Sell on Rumours Buy on News ! is the mantra ….

Sensex Technical View :
Sensex makes a low of 13731 in the zone of 13500-13800 as suggested quite some time back !. As clearly mentioned we would see a bounce back from that zones and buying for short term could be done !. Right on we saw a quick recovery to 14200 levels by end of day . Resistance for the current upmove is placed at 14700-15100 zone. Only a weekly close above 15800 in next 3-5 weeks would mean a turnaround till then its a technical bounce.

Strategy :
Yes it was a bold call to suggest going long in options / futures and buy today ! and a technical conviction .... Sensex recovered 400 + points from the lows / Nifty options doubled from the lows hope traders had a good day..... Traders can continue to keep trailing stops for a tgt of 14700 /15100 .
All the stocks discussed RPL , IDFC , Hindalco and other picks gave good oppportunities to take partial exposure. Investors can continue to hold the same .

Stocks to watchout for :
Few weeks back had writen about punj lloyd and Bank of Baroda showing weak signs and have then corrected 20 -25 % .... Link for ref
Punj lloyd seems to have come to good levels arnd 220-230 can buy with 210 stop for medium term . Its a tech calll !

RPL has bounced strongly from the support zone of 155-160 to 170 levels in the day itself. Remain invested for short term tgt 178 and medium term 200. Keep trailing

Sugar stocks have sustained in the current fall and seem to be gaining strength but highly volatile . Some how it seems the sector is shaping up well for the long term so can keep buying small qty on dips in Renuka , Balrampur . Even Praj Inds 170 is crucial level if holds can bounce to 190.

Few years back in Sept , 2005 we had come out with the presentation around 8000 index titled " Post 8000 BOOM or DOOM ???? " with the projection of 25k , 45k and 77k by the year 2018 when many were thinking of the end of the story while we were of the view it was the beginning rather then the end ! . We have seen markets jump upto 21k till 2008 in the first phase of the 13 yr cycle discussed. For in depth details check ....

CLICK HERE Or paste the below URL in the address bar.

In continuation of the earlier projection have made another presentation " KAL AAJ ........aur KAL ????" now in June 2008 with a brief view of further time projection, retracements possible but the long term target projections remain the same.

CLICK HERE Or paste the below URL in the address bar

Go through both the presentations !!!

Comments are invited on the above views and if u like the stuff pass it around so more people can comment on the same . As there are much more aspects which can be considered and few of our technical observations and conclusions have been put up and some more will be seen regularly in coming days on the blog.

For exclusive recommendations and technical analysis course . mail to Nooresh 09819225396

Best Regards,

Happy Investing



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