NSG boost !! Can it last ?…Some other trigger to boost ??

Sensex Technical View :

Gap ups - Gap downs are the characteristic of the Sensex currently and will continue to remain so and traders would need to wait for the right days to make a kill and then relax again. Sensex took a pullback exactly from 15100 odd which was the recent top. One gap filled at 14750 but another opened up at 14600 on downside ! . Technically the view remains the same as before.
As said before the corrective phase from 12500 should last around 50 sessions where in the range would be 13300( worst case ) /13700( ideal ) and 15500 ( ideal was said then too ) /15800/16400( optimistic ) on upside . We are just 15-20 sessions through so technically one can expect this range to remain !!!.

Market observations :
Buy on rumours Sell on News -- this principle will be followed forever in all markets and dats wat we saw today on global indices. But the developments dont die of so easily and impact keeps coming slowly in the long run.

One view from mkt ppl -- Suddenly all the factors for asian indices are turning around. Crude is down frm 145 to 105 , Inflation is almost near to peak, Govt steps , deals etc. Every where round the world is talking about a bear market but in such a scenario markets dont need much of an immediate reason to fall coz trend is wea . When markets start looking for reasons for falls in bear markets would simply mean ending days ! . Equities want crude to rise ! , Govt to waver , Deals to blow, banks to go bankrupt. Similarly vice versa works for bull markets dont reasons to move up but crude wants hurricanes , dollar etc !!!! ... Interesting view.

Crude is slowly drifting and make a lower low yet again today and the next level to watchout is 98-100 which is very important.

Stocks to watchout for :
Century Textiles is seeing good volumes and hasnt seen much of a bounce from lows. Above 510 could see a quick 10-15 % move.

Lakshmi Cotsyn ( 526049 ) is setting up for a possible breakout technically. Sustained closing above 115-117 could tgt 135-150 in medium term. Investors can also have a funda check done.

Some thought : Was just thinking of keeping a investor/trader meet in Mumbai for all readers/friends/investors etc where we may discuss about technicals , need of it , market view , investment and trading strategies etc. If people have some ideas or way to go about can mail to noorrock2002@gmail.com so we can plan something out.


SEPT 20-21

Interested people can get in touch for more information, confirmations and queries . Nooresh 09819225396 , noorrock2002@gmail.com .

Best Regards,



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