Sensex Technical View :
Finally it seems Sensex would breakout above the 15100 zone and take a shot at the 15800 which is the outer extent of the bounce we are looking at.
As was presented in previous charts that the time analysis suggests that on holding 13500 the markets could take a short at 15800 which is 61 % correction of the downfall.
Check charts in previous posts ..
https://nooreshtech.blogspot.com/2008/07/sensex-time-analysis-crude-121-123-dow.html
Crude : Suddenly all the bullish views on crude of 150-170-200 have subsided and is now at 118 !!! Just see the clear views in the charts :
Stocks to watchout for :
After a very long time i have had more then 10 open calls in particular stocks for clients !!! which people might find it unusual with so much of negativity around how come so many buy calls for short term . Well the reason is technically lot of the stocks looked technically strong in last few days !!! So fundamentals would support the move and crude , Dow should give a good gap up to these stocks .......
Calls initiated in last few days to clients will be posted in a different post !
Indus Ind , Century , Welspun all inched up smartly and shud do tgts soon.GHCL risky bet . Indsil hold for long term .DLF zooms.
Hind construction , Hotel Leela above 34.5 , HDIL above 530 could give strong moves of 10-15 % .
India Infoline , Edelweiss Sec ( disclosure -- btst reco at 625 to clients) look set for a good bounce as they have not performed in the current run ... Technically a move of 10-20 % on cards.
Some Thoughts :
Suddenly all the negative views have gone away , analyst talking about 10k are hiding ! etc etc . But lot many of the people stuck at higher levels may not have been able to buy at 14100/13500/12500 zones selectively as they must have not exitted at 17k levels when suggested and i doubt if all of the people had cash to buy ! .... And those who followed our disciplined approach are now reaping the beneifits of it.
Our view at 17k-16k was a possible correction and possible tgts 14700 and 12500 . And at 14200 or lower the view was to buy selectively ! just for example favourites like SBI , RCAP in large caps are up 50 % % from the lows so it depends on what u buy ....
No bragging about the views but would suggest do adequate research and homework before investing in markets and be disciplined in your approach and markets could be a much better place to do business for you.
There are two ways to go about it ! Either you do the research and take the efforts or take services of professionals as a guidance. So decide for yourself how u would like to go about it as people dont mind losing helll lot of money but wont spend some money on good books or advisory services !
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Best Regards,
Nooresh 09819225396
