14700-14800 level to watch !

Sensex Technical View :
Sensex has bounced back from the 50 % retracement and domestic cues like inflation , gdp gave a much more bigger bounce in the day . Still the index continues to remain in the tight range of 14000 -14800 . Technically a good close above 14800 for 2-3 sessions should take a shot at 15500 which is the previous top. On the lower side 14k and 13700 needs to be watched till then be stock specific and patient.

Market Observations and Thoughts :
GDP gives another add on to the inflation nos and mkts jumped up with lot of stbt guys hit hard n dats why its better to let a clear trend emerge then keep scavenging some points here n there n lose out one damn day.

Lot of insider buying has been in small cap stocks where promoters have increased stake slowly !! i would consider this to be a better signal then BUYBACKs . MAn Inds , Sita Shree , BSEL infra etc etc do a lil research out here.

Crude may see a pull up with some hurricane threats and this could impact cues in short term.


One interesting co . book value very high. decent fundamentals . Issued at 84 to shareholders ???? CHECK BSE announcement . at 12-13 bucks it seems a good buy for medium term but investors do their own research as stock can move wildly.

Stocks to watchout for :

Stocks to watchout for :
SAIL has given a breakout and sustaining 155 shud tgt 170.

TITAN is shaping up nicely and steady closing above 1300-1340 could lead to 1500 + .

Moser Baer is a strong bounce candidate with almost triple bottom arnd 88 levels . 105-108 is a resistance which it could hit buy on dips or momentum above 108.

People interested in joining the technical analysis course in Mumbai or other cities can mail the details to noorrock2002@gmail.com or call 09819225396 for queries . A session planned for Sept 2nd week -3rd week in Mumbai tentatively . Plan to conduct one in bangalore if we get adequate no of interested people.



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Analyse India


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