 135.

      Last time we had initiated a view around 140 levels from where we did see 15% bounce back but overall would prefer to wait and watch on Infra stocks.

      Rather prefer to buy on the way up.


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