Technical Analysis of Indian Equities by Nooresh

15 Nifty Stocks – Range Bound but How Long ?

In my recent tweets have mentioned about how a lot of star performers of 2014 and so called quality names are down 30-40% from peak and 1 yr return is closer to zero or negative. ( Aia Engineering , Astra poly , mayur uniquoters, symphony , sun pharma etc )

Nifty has been in a downtrend for almost 8-10 months now from the peak in Jan-Feb 2015.

Like the so called quality names of 2014 in  midcaps/smallcaps a large no of Nifty stocks are in a major sideways range for a year. This has made it absolutely difficult to trade large caps as barely few stocks have good trends ( up or down ) for example Maruti in up and Metals in down. Midcaps/Smallcaps/Microcaps are getting very stock specific moves on both sides but good clear trends.

As of now not many look close to a breakout but doubt they can stay in this range for 2016. So hopefully 2016 could be an interesting year for fresh trends in large caps.

Have not covered all but some of the sideways charts in Nifty 50 stocks. Could be more. But these 15 form a major chunk of the Index Weightage.

TCS --- Closer to Breakdown but No Follow Up

tcs nifty

SunPharma - Range Breaks on Downside

Sun Pharma

State Bank of India --- Lot of False starts from 230-250

SBI

 

Reliance Inds - Back to testing 1000-1030 range . Can it breakout in 2016 ?

Reliance Inds

Mahindra and Mahindra - Back to testing the 1350-1400 range ... Will it breakout or back again ?

M&M

Larsen and Toubro --- Breakdown from range but no major follow up selling. Needs to recover above 1450-1500 to change tracks.

lnt

Kotak Mahindra Bank --- Will it break 600-750 range in 2016 ?

Kotak

ITC --- Absolutely no trend for a couple of years now. Will it comeback or its good times are over ?

itc

Infosys - What a range for a year !! 950-1150

Infosys

ICICI Bank - Back to where it started from - 245-260 an important support

icici bank

HDFC Bank --- Sideways but no major drop. A small range of 970-1120.

hdfc bank

HDFC Limited - 1100-1350 a range. Will it change in 2016 ?

HDFC

Cipla - 600 a good support. Time to chip in ?

Cipla

Bajaj Auto - Triangle Consolidation. Will it break above 2650 in 2016 ?

Bajaj Auto nifty

Axis Bank - Back to Breakout Area. 430-450 crucial supports.

Axis Bank

Bottomline

For the last 1 year or more we at Analyse India have focused a lot more midcaps/smallcaps and microcaps ( which we anyways focused are all the time )  but I think 2016 could be a time to again focus on Large Caps and watch for new trends to form and possibly give some low risk high reward trades.

We also have a product for Investors with a long term outlook and is for limited no of members and subscription open only for limited period of time.

 

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  • 25-50 investment ideas in a year.
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  • The normal allocation to one stock would be 2% to start with. So ideally we should have 50 stocks. But in many cases we will allocate more to some stock with max limit of 10-12% to one stock and around will generally be diversifed to a minimum of 20-25 stocks or more.
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What you will not get in Big Value 3.0 ?

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How much do we charge and how do clients need to go about it?

  • The charges are Rs 24000  ( For 1 year and a little more ) .

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Article by Nooresh Merani

Nooresh has written 2683 articles.

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