Technical Analysis of Indian Equities by Nooresh


Chambal Fertilizers,GMDC and Bharat Electronics — Good Technical Setups.


Bharat Electronics can zoom in short term if stays above 1600 levels. The volumes are an indication of huge accumulation.




Chamabal Fertilizers --- Have been patiently waiting for a breakout above 94 to initiate a momentum trade.




GMDC ---- Very recently and many a times before have been recommending the stock as a good long term and short term bet.

Previous update at 170 --

Very recently mentioned it to be a strong accumulate for long term




Meanwhile Dow Jones seems to be setting up for a breakout move above 13000 if it does so then it can surprise the street big time.

Had mentioned about this bullish stance on Dow in a detailed posting some time back here--- Check Link -



Sensex and Nifty Technical View:

As posted yesterday on blog and through my tweets that one should be buying this dip to 5320-5200 levels but one should be stock specific.

The view remains the same buy the dips book partial profits on rise to keep some part of cash to deploy on dips again.

Recently some of the midcaps may have taken a 10-15% hit. If you are in quality it would be fine to hold the stocks πŸ™‚



Happy Investing


Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2807 articles.

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{ 5 comments… add one }
  • Pranav February 29, 2012, 03:22

    Dear Nooresh,

    What do you recommend for ONGC? Should a long term investor (2-3+ yrs) buy it now or should wait for some declines?

    Also let me know your view on SBI for long term. Should one wait to accumulate it or can be added even at these levels.

    Thanks for your valuable inputs.


    • nooresh February 29, 2012, 14:04

      One should buy ONGC on every dips.

      SBI is always a hold πŸ™‚ have been recommending from 1800-1500 we booked out at 2450 but relooking on dips.

  • Dhiraj Mark March 6, 2012, 10:21

    Hello Nooresh, good morning!!! Is GMDC still a good buy? not much action in last couple of days, is it still on the technical radar for a spurt?
    Please take some time out to reply.

    Dhiraj Mark

    • nooresh March 6, 2012, 10:23

      Technically its given a breakout and can keep testing 190 levels. We have an exposure initiated from 180s and added more at 200-203. Will keep a stoploss of 180 now and wait for the stock to perform.

      Its a long term play. With such breakouts it only takes 3-4 sessions to move but can keep hanging around the same price for many weeks.

      • Dhiraj Mark March 6, 2012, 10:31

        Thank you so much Nooresh!!!


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