Special Report – Long Term Technical Breakouts – Century Textiles, Dr Reddys , Hindustan Zinc, Jaiprakash Associates, Mcleod Russel and Raymond

This is a special report which was sent to our Advisory clients ( for our services check www.analyseindia.com ) on 29 November. Some stocks have already broken out post the report and some are left.

 

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In the report below Nooresh Merani is covering a few stocks which have broken out of 1-3 year range bound movements or about to breakout and can give an upside of 20-40% over the next 3-6 months or sooner also.

Any dips from current levels should be used to accumulate the stock.

Century Textiles

- The stock is forming a big inverted head and shoulder which has a breakout point at 400-410 levels.

- For the past few weeks the stock is consolidating at the resistance levels of 390-410.

- 390-410 is a good buying area with a stoploss of 375 and upside target of 500-550.

- Momentum can be seen above 410 levels and a small pause at 450.

Dr Reddys

- The stock has been forming a cup and handle of 250-400 points.

- The breakout point is 1820 levels on closing basis.

- One can accumulate the stock with a closing stoploss and a target price of 2000/2200.

Hindustan Zinc

- The stock is forming a 35 point triangle.

- Breakout point is above 145 giving an upside to 180.

- As of now its too early to call a breakout but one can take a pre-emptive buy with a stoploss of 128.

Jaiprakash Associates

- After making a lot of bottoming formation around 55-60 levels the stock is finally waiting to break out of Major Channel bound movements.

- 85-95 is a resistance area where stock is consolidating for last few weeks.

- Expect momentum to cacth up once it starts closing above 95-96 levels.

- Upside target of 120. Accumulate with a stoploss of 85.

Mcleod Russel

- The stock gave a cup and Handle breakout above 290 levels a couple of months back.

- Post that we did see the breakout levels to have been tested recently.

- The upside target would be 550 in long term. Stock may start the next leg of upmove in the next few weeks.

- Accumulate with a closing stoploss of 320 and upside target of 550 in long term.

Raymond

- A huge Cup and Handle with a minimum upside of 100 points or higher.

- Good volume based breakout indicates every dip from here should be a buying opportunity with a target price of 550 or higher in medium term.

- Stoploss to be kept at 405 levels.

 

TECHNICAL ANALYSIS TRAINING SESSION MUMBAI

DECEMBER 15-16   ( Re-scheduled )

To confirm your participation mail to analyseindia@analyseindia.com or call 09819225396 – Nooresh ,

N S Fidai   099201 20878 , Ankit Chaudhary  09899899989

We would soon be conducting sessions at Banglore and Delhi. Interested people may mail us onanalyseindia@analyseindia.com

If interested check the link below.

https://nooreshtech.co.in/2012/12/technical-analysis-training-session-mumbai-bangalore-delhi-and-other-cities.html

Regards,

Nooresh Merani