Every time Nifty has touched oversold levels since 4500 it has made similar lows or in the range + or – 100 points.
So in that case it should be 5550-5750 to be watched out for.
Mind you this can happen over 3-6 weeks.
Investors should now be looking towards strong accumulation in next 1-2 months with a view to only buy on dips.
This might be an opportunity similar to previous times and a reversal now will be above 5970. We will keep a watch.
Stocks to buy – ONGC at 280-300 , BPCL at 260-380 , CIpla at 360-380 and Reliance / MNM in large caps.
Best Regards,
Nooresh Merani
March 20, 2013
Hi,
Given the current market scenario what is your take on infra stocks like JMC. I have invested in it in 2010@ 200 average price and its a large quantity fairly larger than the current daily TTQ. I have been patient but the constant falling price has got me nervous what do you suggest.
Your input is always appreciated.
March 25, 2013
Have concerns on the stock
April 5, 2013
As suggested by you on 19th march today nifty has almost reached 5550.Can we initiate trade by purchasing nifty?
April 5, 2013
Yes with stoploss at 5530 on closing basis
April 9, 2013
What would be the expected target if we go long in NF now around 5560. RSI at 31, which I feel a very good level to enter for long.
May 2, 2013
Nooresh – Fantastic call.. Many congratulations.
May 4, 2013
Thanks for the kind words
June 13, 2013
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