Technical Analysis of Indian Equities by Nooresh

Sector Leaders near Breakouts – UPL Limited, GAIL India, Balrampur Chini, Atul Limited

In this post we are looking at a few stocks which are either sector leaders/largest in terms of size in their sector and are very close to breakouts.

Rest of the names in the sector have already done a great move over past few months. Will these stocks show leadership or lag ?

UPL

  • The leader in the agro chemical space and now on verge of a triangle breakout above 750-755.
  • Quite a few attempts at that resistance in last few days

UPL Blog

GAIL India

  • At 6 year highs with 3 attempts.
  • Same bottoms at 200 odd.
  • Good consolidation near 370-410.

GAIL India Blog

Balrampur Chini

  • Highs of 2011 around the 150-160 mark.
  • Good consolidation recently around 145-160.

balrampur Chini Blog

Atul Limited

  • I would say in terms of specialty chemicals this is the only company which would really qualify to use the word Specialty and most of the other touted names are a little better than commodity. ( Personal View )
  • After a good consolidation for last few months consolidating at the all time highs of 2500 odd.

Atul Limited Blog

 

Disclosure - UPL, Atul LImited and GAIL India have been recommended in Technical Traders Club 

Do your own research and consult with your adviser. please read the disclaimer 

Nooresh Merani

Securities covered above:: Tata Elexsi, Petronet Lng , Orient Refractories, Mercator Limited, IDFC Bank and Ahluwalia Contracts

SEBI Registration disclosure – Investment Adviser ( INA000002991)

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Nooresh Merani and his family/associates/ analysts do not 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.

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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

Article by Nooresh Merani

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