Long Term Charts–Axis Bank, Ashok Leyland, Bharat Forge, United Spirits & Sun Pharma .

Scanning through the FNO space and stocks which are showing possibilities of a long term breakout and leadership change.

 

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Axis Bank

  • At least 6 attempts done at the 820 band.
  • Strong base made at 620-650.
  • Expect it to be the new leader in the Banking Space. ( covered in our Banking Report in June )
  • 750-770 support. Big breakout above 820-840.

 

Axis Bank new !

 

Ashok Leyland

  • Resistances at 143 and 155 taken out.
  • Test of 170 done.
  • Now can breakout into all time highs.
  • Supports at 145-155.

Ashok Leyland leader

 

Bharat Forge

  • Still far away from the breakout but a good base done.
  • Big breakout above 800-850.
  • 2015 highs at 680. An underperformer.
  • 700-740 good support.

 

Bharat Forge

 

United Spirits.

  • Lots of expectations over the years but barely any returns from 2015.
  • Finally the breakout of 750 done and retest also done.
  • Now setting up for a move back to ATH
  • A good long term consumption story ?

United Spirits Leader

 

Sun Pharma

  • The best performer in 2012-2015 in the Pharma rally.
  • 950 a major resistance from 2015.
  • 2 attempts at 950 done in this year.
  • Can it breakout above 950 ?

Sun Pharma leader

 

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