Sensex Technical View:
The pullback from 14700 has not lasted much which is not a good sign and now have to wait and watch whether 14700 holds up again or not. Technically its a very important support and would not be broken easily . Below that level support is placed at 14100 . Investors can wait for 14100 or those who have not yet deployed cash at 14700 can do so now . High risk traders can go long near to 14700 for a bounce back with a stop of 14600 .
Friday would imply inflation nos to be put in and as usual i dont understand economics much so cant speculate on the same but according to expectations its either 9.3 or 9.8 !! ( both can be wrong also 🙂 .... Difficult to speculate on impacts but currently its a traders market or a very long term investors market who will need to be patient to get some good dips and go staggered . Difficult to make quick money unless one is a good disciplined quick trader !
Will put fresh calls on the blog as i dont update
SBI , BOI look good in the banking space if we see a correction from here on in banks . Only with a long term view.
Small caps which seem to have overcorrected and investors can do some study on
Radha Madhav, Elecon Engg , T R F , Pioneer Embroideries ... If readers have some views on the same can put it in comments.
Best Regards,
Nooresh
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