Technical Analysis of Indian Equities by Nooresh

Wockhardt Limited – Huge Breakout on Monthly Charts and some more stocks

Wockhardt

 

Wockhardt Limited -

 

- > The stock had been in the range of 310 to 410 for the last 6-9 months.

- > Todays move above 420 with volumes signifies a major breakout which can target 550 levels in the medium term.

- > The stock can be bought partially at current levels and on dips to 400-415 with a closing stoploss of 380 with a medium term view.

- > Short term target 460.

 

Dislcosure: Recommended to clients at 408.

 

Some other stocks to watchout for

 

Tech Mahindra could give a fresh breakout above 760 levels. Traders can keep a watch.

 

Glaxo Consumer, Gillette, Nestle are few MNCs which look good as defensive bets on any sharp dips.

 

Please do your own research before entering any stock.

TECHNICAL ANALYSIS TRAINING SESSION –

 

PUNE July 16-17

BANGALORE July 23-24

MUMBAI July 30-31

Article by Nooresh Merani

Nooresh has written 2583 articles.

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{ 1 comment… add one }
  • kksuresh July 12, 2011, 17:49

    Dear sir, please give ur views on dr reddys after studying its cahrts. even though the market is falling this stock is standing tall. thank you.

    Reply

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