Sensex Technical View :
Sensex as had been indicated on last friday about a possibility of Sensex opening up to 15500, Dow Jones 9100 and Hang Seng 19k we might possibly on this upmove which may slowly inch up to target levels.
Sensex resistance levels are 14900/15500/16200. Where does it top out is a difficult question but as i always Its not Over till its Over. So continue to maintain long bias in extreme short term with trailing stoplosses to ride stock specific gains.
Continue to be long but cautious with news based /source based etc etc picks and keep strict trailing stoplosses to ride the positions as stock specific momentum may continue.
We may look into top confirmation in next 2-8 weeks as and when we start seeing distributive indications on the index and specific stocks.
Stocks to watchout for :
NTPC , Bombay Dyeing, Indian Hotels , Guj Alkalies
Suzlon shoots to 115 ( Disclosure Client call initiated at 95 still holding part of the qty )
ETC and Dalmia Cements do more their 15% move . ( Disclosure Dalmia Cements at 122 )
EDUCOMP , ROLTA,Pantaloon.Praj Inds looks good for lion hearted day traders with a stop of 3% frm cmp.
RCOM above 334 , GAIL above 318,TAta Motors above 355 could see buying momentum for a quick 5-8% move. Day traders keep a watch.
Lot of my trades are initiated in the day so cant give much of exact levels for day trades.
Short term mid cap trades : Stop of 5% tgt 15%
TECHNICAL ANALYSIS SESSION
MUMBAI --- JUNE 6-7
DELHI --- JUNE 20-21
Interested people CALL - 0981922539 Nooresh for more details/queries /confirmations and more. ( aftr mkt hours ).