Sensex nearing huge resistances – Book Profits/Stay on sidelines/Be Selective


Sensex Technical View:


The last time we fell to 17800 had a view to buy selectively.

Recently at 17500-17300 we mentioned the view to be on the buying side as markets were highly oversold and sharp Check Link here


All the stocks mentioned have performed well apart from BOC India which is at the same price. First Leasing gave a 20% jump being a defensive 🙂


Also later we mentioned some of the trading bets -


Lnt, Hdfc Bank , Lic Housing, Yes Bank and Bajaj Auto which gave good 5% pop up trades.


Recently we had put a post on our Strong Technical Picks recommended to clients

Colgate 920 to 1000

VSt Inds 945 to 1030

Godrej Inds 205-207 to 214

Pidilite Inds 165 to 168


All the stocks have been performing superbly.Book profits on colgate and VST Inds partial on Godrej. Pidilite and Godrej Inds continue to look good for short to medium term.


Investors should continue to look for midcaps/smallcaps over the next few months as this is a good time to look for investment picks. Some of the stocks in radar like VST inds, Godfrey Philips did not give time to accumulate enough.


TechnoFab Engg, Tecpro systems , Smartlink, Sterlite Tech, Garware Wall rope , Gillete India, Glaxo pharma look interesting. Views invited from the readers.






  1. meetesh
    July 1, 2011

    Dear Nooresh,
    Look at Marg ltd. A beaten down infra stock but is into ports which is a stable revenue generator. Also capacity of the port is to be enhanced sharply in the next few years.

    A small cap stock which seems to be seeing huge accumulation is rathi steel. Price is Rs 13. EPS of 4 T.L of 850 cr and Mkt cap of just 40 cr. In the year 2005 it had gone up from 28 to 250 in a single year. Also promoters have increased stake in the recent past and have taken pref issue around 22

    Looking forward to your views as well

  2. meetesh
    July 8, 2011

    Dear Nooresh,

    Awaiting your views on the above 2 stocks

    1. nooresh
      July 11, 2011

      hi meetesh,

      Marg ltd i think the concern is it is a bit over-owned and let the selling get over.

      Rathi Steel the mgmt reviews from people are a bit dodgy


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