Keep booking profits and be disciplined irrespective of Euphoria around.
Sensex Technical View :
Sensex surprises big time
and has done our tgts of 12900/14500 (almost done tom ) which was
supposed to be a 10-14 mths or earlier but not 2 months.
Technically
the entire retracement levels of the last fall from 21200 to 7700 comes
to 14500/16k corresponding to 50/61.8% fibonacci levels. So ideally one
would expect a major top for short term be seen in this zone.Previous
top of the last leg comes to around 15580.
Similar
levels for Nifty comes to 4650 prev top and 4800 as 61.8% retracement.
Taking into account these levels we would expect a maximum cap for the
rally at 15.5k-16k and 4650/4800.
Investors
should be highly cautious and book out of large caps and over run
stocks at least to the extent of 50-60% when index starts moving above
14700Sensex /4500 Nifty or even earlier.
The
next round of opportunity lies in the MID CAP AND SMALL CAP SEGMENT as
the broader market has still not rallied enough or participated .
Many
stocks discussed here have moved up considerably continue to be
disciplined and book profits on 25% gains to reduce avg cost for long
term holding.
Stocks to watchout for :
Investors
can look to enter following stocks which have not participated in the
rally by shifting from ove run stocks. Will look for short term picks
after stability this week.
Dishman Pharma
Aurion Pro ( lil risky )
IFGL refractories
Patel Int logistics /Kirloskar Oil
Agro Tech Foods.
Time Techno.
Do your own research before selecting the stocks.Partial around 30-40% can be taken at current price and then add on dips.
Mail to noorrock2002@gmail.com to arrange a session in your city.
Best Regards,
Nooresh
09819225396 ( aftr mkt hours )
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