Time to be Stock Specific. Sensex – Is it a false start or just the first attempt.


Sensex Technical view:


What seemed like a breakout a day back is now looking like a false start. But this move being the first hit on the trendline it would be too early to consider it a false start or a short term top.


Good supports are placed at 18600-18650 and 18000-18200 are fibonacci  retracements. But one thing seems to be clear index could head to 18000-18200 or 19600-19800 over the next 1 month or so.


Till the index remains in this range it would be a good time for stock specific trade.


Stocks to watchout for -

Divis Labs and Siemens looks good on dips for bounces.

Market rumours suggest good announcement on cards in JB Chemiclas. On the valuation front one can slowly buy at 135/120 zones.

Investors can look towards Asahi Songwon colors on declines to 108/95 with a long term view.







    July 11, 2011

    Sir, wt is ur outlook on Gujrat gas..is seems tht stock was in consolidation mode n now is ready for breakout…for medium to long term view it can give good retuns . plz suggest ur valueble view on it

    1. nooresh
      July 18, 2011

      Hi Nilesh,

      Guj Gas remains a strong buy

  2. RC
    July 12, 2011

    Hi Nooresh,

    Could you please share technical outlook on BASF?


    1. nooresh
      July 18, 2011

      No view on BASF tull the rumours settle down


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