Technical Analysis of Indian Equities by Nooresh

Balaji Tele – Will it be a Breakout or False Breakout?

This is going to be an interesting trade which we have in Technical Traders Club

Balaji Tele has been one laggard and a deceiving stock for technical as well as fundamental investors/traders.

The last time i wrote about it it took a deep dive post a false breakout - Article in 2012  ( that gave a me a nice lesson on Value Traps )

One of the simple technical lessons i have learnt is - We are too bothered about False Breakouts. There is a Stoploss to take care of risk say at 5/10% would you like to miss a possible 30-40% upside only to avoid that few False Breakouts. Would rather focus on risk management.

This time around again the stock has given a good breakout above 78-80 a couple of days back. So yet again have initiated a buy at 78-80 irrespective of the past heartburns 🙂 Stops at 74 which will soon shift to 76

Balaji Tele Blog

  • Multiple tops at 78-80
  • Good base at 64 with multiple bottoms.
  • A 15 pointer range to start with.
  • Long term confirmation of further momentum on sustaining above 90 levels.
  • Can call this a channel or range breakout.
  • Fundamentally needs triggers in terms of management action/ stake sale of Star in co or something more.

Disclosure - I do have vested personal interests in all stocks i recommend as well as Clients. This has been recommended in Technical Traders Club. So please do your own research and risk management. Take this post as educational or timepass.

Do download the Android App  - " NooreshTech". Would appreciate your Reviews on Play Store.

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For all investors this is a course i recommend which will; be done mainly by Puneet Khurana. I ll be speaking a bit on Techno Funda too.

The Investing Lab Workshop

Date:
25th  & 26th July 2015

Timings:9 am to 6 pm

Venue :

Hotel Karl Residency

36, Lallubhai Park Road, Andheri (W), Mumbai – 400 058. Maharastra, India.

Fees:
Rs 18000

Book Your Seat
https://www.instamojo.com/ProfPuneet009/the-investing-lab-mumbai-25th-and-26th-july-/

 

 

Nooresh Merani

Securities covered above:: Balaji Tele

SEBI Registration disclosure – Investment Adviser

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. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision

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Article by Nooresh Merani

Nooresh has written 2733 articles.

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