Technical Analysis of Indian Equities by Nooresh

Onmobile Global –Will it breakout of the channel and do 57 or even 80

Before we discuss the stock below let us focus on two previous such examples.

As a technical analyst many a times we tend to anticipate breakout moves or wait in for price and volume confirmation.

Like in the case of TV 18 -

The stock was quoting at 34 levels when we posted this article.

TV 18 Broadcast – Triangle Breakout on cards.

 

Post that the stock has moved the expect 10-15% in next few sessions. This was confirmed on crossing 34.5-35 the next day. Jumping up to 38 by today.

The stock was recommended at 33-34 levels to clients recently ( For our services check www.analyseindia.com )

 

Similarly had posted on a stock Suprajit Engineering which was a techno funda bet at 30.5-31.

 

Suprajit Engineering Limited – Long Term Techno Funda Buy – Target Price 40

 

The stock has since moved to 37-38 giving a quick 15-20% jump although we booked at our 35-36 which was the short term target.

 

Now another such stock which comes into our radar and we are waiting for a price and volume confirmation is ONMOBILE GLOBAL

 

Onmobileglobal

 

The stock saw a huge fall in mid of 2012 and has since then be making higher bottoms but not able to cross 50-51 resistance for now.

With good volumes over last 4-5 sessions there is a good possibility it might breakout above the resistance band.

The strategy would be to wait and watch the price moving above 50-51 to initiate a trade. A risky trader may buy keeping a stoploss of 44-45.

 

TECHNICAL ANALYSIS TRAINING SCHEDULE

 

BANGALORE – JANUARY 19-20

MUMBAI – FEBRUARY 2-3

AHMEDABAD – FEBRUARY 16-17

 

for more details call Ankit 09899899989 Nooresh 09819225396  or mail toanalyseindia@analyseindia.com

 

 

Regards,

 

Nooresh

 

www.analyseindia.com

Article by Nooresh Merani

Nooresh has written 2613 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 2 comments… add one }
  • kris January 18, 2013, 11:09

    I have purchased this stock at 46. Sir can you publish some Multi bagger stocks for 2013.

    Reply
  • Bijal February 14, 2013, 10:01

    Hello Sir,

    I had purchased 500 onmobile @ 47, please advice whether i can accumulate 500 shares more @36 levels or one should wait more to add the stock.

    Regards,
    Bijal

    Reply

Leave a Comment