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Stocks on Radar: Bharti Airtel, BEL, AIA Eng, KPR Mills, Lupin, MRPL, Shemaroo, Shilpa Medicare, TRIL

Nooresh Merani | 08 Dec, 2016  | Follow Author | Add to my Favourites 
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Been on a break for a week or more and while going through charts found some interesting charts to be kept on radar.


These are not recommendations - Please do your own research and risk management

 

 

Bharti Airtel:

 

 

Multiple bottoms at 280 and now crossing the recent highs around 330. Is this a sign of reversal or just another attempt at 360-380.

 

Bharat Electronics:

 

 

Breaking out of a 2 yr range and all time highs. A lot of PSU names are breaking out

 

AIA Engineering:

 

 

A cup and handle formation in technical terms or rather say 3-4 tops around 1350 in last 1 year plus. 1150-1350 the recent range of consolidation. Watch for a break above 1350.

 

KPR Mills:

 


This has been a favorite stock in the Textile space not as widely tracked as the other textile company with K :) - The stock has been in a strong uptrend all through last 2-3 years.


Again making a fresh consolidation between 520-620 ( adj for split). Watch for a move beyond 640.


Lupin:

 


Multiple Bottoms at 1400. Can it break above the multiple tops and resistance at 1550-1600 and change trend ?


MRPL:

 

 

Another PSU stock which is now at a 6-8 years high.


Shemaroo:

 

 

A breakout move done. A retest of 350-360 could be a time to watch out for.


Shilpa Medicare:

 


A favorite among of a lot of investor friends. Finally broke out into all time highs but no follow up. A dip to 580-620 to watchout for.


Transformers and Rectifiers India Limited:

 

 

Multiple tops at 380-390 .


Some Market Thoughts

  • In my last few posts had kept mentioning how smallcaps/microcaps were moving way too much and way too fast. Can see those views on this post - ( http://www.nooreshtech.co.in/2016/11/stocks-on-radar-unichem-labs-tv-today-aia-engineering-shemaroo-kei-inds-triveni-engineering-exide-inds.html )

  • The smallcaps/microcaps needed a reason for some correction which has come in the form of the news of demonetization / trump etc.

  • Technically the view remains the same - Can remain boring for some time.


Nifty RSI as oversold as 2008/2011 – But Midcaps/Smallcaps No Major Correction. Bottoming Out ?

  • Now would be a time to watchout for stocks/sectors which cross recent highs and show relative outperformance and leadership. One such spot is a lot of PSU stocks like Engineers India , BEL , MRPL , Nalco, ONGC etc have made new 52 week highs. Will need to watchout for these names in coming months.

  • Another sector which can be a surprise could be telecom.

  • Overall this could be a good time to research and be ready to deploy cash on declines or on finding new sectors/stocks.




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About Nooresh Merani
Nooresh is an ace Technical Analyst and is proficient in picking winners from the mid-and small-cap segments. He is the Founder Director of Analyse India (www.analyseindia.com), a firm which has trained more than 800 individuals across India.

For more information please write in to [email protected]

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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