Sensex Technical View :
The move today has simplified short term traders decision making process. Holding 14700 clearly indicates that one should keep index positions with that stoploss. We had similar tops around 15550 makes it clear that further momentum could be seen above that level.
So what do we do-- Nuthin on index focus on STOCKS - Broader market will be very exciting.
Stocks to watchout for :
IOC steadily going up ( Client reco at 565 )
ONGC hold for short term. GSPL rocking.
IFCI
Chart posted below plz check
If stays above 54 expect a tgt of 57.5/60/65 in extreme short term.
Disclosure ( Recommended to clients at 49.3 )
Rolta
After giving a false move yesterday because of index crack the stock has pulled back above 165. Sustained trading above 168 should take the stock to 180-190.
Uflex inds has given a small breakout and maybe headed to 90/98. Hold
Hikal Limited , ION Exchange,Bombay burmah ( tea story ) and ITD cementation look good for medium term investors. Liquidity a concern though.
YUKEN india has given a breakout buy on declines to 75 tgt 90/100. Do ur own research
Tata Elexsi should catch momentum as all midcap IT stocks have. Above 176 expect a quick move to 190+.
TECHNICAL ANALYSIS SESSION
MUMBAIAUGUST 29-30
( No requirement of any technical knowledge, learn simple practical technical analysis which works )
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BEst regards,
Nooresh 09819225396 ( after market hours )
