Technical view by Nooresh

Rise of old Heros – Indiabulls Financial Services and Reliance Capital


We are seeing the darlngs of 2006-2007 and most hated stocks of 2008-2012 to be making a major come back.


The two stocks which have confirmed such breakouts are Indiabulls Financial Services and Reliance Capital.

Both can surprise with 20% upside. But with the volatility one may need deeper stoplosses.



indiabulls financial

Indiabulls breaking out of a 2-3 yr channel. An optimistic target could even be a double from here but one can keep a conservative target of 400.


 Reliance Capital


Reliance Capital has also confirmed a cup and handle breakout which gives us a minimum target of 600-650.


Do note that both the stocks are high beta and may need deeper stoplosses and bigger targets. So do your risk management.


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Article by Nooresh Merani

Nooresh has written 2532 articles.

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{ 2 comments… add one }
  • Arvind January 2, 2013, 13:18

    Nooresh ji,
    Does Sintex qualify for cup and handle pattern on daily chart ?

    • Nooresh January 4, 2013, 11:52

      Sustaining 68-70 can give a smart jump. Just that last time the attempt did not last but expecting it to do good. Pattern looks more like a small range breakout.


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