Stock Picks

Breakout Charts

This post highlights stocks breaking out of their multi year range which can give good returns in the next 12 months. We shall keep updating this post routinely.
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6th June, 2014
TATA GLOBAL
Tata Global
On the weekly charts, Tata Global has given a breakout from the triangle pattern which lasted for more than a year. The text book target for this breakout works out to 215-220 levels. On our facebook page we had given a BUY recommendation at 164 levels on 6th June, 2014. Support exists at 155 levels. If the stock closes below 155, expect it to re enter it's side way move.

AEGISCHEM
AEGISCHEM
AEGIS Logistics Ltd was trading in a 100-210 range and now the stock has given a breakout above the 210 levels. Currently trading near 230-235 levels, the stock has a text book target of 300. Support for the stock is at 210.

COSMOFILMS
COSMOFILMS
Cosmo Films has created a double bottom formation on the weekly charts and has broken the previous top resistance at 65-66 levels closing the week at 73. BUY with SL at 65, TGT: 96-100 levels.

ESSAR OIL
ESSAR OIL
On the weekly charts, ESSAR OIL has created a double bottom formation and broken resistance at 96. The stock, currently near 100 levels can further rally towards 120 levels and this formation will complete at 150. Support for the stock exists at 90. Use this level as a stoploss for any trade taken.

EXIDE INDUSTRIES
EXIDE INDUSTRIES
On the monthly chart, EXIDE shows a breakout at 137 levels. The stock can head towards 190-200 levels in the coming sessions. Support for the stock is at 135. Currently near 146 levels, BUY with SL at 135 on closing basis for higher targets.

GIC HOUSING FINANCE
GICHFN
GIC Housing Finance has given a breakout at 150 levels. Currently trading at 170 levels, the stock can rally higher towards 250 levels in the medium term. Support exists at 140 and 150 levels.

GIPCL
GIPCL
BUY GIPCL at 96 levels, add on declines near 88, hold with SL at 82 for targets of 120-130 levels. The stock has formed a double bottom formation on the monthly charts and has given a breakout above 83 levels.

GINNIFLA
GINNIFILA
Buy GINNIFILA at 16, SL: 13, TGT: 22-25 levels.

IBREALEST
IBREALEST
India Bulls Real Estate has  given a breakout from it's 2 year range of 44-88 which gives the stock a text book target of 132. Currently trading at 106, BUY with SL at 90, TGT: 132+ levels.

RELIANCE INFRA
RELINACE INFRA
Reliance Infra looks set to rally towards 1000 levels. Support exists at 700.



1st June, 2014

ADOR WELDINGS
ADOR WELDINGS
Ador Weldings has given a breakout from the 150 zone on it's monthly charts. In the coming months, the stock can be heading towards 230-240 zone. If it manages to break and sustain above this zone, then expect it to touch 315 levels. Currently trading near 173 levels, add on dips if the stock drifts near 155-160 levels. For positional traders, 150 is a good support zone on the charts. The stock will lose steam if it closes below 150.

CENTRAL BANK OF INDIA
Central Bank of India
The above chart is the weekly chart of Central Bank of India. The stock, with a rise in volumes has given a breakout above 68-69 levels. Currently trading near 75, BUY with a SL of 63 and hold for target of 95-100. If the stock breaks the 100 level, then we can see it heading towards 110-112 levels.

27th My, 2014

TITAGARH WAGONS


TITAGARH WAGONS
On the monthly charts, TWL is in a downchannel since 2010. Watch for a break above 280 levels. Above 280, the stock can head towards 480-500 zone and above that 600. The stock should be able to sustain above 280 levels. On the downside, the support for the stock exists at 250/225 levels.

NTPC
NTPC
The monthly chart of NTPC shows a downchannel since 2010. The stock has broken out from this channel above 145 levels which means that upside upto 225-230 is open for the stock. The stock faces minor resistance at 190-195 levels. If the market remains strong, NTPC can higher towards 280 levels in the long term. Support for the stock exists at 135. Below 135, the stock can fall to 120 levels.

OCL
OCL
OCL has given a breakout above 185 levels on the monthly chart as shown in the above chart. The stock can be heading towards 350-360 levels in the coming months. Support for the stock exists at 170. This is a low volume counter so don't put a big amount of your capital into this stock.

TV18
TV18
TV-18 is forming a double bottom pattern on the monthly charts which gets confirmed once the stock breaks above 38.5 levels and sustains. Long term investors too must consider this stock as a long term play. This stock is a multi-bagger in making, support exists at 25 levels.

SUNTV
SUNTV
On the monthly charts, as shown by the 1-2-3-4-5 points in pink, Sun Tv is forming a wolfe wave pattern and the target for this pattern comes upto 550+ levels. The move can be sharp in this stock. 380 is a crucial support for the stock on the monthly charts.

LLOYD
LLOYD
LLOYD is forming a double bottom pattern on the monthly charts, the stock has broken resistance at 74 levels and if it sustains these levels, the stock can be heading towards 92 levels. Above 92-95 zone, the stock can see 106+ levels and head towards 180 levels in the coming months. Support exists at 55 for this stock.

PROVOGUE
PROVOGUE
Provogue can be heading towards 20 from current levels of 11 in the coming months. Support for the stock is at 8 levels. A must BUY and hold for long term stock.

NOIDATOLL
NOIDA TOLL
NOIDATOLL has given a breakout above 29 levels and seems to have formed a bottom on the monthly charts. The target for the stock comes up to 50 with support at 26.
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