Index near previous Highs — Broader market still lagging !

Sensex Technical View :

The view remains

Sustaining above the 61% retracement level for last few days indicates good strength. Ideally the index should even try the upper end of the channel which could be closer to 18k but first some pause shud come around the previous top of 17700.

As of now stock specific moves would be more dominant.


If one sees BSE small cap or BSE midcap index they are both lagging in the current pullback in Sensex. So although the index may seem to be comfortable or overbought for some people the broader market still needs to catch up.

Such a period makes trading diffcult with many whipsaws or false moves. Difficult to detect a false move but one can now continue to reduce volumes for short term trades. Investors need not worry.

Keep strict stoplosses or avoid trading if you cannot take stoploss hits as the ratio of misses increases in such periods.

Stocks to watchout for :

Bharti Airtel can touch 315-325 on crossing 305 mark.

Shipping stocks should be in limelight with the recent move in Baltic Dry Index..... GE shipping a good bet on declines.

Prakash Inds remains a good bet on declines to 200-210 provided one is ready to add more if dips more.

Investors looking for defensive bets to conserve gains should look into Aventis Pharma , Apollo Hospitals with 1 yr view. 


CHENNAI - March 27-28

 Interested people call Nooresh 09819225396 for details/confirmations or mail to

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