Technical view by Nooresh

Special Report – Long Term Technical Breakouts – Century Textiles, Dr Reddys , Hindustan Zinc, Jaiprakash Associates, Mcleod Russel and Raymond

This is a special report which was sent to our Advisory clients ( for our services check ) 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.

Century Textiles

- 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.

Dr Reddys

- 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.

Hindustan Zinc

- 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.

Jaiprakash Associates

- 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.

Mcleod Russel

- 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.



DECEMBER 15-16   ( Re-scheduled )

To confirm your participation mail to or call 09819225396 – Nooresh ,

N S Fidai   099201 20878 , Ankit Chaudhary  09899899989

We would soon be conducting sessions at Banglore and Delhi. Interested people may mail us

If interested check the link below.


Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2532 articles.

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{ 1 comment… add one }
  • Arvind December 6, 2012, 10:36

    Nooresh Sir,
    Any view on bajaj holding and orchid chem from hear on?


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