Technical Analysis of Indian Equities by Nooresh

Careful of False Moves–Tata Chemicals, IFB Inds, Force Motors, Deccan Cements, Apex Frozen

There are lots of breakouts in smallcaps. and midcaps. Just note one thing

#ProTip - One needs to look deeply in #Delivery percentage in volumes in a #Price & #Volume Breakout in #smallcaps. Anything below 20% one should check out if it got covered in some #media. Check hist del %. Many #fake moves due to #pumping. Check on @mystockedge or #moneycontrol

Low delivery volumes of 15-25% is a signal to be careful. A lot of fake breakouts happen. Prefer not to write on who are the khiladis doing it.

Above all keep a stoploss, do not take concentrated bets, control leverage. Ride the momentum with simple thumb rules and discipline.

Do checkout the last video on Metal Sector – Time for a pause in some of the large names.

http://www.nooreshtech.co.in/2020/08/metal-sector-analysis-video-hind-zincnmdcomdchindalcotata-steelsail-and-jsw-steel.html 

Quick Technical Charts

Tata Chemicals – Big price volume action. Further momentum if it can cross 320-325.

Tata Chemicals

IFB INDS – Good price volumes breakout. Disclosure – Recommended in Technical Traders Club 

IFB Inds Blog

Force Motors – Strong volumes and breakout. Disclosure - Recommended in Technical Traders Club 

Force Motors Blog

Deccan Cements – Fundamentally a cheap company. Waiting for a breakout above 310-320. 250-270 a good base.

Deccan Cements

Apex Frozen – On verge of a breakout above 275-280 - Disclosure - Recommended in Technical Traders Club 

Apex Frozen Blog

Do read the disclaimer on the website.Do your own research and risk management.

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Article by Nooresh Merani

Nooresh has written 2786 articles.

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{ 1 comment… add one }
  • R S Kambo August 21, 2020, 20:18

    Notify me stocks on break out on buy side

    Reply

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