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.
SICAGEN !!!
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.
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Nooresh
Analyse India
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