Stock Picks

20th May 2014 and ahead: Stocks to watch

21st May, 2014:
ALOK TEXTILES:
ALOK TEXTILES
On the weekly charts, Alok Textiles has given a very strong breakout with a spurt in volumes. For the past 18 months, the stock has been falling and failed to break above the falling trendline on multiple occasions. The stock has since created a double bottom pattern and broken above resistance at 9.25 levels and looks set for a strong 40%-50% rally from current levels. BUY in the 10-10.25 range with SL at 8.5, TGT: 14+
For those who missed the current rally, this  stock gives you another chance.


20th May, 2014
TATA COMMUNICATION:
TATA COMMUNICATION
The above chart of Tata Communication shows a strong breakout on the charts above the 320 level. The stock showed a burst in volumes while breaking through the 260-320 range. The textbook target for this breakout is 380 levels. Expect this stock to perform well in the coming few sessions. Stop loss for this trade will be at 305. The spurt in volume means a growing interest in the stock. The stock is a fundamentally strong one and a technical breakout for such a script adds confidence to the safe investor who looks for good opportunities in a BULL market. Follow our BLOG for such reports.
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