Sensex Technical View:
Although Sensex has marched beyond the resistance levels of 17250/17400 there is a possibility that a pause could come in near term or at least focus should now shift to specific stocks.
We booked out of Index futures at 5150 odd levels itself 🙂 though it might be early but we aint interested in catching exact tops 🙂
Have been a little busy with work and taking some rest so could not put up a review of Sensex and Global Indices as suggested in June 2nd week.
Would put the update in a few quick lines.
By June 2nd week the target of 17k + and roughly 17250 was done which is a clean 1000-1200 points from bottom. For now the Sensex is moving exactly as expected the next dip should ideally be above 16500. This could ideally open upsides to even 18400 but needs to be looked into detail so will cover it later.
Dow Jones and European indices did a re-test of bottoms and are in a strong bounce but still have retraced only 38% of the fall which indicates global scenario would remain positive.
Time to be stock specific and stocks recommended in the report will be reviewed later.
Just a quick chart. Hope to be able to make a detailed report in the week. ( It takes time to explain it in a simple,logical manner which can be used as a profitable guide)
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June 16, 2010
Nooresh bhai,
excellent view and great help for all of us..
BOC India is zooming…..what is the target??
Thanks!
June 16, 2010
Hi Mihir,
Adviced booking fully in BOC at 300.
Regards,
Nooresh
June 16, 2010
HI NOORESH SIR,
check MTNL DAILY BASIS RSI & MACD BULLISH CAN WE BUY HERE @ 56
ALSO check TNPL(tamilnadu newsprint) NEAR 110 CHECK WEEKLY CHART “ASCENDING TRIANGLE.
THANKS & REGARDS,
HE$H…
June 16, 2010
Hi hesh,
MTNL looked bullish but was quick to move. TNPL is nice.
Tata Communication also similar to MTNL
June 16, 2010
Nooresh bhai –
Thanks again for your advices..
I have one q regarding reliance power…on the verge of break out… can i buy now?
also view about KPIT
can I buy more now? any target in mind.
Thanks!
June 17, 2010
Hi Mihir,
Somehow its a breakout Rpower but i would avoid it 🙂
KPIT is a buy only on dips. Hold on.
Regards,
Nooresh
June 16, 2010
sir.
do you think that 13000-14000 index is possible as some analysts are suggesting in this year ( their basis is elliot wave theory ) according to which C wave is pending?
June 17, 2010
Hi Puneet,
There are hardly any Elliot Wave analysts who can command a bit of respect apart from Vivek Patil.
For my view the Elliot Wave patterns there is no big trigger till we dont fall below 15600.
Also for the C wave there is no confirmation of a B top made ! Hypothetically the B wave can even go to 20k.
Regards,
Nooresh
June 16, 2010
hello nooresh
any idea on the following stocks? im holding a decent number of shares in each one of them
zfsteering gears holding from jan at same market price it is today
ador fontech
basf india
ur view on them will be appretiated
June 17, 2010
Hi Adit,
All the three are excellent bets for medium to long term. I would advise to hold.
Regards,
Nooresh
June 17, 2010
i got more than 2 million rupees on those 3 stocks what does the near term out look looks like
pls reply
June 19, 2010
Hi Adit,
You have got money put in the right places which are good safe bets
June 16, 2010
Sir what about EXIDE trading near resistance, do u think it will break it in a day or two as today volume was very big. If it breaks then what will be the target & Stop loss for it. Kindly give me levels for it.
Regards
Amit
June 17, 2010
Hi Amit,
I have been tracking the stock. Its a first hit on the 130 barrier. Possibly the stock may cross it and dip that would be a time to buy it.
Regards,
Nooresh
June 16, 2010
sir,
Ur analysis and Prediction is really great, and it is very help full to investers like me.
Let me now ur view abt days ahead, is it time to stay invested or book profit
or time to buy put options
regards
Sivaprakash
June 17, 2010
Hi Siva,
Thanks for the appreciation. Good to know you are using the analysis profitably.
For now its a time to book part of the profits.
Regards,
Nooresh
June 16, 2010
Heard from the street – rnrl likely to be delisted at 110/-. Pls check ur sources ..
June 17, 2010
Hi Himanshu,
Sometimes its better to keep ears closed:)
Regards,
Nooresh
June 16, 2010
Nooresh, ur views on Sudarshan Chemicals pls
June 17, 2010
No Idea
June 16, 2010
dear
Nooersh sir
hw is ur health nw.
can u give ur recommendations for 2 scipts
1}Elecon engg.
2}Astec life science.
mo:9892045509
June 17, 2010
Hi Jayant,
Yes am pretty fine now 🙂 blog would be full of updates from next week.
1) Elecon Engg an excellent stock for long term at current levels
2) Astec Life sciences good high risk bet at 50-55
Regards,
Nooresh
June 16, 2010
Hi Nooresh,
First of all many congratulations on your superb analysis and ever increasing fan base. Though I’ve signed up for your sms service, I hardly get time to be actively involved in market watch. Do you also offer any portfolio management services? Or do you have any non-intraday services… probably for medium-long term investors??
Please share your views on ICICI Bank. Today it zoomed up and is looking good to break Rs. 900 mark pretty soon.
Cheers,
Puneet Khandelwal
June 17, 2010
Hi Puneet,
Thanks for the kind words.
We do have a Delivery Gains scheme which looks only into medium to long term targetted to people who cannot look into day to day market prices.
ICICI Bank will take time to do so.
Regards,
Nooresh
June 17, 2010
Puneet have a look on this link https://nooreshtech.co.in/services