We are seeing the darlngs of 2006-2007 and most hated stocks of 2008-2012 to be making a major come back.
The two stocks which have confirmed such breakouts are Indiabulls Financial Services and Reliance Capital.
Both can surprise with 20% upside. But with the volatility one may need deeper stoplosses.
Indiabulls breaking out of a 2-3 yr channel. An optimistic target could even be a double from here but one can keep a conservative target of 400.
Reliance Capital has also confirmed a cup and handle breakout which gives us a minimum target of 600-650.
Do note that both the stocks are high beta and may need deeper stoplosses and bigger targets. So do your risk management.
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January 2, 2013
Nooresh ji,
Does Sintex qualify for cup and handle pattern on daily chart ?
January 4, 2013
Sustaining 68-70 can give a smart jump. Just that last time the attempt did not last but expecting it to do good. Pattern looks more like a small range breakout.