1 / 18

Nooresh Merani analyseindia nooreshtech.co

Sensex Technical View –Short Term Bottom in Sight and Bounce on Cards. Nooresh Merani www.analyseindia.com www.nooreshtech.co.in. Inverted Head and Shoulders support at 15600. Sensex – Inverted Head and Shoulders Neckline at 15600. 15600 ( + - 200 points a medium term bottom ).

leoma
Download Presentation

Nooresh Merani analyseindia nooreshtech.co

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Sensex Technical View –Short Term Bottom in Sight and Bounce on Cards. NooreshMerani www.analyseindia.comwww.nooreshtech.co.in

  2. Inverted Head and Shoulders support at 15600.

  3. Sensex – Inverted Head and Shoulders Neckline at 15600 15600 ( + - 200 points a medium term bottom ) Inverted Head and Shoulders

  4. Technical Downside Targets almost close.

  5. Sensex – An old chart of 17 August on the website suggesting a slide to 15500 possible

  6. Sensex – An old chart of 17 August suggesting a slide to 15500 possible

  7. Parallel Channel Support at 15500-15800.

  8. Parallel Channel Target/Support at 15500-15800

  9. Head and Shoulders Target Done

  10. Shoulder Target done for a irregular Head and Shoulders Pattern Shoulder Size Done- Expect some pullback now

  11. Head and Shoulders Target Done

  12. RSI Positive – Can it Do a quick pullback like last time Index new lows but RSI Higher – Good Positive Divergence Follow up Price action needed

  13. RSI – Now at October 2008 levels.

  14. Strategy • Strong Supports placed at 15600 ( + - 200 )on various parameters • Investment buying or even Averaging can be initiated from current levels and one can scale up their positions on every dip. • 3) Risk-Reward Ratio is now in favourof long positions and traders with good risk appetite may go long at current levels with a stoploss at 15400 closing basis. • 4) Traders may watch a move above 16250 as a price action confirmation. • 5) Also one should keep booking partial profit on rise to 16800-17300 or on stock specific bounces • 6) Don’t buy stocks only because they are down 50-70% from peak but go for quality stocks. Analyse India

  15. STRATEGY • Strong Supports placed at 15600 ( + - 200 )on various parameters • Investment buying or even Averaging can be initiated from current levels and one can scale up their positions on every dip. • 3) Risk-Reward Ratio is now in favour of long positions and traders with good risk appetite may go long at current levels with a stoploss at 15400 closing basis. • 4) Traders may watch a move above 16250 as a price action confirmation. • 5) Also one should keep booking partial profit on rise to 16800-17300 or on stock specific bounces. • 6) Don’t buy stocks only because they are down 50-70% from peak but go for quality stocks.

  16. STOCKS TO WATCHOUT FOR • SBI is almost close to 61.8% retracement of the total rally from 2009 to 2011 looks set for a bounce to 2050/2200. • Hindustan Unilever around 300-305, Bajaj Auto at 1450-1500, HDFC Bank at 440/410, Tata Motors at 680/620, Mahindra & Mahindra at 650-700 are best bets in the index. • Godrej Inds, GMDC, Tata Global Beverages, Aditya Birla Nuvo, Atul Limited, GSFC, Timken India, Wockhardt Limited, Navneet,Berger Paints, Asahi Songwon, Hinduja Ventures, Smartlink are midcap stocks in our radar for accumulation with short to medium term view at current levels and are well placed fundamentally. Investors can look to buy into the above stocks with a short term perspective also. • For more of our daily views on equities/commodities/Global Indices and more keep reading our regular posts on www.nooreshtech.co.in and www.analyseindia.com

  17. THANK YOU Analyse India ww.analyseindia.com www.nooreshtech.co.in For about our services like Advisory and Training in Technical Analysis mail us on analyseindia@analyseindia.com Call Kazim : 09821237002 Asif 09833666151

More Related