Sensex defies all tech targets with momentum backed by liquidity of FIIs. Funds flow is like Niagara and there is no let up. The next technical tops are 19450+ and then 22,370+. But this run away speed is very dangerous. The best strategy is to book profits now and ride the momentum for the balance with trailing stop loss.
In our view this is the ideal time to get rid of all the sucker and lagard stocks and balance your portfolio. Now the TIPs season will start and all the unknown stocks will be on the list. Keep away from such tips because even the panwalas will start advising on which stock to buy.
TOP TECHNICAL PICKS
SURANAIND
IGS
JINDALSTEL
GMDCLTD
TORNTPOWER
JAICORPLTD
RIIL
STCINDIA
MLL
INDIANHUME
TATASPONGE
PATELENG
NBVENTURES
SUPREMEIN
HDIL
PERFORMANCE
GMDCLTD 20% CCT
JINDALSTEL 10.52%
MLL 7.96%
JAICORPLTD 5% CCT
RIIL 5% CCT
STCINDIA 5% CCT
BHEL 3.99%
RCOM 2.43%
HDIL -0.89%
GARWALLROP -1.55%
TATASPONGE -3.26%
NBVENTURES -3.64%
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Indian Stocks and Indices - Technical Analysis using Elliott Wave Principles. May be used for academic purpose only. Twitter handle @stocktechy
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