Technical Analysis of Indian Equities by Nooresh

≑

Strong Technical Buy : Dhanalaxmi bank

Dhanalaxmi

Dhanalaxmi Bank:

In the last few weeks i have maintained my strong bullish view on banks and quite a lot of them have given nice moves ( Vijaya Bank, Karnataka advised to clients).

After quite some time i have seen a strong technical formation which is a low risk high return trade. Dhanalaxmi Bank on trading above 156-157 should give a quick move to 178 in extreme short term.

Ideal time period would be 2-3 weeks on breakout with a price target being 10-12% and stoploss of 148. It can overshoot also.

Volumes have been high in the last two sessions indicating accumulation.

Disclosure: Have recommended the stock in all our schemes at 145-148 levels.

For more about our advisory services check - http://www.nooreshtech.co.in/services

Have been a little busy as Analyse India is in midst of a new exciting venture πŸ™‚

Article by Nooresh Merani

Nooresh has written 2569 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 2 comments… add one }
  • Deepak June 3, 2010, 11:36

    Sir,

    Your are just mind blowing. I wish . I could subscribe to your delivery plan but 7k is 2 much for me for a moderate portfolio.

    Reply
    • nooresh June 3, 2010, 15:37

      Hi Deepak,
      You can continue to use the blog as a source of guidance for your portfolio. Join us some time later.

      Regards,

      Nooresh

      Reply

Leave a Comment