Technical Analysis of Indian Equities by Nooresh

Investment Pick Atul Limited – Big Cup and Handle Breakout on cards.

Atul Limited – A strong fundamental company about to breakout.

 

Atul

->  A consistent performer fundamentally with profit growth of 50% over 10 years and ROE/ROC in high 20s.

->  The stock has seen a consolidation for last 12-15 months making a huge cup and handle pattern.

-> We can expect a breakout above 480 in coming months.

->Current consolidation in the range of 410-440 is a good time to accumulate the stock and add more positions on a breakout above 480.

->  A medium to long term target of 550-600 ++. Stoploss 390.

 

This stock was covered in our report Technical Trades – April 2014.

 

The stock has moved up from 440 to 470 but the momentum breakout can be seen above 480. The cup and handle target price would project a much higher target but we can look towards 550-600.

 

Investors can look to accumulate the stock with a medium term view at 440-470.

 

If you are interested in learning and becoming more confident and independent in your trades do join either of the two courses.

Online Crash Course on Technical Analysis – Sunday 13th April 2014

This is a 6-7 hour program to be conducted this Sunday at a cost of Rs 2999 only. I personally recommend this to every trader/investor who would like to learn and add this to your skills.Also those who cannot attend the session can subscribe for it and get the full recording.

 

TECHNICAL ANALYSIS TRAINING MUMBAI – April 19-20

This is the only training program which we have been doing for the last 7-8 years now across various cities.

A 2 day program which covers technical analysis in a practical way for a small batch of participants ( 5-10 )

More details on this link – http://www.nooreshtech.co.in/technical-analysis-training

 

 

Thanks and Regards,

Nooresh Merani

www.analyseindia.com

Twitter – https://twitter.com/nooreshtech

Facebook – https://www.facebook.com/nooreshtech

nooreshtech@analyseindia.com

Article by Nooresh Merani

Nooresh has written 2740 articles.

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