Technical view by Nooresh

NESCO — Breakout on Weekly charts. Getting into New Orbit

Nesco Wow


Todays 11 % move in the stock confirms a breakout on weekly charts and now it can go into a new orbit.


Had posted about this yesterday that above 700 it should go towards 770/850. The first target was done in the day. So those who traded may keep some part of profit as holding in NESCO for free with a long term perspective.


Only thing to note is delivery volumes were 10% which shows a lot of speculative activity today. One may now look to enter on dips to 700-650.


Continue to maintain the long term view on the stock and booking partially 10-25% of quantity depending on risk-apetite can be done on rise to 800-850 and keep the rest for long term.


Also ABM Knowledge up 6% seems people have got interested. Got very good reviews on fundamentals but only thing to see is whether the company scale up to exponential growth from consistent growth.

Disclosure: Yet again the repeat --- Bullish bias on the stock as a personal top pick.





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Nooresh Merani

Article by Nooresh Merani

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{ 2 comments… add one }
  • rinaar February 15, 2012, 08:58

    should i can bye nesco @ current levels

    • nooresh February 19, 2012, 11:45

      NESCO keep buying partially on every dips.


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