Technical Analysis of Indian Equities by Nooresh

Ranbaxy – A stock to keep on radar.

ranbaxy

 

Forming a huge 200 point channel.

A breakout with volumes will take it into new 52 week highs.

Article by Nooresh Merani

Nooresh has written 2609 articles.

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{ 15 comments… add one }
  • bhanu May 25, 2012, 17:39

    hi nooresh,

    Are you tracking Indraprastha Medical Corporation? sometime back you did reco on this stock (2009) i guess..

    -bhanu

    Reply
    • Nooresh May 26, 2012, 14:00

      Hi Bhanu,

      Yes i was pretty bullish on the sector. We did see some smart moves in fortis ptl and apollo post that. Indraprastha medical good dividend and track record but price appreciation is missing so take your own call on it.

      Reply
  • Hari May 26, 2012, 00:06

    What the hell is radar ? ?

    Reply
  • knichi May 27, 2012, 17:54

    This is definitely a “Sell in May and go away”. This time it did not turn out opposite as was expected. Now the times will be bad till October and then one can look at the market.

    Reply
  • Kaushal May 28, 2012, 19:59

    cup and handle also forming?

    Reply
  • Sandeep May 29, 2012, 15:46

    Hi Nooresh,

    I have just entered the script @535 (including brokerage). Any targets???

    Reply
  • Sandeep June 2, 2012, 15:41

    Hi Nooresh,

    Ranbaxy is trading around 492.. 8% down .. should I hold/average/sell …???

    Reply
    • Nooresh June 3, 2012, 11:20

      Hi Sandeep,

      You can hold on and wait for a strong close above 530 for a few days to buy. It was supposed to be a stock to be caught in momentum.

      Reply
      • Sandeep June 8, 2012, 16:28

        Hi Nooresh,

        I have averaged my Ranbaxy price to 514 today. I am confident on your analysis.
        Regards,
        Sandeep

        Reply
      • Sandeep June 9, 2012, 15:13

        Hi Nooresh,

        I have averaged ranbaxy to 514. i hav full confidence on your analysis.

        Regards,
        Sandeep

        Reply
        • Nooresh June 10, 2012, 23:36

          Hi Sandeep,

          The analysis mentions a buy on sustained closing above 530. The stock did not do that. For now we have initiated a buy around 480-485 with a stop of 470.

          Reply
          • Sandeep June 12, 2012, 15:02

            Hi Nooresh,
            I too entered 1st @535 and then @493. but leave outperform, the pharma stocks (Lupin,Divi,Dr Readdy etc) are not taking part in the rally that is happening. ????

            Regards,
            Sandeep

          • Nooresh June 12, 2012, 23:25

            Yes sustained closing below 470 will take a stop hit. Defensives getting out of favor

          • Sandeep August 3, 2012, 15:17

            Hi Nooresh,

            What is your take on Ranbaxy now. It has moved from those 475 levels to 510 now.

            Regards,
            Sandeep

          • Nooresh August 6, 2012, 00:08

            Hi Sandeep,

            The view remains positive on the stock till it holds above 470. On the upside 515/535 are critical resistances.

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