Thursday 24 January 2013

Technical view by Nooresh

Technical view by Nooresh

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

Posted: 23 Jan 2013 10:42 PM PST

BSEMIDCAP thumb 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

 

BseSmallcap thumb 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

 

In comparison to the current fall Nifty is almost 5% higher from the breakout point.

 

We can expect some short term bottom in the Midcap and Small Cap Indices. But some stocks may continue to remain in painful zone so one needs to be very particular on sticking to quality stocks.

 

Some stocks which we like in this dip are – Godrej Inds,Bombay Burmah, Raymond at 360-380

 

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Regards

Nooresh Merani

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Related posts:

  1. Defty – Nearing a breakout above 4000
  2. PTC India – Major Technical Breakout. Accumulate for a target of 90-95 in short to medium term.
  3. Tata Motors – Confirmation of Breakout above 285 can head to 300-320 in short term.

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