In my last update on friday afternoon this was mentioned
So till we dont break 19800-19750 on daily basis we can possibly see a bounce.
Sensex Technical View:
Sensex has made a low of 19769 and has since bounced back 500 points from the lows giving a scare to lot of traders. What is clear in the near term is we have had a lot of bottoms around the 19800 mark so till we stay above those levels a short to 20800-21000 is possible again and the range being maintained.
Currently one needs to be stock specific in this range.
One of the interesting things that happened last week was pure drama where on expiry day we saw a sharp drop and a 80 point premium on Nifty Futures followed by which we saw a dip next day to new lows for the last 2 weeks and a total recovery and a spike of 300 points today.
Just a fictional description would be Traders were forced to rollover their longs at a huge cost and next day markets cracked which hit lots of stoplosses clearing out the weak hands. Once the weak hands were out markets jumped 500 points in next 2 sessions !!
This same thing can be explained in different manners with different statistics favoring bulls or bears 🙂 but the simpler thing is 19750-19800 was a strong support and markets bounced from the same:)
Stocks to watchout for :
Jet Airways – A good candidate for a 50-100 point directional move on either side in next 3 weeks. Wait and watch closely for traders.
Eimco Elecon- The stock deserves a fundamental study so would invite readers to help me on the same:) Technically sustaining above 340 with volumes could take the stock to 450 levels.
MTNL – ( Mera Telephone Nahi Lagta ) pun intended ) -
The stock has remained in a downtrend and weak for a long time but the current consolidation suggests there could be a possibility of a move to 80 levels in near term if stays abobve 71-72.
Tower Talk:
Sugar stocks the worst might be over and expect some favorable announcement in near term for the sector.
Telecom stocks like MTNL bharti and rcom look set for a quick 5-10% spike.
Piramal Healthcare came out with an announcement which was not favorable but could be a good buy below 470-475 till 450 as a special situation as well as long term.
TECHNICAL ANALYSIS TRAINING SESSION
MANGALORE NOVEMBER 13-14
AHMEDABAD NOVEMBER 20-21
Regards,
Nooresh
November 2, 2010
Please provide good calls..Good calls are not coming now 🙁
November 3, 2010
Well rajesh , try some other blog if u don’t like the calls of nooresh …. or giv 2.5 Lakhs to anirudh sethi & enjoy good calls brother 🙂
November 3, 2010
Hi Himanshu,
Well reviews from clients are good enough 🙂 with some nice trades recently. Mr Rajesh is just a bit in a hurry to make quick money 🙂 … Anirudh Sethi i wud reserve my comments 😛
November 3, 2010
Himanshu,
did you gave 2.5 lacs to sethi ? Please help me understand you and your geniusness
rajesh
November 3, 2010
Rajesh
if i had dat much money to distribute ….. i won’t hav been wasting my time here , suggesting you diff options
November 2, 2010
pls provide good calls. Calls r not gud these days
November 2, 2010
Hi Rajesh,
I think you need to read more and follow.
Also not all the advisory calls can be discussed on the free blog. For example Tata Elexsi was picked at 295 does 325 in the day
November 2, 2010
Eimco Elecon (India) Ltd Blasted 15% today. 🙂
November 3, 2010
Hi Bhanu,
Yes a good move 🙂 and more toc ome
November 2, 2010
Hello Nooresh,
Why Powergrid is coming down steadily? I have 400 at an average price of 110.. Is this just because of the forthcoming FPO? If so, what would be the good price for averaging?
November 2, 2010
Hi Arun ,
For me it was a technical trade where we got a 2% hit.
November 2, 2010
Please can you advice on Patel Engineering at current levels?
Thanks.
November 2, 2010
Hi Raj,
I am not tracking the same.
November 2, 2010
Dear Nooresh,
I am a regular visitor of your site. I have invested in NMDC, RNRL, Punjlloyd and Bartronics. My present losses in these scrips are 49%, 38%, 23% and 22% respectively. Can you please advise what to do with these. Should I book my losses or wait for them to break even.
November 2, 2010
Hi Brajesh,
I would suggest to hold on to NMDC, Punj Lloyd and exit the rest and shift the same to these two stocks.
November 2, 2010
Nooresh,
My friend he is a paid subscriber to u and he only recommened me. he is also not happy ..lot of stocks are skyrocketing like ICICI BANK, ABG, OBC etc and you dont give any recommendation.
Thnx
Rajesh.
November 3, 2010
Hi Rajesh,
Just because some stocks have moved doesnt mean i should be recommending them 🙂 … Btw we got quite a few 10% moves
November 2, 2010
Sir I am holding Mcnally Bharat Engineering from a long time. I thoght it is a very good company in the engineering space. It went upto 300 levels. But all of a sudden it started coming back and day by day it is coming below. Should i hold on to it?? Is there anything wrong happening in the company??? Please suggest
November 2, 2010
Sir,
i also hold MBECL bot at 296. pleae tell me if i can hold or exit. Today Tata elxsi rocked and i was able to catch it at 299, and i booked full proift. can i buy for long term ? please advise.
thanks
November 3, 2010
Hi Jayanthi,
I dont track the stock
November 2, 2010
Nooreshbhai,
I respect u a lot.
Are you missing one important point.Is something big happening across the globe .
Dow just touched 62 % retracement level 11200-300. same with Hang Seng 23800-23900.
Icici 62% , Ril 62% , Sbi 1.38%
By the way R.N.Elliot was Genius not idiot.
If he was idiot . How we missed him in movie 3 idiots.
Regards and Love.
November 3, 2010
Hi Parag,
I am not Elliot Wave fan and would never be although i would suggest you to look into my Elliot Wave view at 9700 when majority of the so called Ellioticians were bearish
https://nooreshtech.co.in/2009/04/sensex-elliot-wave-perspective-in.html
Also regarding Dow Jones 61.8% i had mentioned about a dip in the offing few months back at 10800 – https://nooreshtech.co.in/2010/04/dow-jones-should-pause-at-11200-crude-slipping-from-trendline-resistance.html
Hope once you read the link u will know more.
Also please go through some posts on Dow and Hang Seng posted some time back
November 3, 2010
air,
Kindly let me know ur view about SELAN EXPLORATION, PATEL ENGG
can i buy them with one year view ?
regards
Anjali
November 3, 2010
Hi Anjali,
I like Selan more at current levels
November 3, 2010
hEY
aNY CHART CHECK ON RELMEDIA…
November 3, 2010
Hi Atul,
The moves are very speculative on Rel Media. I am a pretty conservative person for that stock 🙂 … btw last time it did 30% it was initiated in our day call.
November 3, 2010
Shams, Nooresh and All
Wish you a very happy Dhanteras and Happy Diwali.
I believe the fifh upside move has just begun , we have lots of upside to go…so its buy buy abd buy…we have ended 4th wave correction..This will be the most ferrocious move…
Let us see , what’s in store.
Regards
Nirmal.
November 3, 2010
Hi Nirmal,
I wont comment on the wave structures but my view is clearly posted in the presentations 🙂
November 5, 2010
hallo sir,,,
i am long visitor for your site, and your view, today i am thinking , AS customer,
plz provide me your all product details information ( charges, service, etc )
mohanjamkhedkar@gmail.com
mo-8956738338
November 5, 2010
Hi Mohan,
You can click on the advisory link for full details.
November 5, 2010
I AM HOLDING SHARES OF WESTERN INDIA SHIPYARD 2500 @17 WHAT TARGET CAN WE EXPECT IN NEAR TERM
November 5, 2010
HI NOORESH
I AM HOLDING SHARES OF WESTERN INDIA SHIPYARD 2500 @17 WHAT TARGET CAN WE EXPECT IN NEAR TERM.
WHEN CAN WE RE ENTER IN BENGAL ASSAM
November 5, 2010
Hi Praveen,
One should look to reduce at 18-20 levels. Buy arnd 14-15.
Bengal And Assam below 370 till 300 should be accumulated