Technical view by Nooresh

Strong Technical Pick for Short Term – Alok Inds

Due to professional reasons we cannot give all our strong technical picks for short term as majority of those are meant for clients. Also because of time constraints have not been able to post the charts of some really quick technical trades we have been taking and most of the posts have been towards the index movement.

From now on we would be looking into lots of stock specific and midcap trades as i expect the momentum to continue in the broader segment even if the index corrects.

Previously when we broke 19900/19100 we had advised exits in the broader market. If you see in the current move index is back to 19500 but the broader segment has not recovered. For the past 1 month we have started focusing on midcap ideas again in our client calls again and quite a lot of good trades have been taken.


The above stock we have initiated a short term as well as a medium term pick.

ALOK INDS – Major Breakout on Cards



- > The stock is making an excellent cup and handle/inverted HNS pattern with a breakout at 27 levels.

- > Technical Targets would be 30/34 in short term.

- > Volumes have increased in the last few weeks supporting the move ( Also promoter buying as per exchange disclosures )

- > Stock can be bought at current levels and on dips till 25.5-26 also. Also textiles as a sector remains an interesting bet for next few months.


Disclosure: Have recommended the above stock between 25-26.5 in all our advisory schemes.




Article by Nooresh Merani

Nooresh has written 2531 articles.

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{ 3 comments… add one }
  • Kailash Agarwal April 25, 2011, 21:51

    Hi Nooresh,

    What should be the ideal SL in case of Alok Inds.

  • Gayatri Mohanan T. July 15, 2011, 14:28

    What is the target for 4-5 years?

    • nooresh July 18, 2011, 12:40

      Hi Gayatri,

      Have taken an exit in the stock as it has not performed as expected.


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