NIFTY – Time to watchout for positive divergences.

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


  1. ZAR
    March 20, 2013

    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.

    1. Nooresh
      March 25, 2013

      Have concerns on the stock

  2. jagannathan
    April 5, 2013

    As suggested by you on 19th march today nifty has almost reached 5550.Can we initiate trade by purchasing nifty?

    1. Nooresh
      April 5, 2013

      Yes with stoploss at 5530 on closing basis

  3. Vetrichelvan
    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.

  4. Vipul
    May 2, 2013

    Nooresh – Fantastic call.. Many congratulations.

    1. Nooresh
      May 4, 2013

      Thanks for the kind words

  5. Normand
    June 13, 2013

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    When I look at your website in Ie, it looks fine but when opening in Internet Explorer, it has
    some overlapping. I just wanted to give you a quick heads up!
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