Technical view by Nooresh |
| NIFTY – Time to watchout for positive divergences. Posted: 18 Mar 2013 11:25 PM PDT 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 Related posts:
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