Thursday, 14 February 2013

Technical view by Nooresh

Technical view by Nooresh

BSE SMALL CAP INDEX down 14% from peak.

Posted: 14 Feb 2013 12:30 AM PST

 

This is just a quick update on what is happening in the markets.

 

BSE MIDCAP is down 10% from peak.

 

BSE SMALL CAP is doen 14% from peak.

 

BSE SENSEX and Nifty is down only 3-4% from peak levels.

 

The panic is in the midcaps and this is time to be patient and look for quality stocks and accumulate if one has long term view.

 

Expect Nifty to find support at 5830-5880 zone and the top 10-15 weights in Nifty remain fine only. A momentum trade can only be initiated above 5970-5990 spot levels. Last time our stops got hit on Nifty we may now wait for a crossover above last few days highs.

 

Disclosure: Looking at investment ideas/long trades and waiting for reversal confirmations and view remains very very positive till 5830 holds

 

Some punter stocks like TV 18 at 28 and 24 could be interesting with a 1 year view if one can digest a 20% cut.

 

Best Regards,

 

Nooresh Merani

Related posts:

  1. BSE MIDCAP and BSE SMALL CAP INDEX – Down 6-8% from peak and re-testing breakout zones. Short term bottom possible in next couple of sessions
  2. BSE SMALL CAP , BSE MID- CAP and SENSEX — Huge Underperformance
  3. Sensex, BSE Midcap , BSE Small Cap , Dollex 30 Technical Charts and Retracement Levels.

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