Technical Analysis of Indian Equities by Nooresh

Aditya Birla Nuvo and Ashok Leyland —- Will they breakout above the resistance.



Aditya Birla Nuvo :

In August had discussed about the stock at 850-820 levels as being a good defensive investment for long term with a broad valuation ---- Aditya Birla Nuvo – lots of Value


The stock has been facing a lot of resistance in the band of 970-980 for a long time now. Whenever it breaks and sustains will give a move to 1100-1200 in short time.




Ashok Leyland :

The stock has been in a range of 23-28 for a year now. The last attempt also looked like it would breakout but now its almost the 4-5th attempt increasing probability of a breakout. Keep a watch if crosses 28 with volumes can give a move to 33.


Happy Investing ,


Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2801 articles.

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{ 5 comments… add one }
  • Gaurav November 4, 2011, 00:25

    Hi Nooresh,

    What’s ur opinion on HDIL and IBRE for 2 to 3 years?

    Many Thanks

    • nooresh November 4, 2011, 10:21

      Both the stocks are showing signs of bottoming out but in real estate best bets are nesco, ashiana and godrej properties.

      Short term bullish on Ibreal and HDIL —2-3 yrs they would definitely be higher but difficult to say they have totally bottomed out.

  • pratiek November 5, 2011, 08:53

    sir according to me lupin is on the verge of fire bz it breaks upside trend line plz comment and sir all pharma pack looking good…….

  • Ravi November 17, 2011, 21:11


    Bought 1000 Ashok Leyland @28 and keep watching with 26 as a stop loss. But today I was out and it ended blow 26. Can book loss or can I average it at lower level? Please advise


    • nooresh November 17, 2011, 23:34

      Hi Ravi,

      The stock gave a breakout but yet again coz of market conditions its taken a stoploss hit.
      Downside could be limited to 23-24 looking at dividend yield.


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