Long Consolidations – Will these stocks breakout ? Reliance Inds, Tata Global, Sun Pharma, Larsen and Toubro

23/9/2016 2.30 pm

Focusing on well discussed stocks and how they have consolidated for a really long time.

Recently every whatsapp group/household even my barber was talking about Reliance Jio.

Lets look at Reliance Inds Chart.

• 1150 a price point of last 6-7 years. Will it be able to cross this in the next 1 year ?
• 1100 a price resistance for short term has been crossed today.
• Would be interesting to see  !.

Sun Pharma

• After double bottoms at 710 in last 6 months and a higher bottom at 750 it looks like a bottoming out case.
• A confirmation of trend change comes above 820-850.
• Recent lows at 750 a stoploss. Good risk-reward if one is trying to pre-empt.

Larsen and Toubro

• Been sideways for the last 3-6 months after that massive move on results.
• Will break above 1600 or below 1400.
• If only A M Naik could guide us like he has done for L&T Housing Finance -

Tata Global Beverages

• One laggard stock where everyone has hopes for a really long time.
• Can it breakout above 145 and 150 in coming months.
• Lets c personally a bit hopeful here 🙂

Nooresh Merani

Securities covered above:: Reliance Inds, Tata Global, Sun Pharma, Larsen and Toubro

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Nooresh Merani and his family/associates/ analysts do have exposure in the securities mentioned in the above report/article.

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