This is a special report which was sent to our Advisory clients ( for our services check www.analyseindia.com ) on 29 November. Some stocks have already broken out post the report and some are left.
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In the report below Nooresh Merani is covering a few stocks which have broken out of 1-3 year range bound movements or about to breakout and can give an upside of 20-40% over the next 3-6 months or sooner also.
Any dips from current levels should be used to accumulate the stock.
- The stock is forming a big inverted head and shoulder which has a breakout point at 400-410 levels.
- For the past few weeks the stock is consolidating at the resistance levels of 390-410.
- 390-410 is a good buying area with a stoploss of 375 and upside target of 500-550.
- Momentum can be seen above 410 levels and a small pause at 450.
- The stock has been forming a cup and handle of 250-400 points.
- The breakout point is 1820 levels on closing basis.
- One can accumulate the stock with a closing stoploss and a target price of 2000/2200.
- The stock is forming a 35 point triangle.
- Breakout point is above 145 giving an upside to 180.
- As of now its too early to call a breakout but one can take a pre-emptive buy with a stoploss of 128.
- After making a lot of bottoming formation around 55-60 levels the stock is finally waiting to break out of Major Channel bound movements.
- 85-95 is a resistance area where stock is consolidating for last few weeks.
- Expect momentum to cacth up once it starts closing above 95-96 levels.
- Upside target of 120. Accumulate with a stoploss of 85.
- The stock gave a cup and Handle breakout above 290 levels a couple of months back.
- Post that we did see the breakout levels to have been tested recently.
- The upside target would be 550 in long term. Stock may start the next leg of upmove in the next few weeks.
- Accumulate with a closing stoploss of 320 and upside target of 550 in long term.
- A huge Cup and Handle with a minimum upside of 100 points or higher.
- Good volume based breakout indicates every dip from here should be a buying opportunity with a target price of 550 or higher in medium term.
- Stoploss to be kept at 405 levels.
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