Technical Analysis of Indian Equities by Nooresh


Few Technical Charts – Union Bank of India, Yes Bank and Larsen & Toubro. Some more updates on Nesco, Jayant Agro, IFGL Refractories, Bombay Burmah.



Yes Bank --- Risky traders may look at shorts on spike to 320. Seems getting into strong resistance.




Union Bank of India ---- The preference for PSU banks is what remains. This seems the best of the lot on technicals. Already have a buy view initiated at 193.




Larsen & Toubro --- This stock seems to bottom out whenever i have initiated a view of pyramiding πŸ™

Recent view posted around 1000 recently - 


Had earlier initiated such a view at 550 levels in March 2009.


The stock has jumped from 1000 to 1300 in this period πŸ™‚ i.e 30 % from the lows. Although partial booking was suggested at 1150 whatever left should now be forgotten for long term or review at 1450-1500.


Certain midcap stocsk ---


Jayant Agro and IFGL refractories seem interesting for 10-20% jump and can be bought on dips but please do your own research.


NESCO has jumped to 670 levels from the recent lows of 500. Continue to maintain the bullish stance for long term and buy on every dips. Working on a detailed post πŸ™‚ will update soon as its a stock to be kept for a 2-3 years.


Meanwhile we are still not getting any research or comments done on this post  about small cap ideas.

Bombay Burmah seems an interesting bet at 400-350 with a defensive approach and patience.


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Happy Investing,

Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2799 articles.

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{ 6 comments… add one }
  • Imtiyaz January 24, 2012, 10:33

    Hi Nooresh,

    Views on Suzlon, can we short suzlon now???

  • venkatesh January 24, 2012, 22:46

    Nooresh bhai i think camlin which was one of the stocks recommended previously in this blog is in the range of Rs.35. Do you think it is the stock to be picked at this rate????

    • nooresh January 27, 2012, 12:25

      Yes the stock does look interesting but many options now

  • Stock Hunter January 25, 2012, 22:08

    Mr Nooresh,

    Jayant went up 10-15% from your recamentation .Result was out..Not great but y-to y base Not bad also. production started at their derivative plant…I think that was the reason sudden interest from investors. But if you look at the delivery percentage it was very low compare to last few months.I think current trend 112-118 will be major resistance !!!! what is your target ?what would be long term investors do this counter??

  • Jagdish Somani January 26, 2012, 17:48

    Nooresh bhai YES Bank shorted at 330.00 yesterday.
    What is the out look ?
    Please tell.

    • nooresh January 27, 2012, 12:25

      Keep a stoploss of 340 and look for 320-300 in near term.


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