Technical Analysis of Indian Equities by Nooresh

Multi-Year Highs & All Time Highs – Voltas Limited and Vardhman Textiles

its been quite some time since have updated a few charts on the blog. Will start to blog often from now on.

 

But please read the disclaimer and disclosure.

 

Multi Year Highs / All Time Highs.

 

I personally give a lot of weightage to stocks which have hit new multi-year highs and all time highs after good consolidation.

It is generally an indication of a major trend and momentum shift possibly with a change in fundamental perception.

 

Lets first take an example.

 

We had looked into this chart of Hexaware in september 2014.

 

Hexaware old

 

You can read the detailed post -

Technical Picks – UPL and Hexaware for medium term.

 

Had written a lot more on it on my twitter handle - @nooreshtech.

 

The stock was recommended in our Big Value 2 at 150 bucks and has had a superb run.

 

One of the major reasons to be bullish was a 15 year high and this was the only stock apart from Infosys and HCL Tech which crossed the peaks of 1999-2000 Y2K Boom.

 

Hexaware Now

 

We were lucky enough to get in and ride this one and still holding on from 150 to 280 plus dividends. ( booked partially at 240/270)

 

We will try to cover a lot of stocks which are making new all time highs or multi-year highs in this category of posts.

These generally tend to be long term trend shifts and take time to make the right moves and sometimes go up very quickly too.

Do not take this as a buy recommendation. Do your own research.

 

Voltas Limited

 

Voltas Blog

 

Technical View

-> 2007-2014 highs being crossed at 250-270.

-> Short term highs for last few months at 280.

-> Can see a major trend shift above 280-285. 

 

Vardhman Textiles

 

vardhman Textiles

 

Technical View

 

-> After making a new all time high at 400-420 and a move to 500-520 the stock consolidated for last 6-8 months.

-> In the last two days the stock has made all time highs with good volumes.

-> Can this be a shift in momentum for long term. Lets hope so.

-> Fundamentally its an interesting company with an EBIT of 1000 crores and EV

 

Disclosure : Recommended at 420-460 in big value 2.0 almost 6 months back ( patience and lots of underperformance  )

 

P.S – Do note i have vested interests in all the stocks i mention and my views can be biased. Do your own research and risk management . Read the disclaimer and disclosure.

 

We are conducting an interesting two day workshop in Bangalore at the end of this month. Do attend to learn more about the way to invest.

 

 

The Investing Lab-Bridging Theory and Practice–Training Program Bangalore 28-29th March 2015 !!

 

Do book your seat at the earliest  -

https://www.payumoney.com/store/buy/til

 

 

 

 

DISCLOSURE

Nooresh Merani

•Securities covered above: Hexaware , Voltas , Vardhman Textiles

•SEBI Registration disclosure – Registration for RIA under Process

•Financial Interest:

•Nooresh Merani and his family/associates/ analysts do have exposure in the securities mentioned in the above report/article.

•Nooresh Merani and his family/associates/ analysts do not have any financial interest/beneficial ownership of more than 1% in the company covered by Analyst.

•Nooresh Merani and his family/associates/ analysts have not received any compensation from the company/third party covered in the above report/article ever.

•Nooresh Merani and his family/associates/ analysts has not served as an officer, director or employee of company covered in the report/article and has not been engaged in market-making activity of the company covered in the report/article.

•The views expressed are based solely on information available publicly and believed to be true, assessed on Technical Analysis and view of the Author . Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision

•Also read the detailed disclaimer – http://www.nooreshtech.co.in/disclaimer

Article by Nooresh Merani

Nooresh has written 2740 articles.

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{ 1 comment… add one }
  • ashok shah March 12, 2015, 13:51

    V. Interesting

    Reply

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