Technical View – Coal India
- > There has been a lot of action in PSU stocks. Coal India has been consolidating for quite some time.
- > The recent top is at 372. Couple of bottoms around 347-350.
-> Watching for a breakout above 370-375 to confirm a move towards 420.
Some Thoughts
Nifty has touched 8000 and there are still a lot of non believers.
In the last 1 year Nifty is up 50-55% and suddenly you will see a lot of brokers/ advisors and analysts pitching their products and also using “Maine Bola Tha”. The best way to test is how many of these were bullish pre elections or before it.
We have reduced the no of stock ideas being posted on the blog as in a bull market people tend to chase a lot of stocks without any strategy.
Also quite a few trading picks cannot be discussed as they get covered in our recommendations and we are quick to get out on the way down and follow a diversified approach. Apart from that the our investment/trading activity has increased too much with such a raring bull market which we believed in 🙂 Do check our Indian Elections report.
Will again start posting picks as and when we see a timewise/price wise correction.
Continue to maintain the long term view on Indian Markets and to increase equity as a percentage of net worth. Focus on midcaps.
Few investment picks which we like and can be added if they fall by 10-15% on dips. Recommended at much lower levels to advisory clients ( Big Value 2 ). One can look to buy in parts with a view of 1 yr +. Our buy area mentioned.
NESCO ( 1100-1150 ) , NIIT Limited ( 42-46 ) and HCL Infosys ( 65-70 ) .
Nooresh Merani
www.analyseindia.com
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