Technical trades march 2014 - by www.nooreshtech.co.in

www.analyseindia.com www.nooreshtech.co.in
In this report we would try cover the best possible trading setups and the potential risk-
reward entry points on a lot of technical parameters.
Things to Note
 The report has been made on basis of technical analysis and in good faith.
 Past Performance is not a guarantee to the future. ( so even I have been wrong
many a times before its not necessary I ll be again and vice versa  )
 Do not over-leverage.
 Also do take care of the risk management and keep a strict stoploss. If you cannot
afford the stoploss don’t take the trade.
 One of the ideal ways to trade would be to book partial profits and keep trailing
stoplosses to reduce risk and conserve profits.
 No trading strategy allocation has been advised as every trader may have a different
style and methodology for allocation of funds.

TECHNICAL TRADES - MARCH 2014
Stock Name Reco Range
Reco
Price High Target Stoploss CMP
%gain
s Comments
Asian Paints 490-495 495 544 535 480 539 8.08
All targets
done
grasim abv 2850 2850
290
0 3100 2750 2859 0.32
Broken out
on 28 March
Infosys 3350-3390 3370
340
0 3800 3240 3260 -3.86
Stoploss hit
but maintain
hold and re-
entry
Wipro 555-535 545 577 650 525 552 1.28
Maintain
hold. Did
bounce to
575.
Tata Chemicals 275-278 277 287 325 264 286 3.25
Maintain hold
and add on
dips.
Positional
buy.
Century Textiles 330-335 336 366 375 320 364 8.33
Getting into
the target
zone. 1st tgt
done. Book at
375 or trail.
VIP Inds 70-75 75 104 100 68 100 33.33
Both targets
done of
85/100 in
quick time
Hexaware 143-148 146 153 165 137 150.5 3.08
Maintain
positive view
on the stock.
Did retest of
support on
exact lines.
Stoploss can
now be 139
Datamatics 47-53 51 52 80 42 51 0.00
It’s a long
term bet.
Essel Propack abv 56 56 64 66 53 58.5 4.46
Did the initial
target of 60
and made a
high of 64.
Can book on
rise to 60-65
in coming
days.
Tata Comm abv 300 300 305
320/34
5 293 303 1.00
Broke out on
27 March.
Hold for short

term.
Jagran 88-91 90 104
105/11
5 86 101 12.22
Went close to
1st target of
105. Can
book on rise
in coming
days between
102-105
Balrampur Chini 50-53 52 54 68 47 53 1.92
Maintain hold
for short and
long term
both
Bajaj Hind 14-15.5 15 17.3 18/24 13 16.2 8.00
Maintain
hold. Bullish
on the sector.
Can buy as a
basket.
Triveni
Engineering 17-18 17.5 18.6 25/30 15 17.4 -0.57
A good long
term buy.
IFCI abv 26.7 26.7 27.4 30-32 25.5 27.1 1.50
Broken out
on 28th
March. Hold.
Marksans
Pharma 17-17.8 17.8 26.5 21/25 15.5 25 40.45
Target done
in quick time.
Super move.
Can do 40
also in
medium
term.
Sundaram
Finance 620-645 635 684
720-
750 600 669 5.35
Maintain
hold.
GE Shipping 320-330 326 353
360-
390 310 339 3.99 Maintain hold
NRB Bearings 45-46.5 46 53 55 42 51.5 11.96
Book on rise
to 53-55. Can
keep part
holding for
long term.

Nifty Technical View
 Although we had a cautious view at 6500-6550 as the index was
reaching 70 RSI.
 The index did dip 100 points but could not reverse strongly and took
our trailing stops on the Nifty trade.
 Given the momentum and possibility a trendline breakout above 6600
and sustaining 70 RSI this can also end up into a strong pre-election
rally.
 Previous such breakouts have resulted in a long term trend change
also. ( We will discuss this in detail in the webinar )
 Till the index holds 6300-6400 the trend remains positive with
possibility of 6800/7200 also in euphoria.
 But we have generally seen a overbought zone in Nifty is a good time
for midcap and broader market stocks.
 The strategy should be to be stock specific with strict stops.

Asian Paints – Channel Breakout
 A downward channel with almost 4 attempts on the upside was finally
broken last week above 490.
 The channel size is around 30 points.
 Buy at 490-495 with a stoploss of 480 and a target price of 518/535.
 Momentum will be seen in the stock above 502.

Grasim Limited
 The stock has made 6 attempts at the resistance of 2850.
 Given that the stock is sustaining in the current move we can expect
the breakout to come in next few sessions.
 Buy in dips to 2650-2680 or in momentum above 2850 for a target of
3000-3100 and higher. Stoploss at 2600 and 2770 in momentum
trade.

Infosys
 After breaking out of the range of 2200-3000 the stock completed the
800 pointer target by touching 3800.
 Now the stock has seen a correction and retesting the support zones of
3300-3400.
 After the gap down there is no further selling with volumes is an
indication of a bottoming out in short term.
 Buy around 3350-3400 and on dips with a stoploss of 3240 with a
short term target of 3600/3800.
 The stock is in a long term uptrend and can look at much higher
levels. The high of the Y2k boom was around 3500. A 15 year high
cross is generally a very positive signal.

Wipro – High Conviction Bet
 The stock was in a range of 300-505 for a period of 3 + years.
 Breakout was recently seen above 500-520 after a couple of failed
attempts.
 The minimum target price in such a range breakout should be 700.
 After making an initial move to 600 the stock is now testing its
breakout zones.
 Buy at 555-535 with a stoploss of 525 and a target price of 650-700 in
the next 1-3 months.
 This is our high conviction bet for short term and even long term
investors.

Tata Chemicals
 After a major bottoming out at 240-260 and a retest of the same
levels the long term trend change is clear in the stock.
 The stock broke out above 275 with very strong volumes and touched
a high of closer to 300.
 Post that the stock is seeing a drift with low volumes to test the
support zone at 270-275.
 Buying can be initiated at current levels of 275-280 and on any dips to
268-272 be added if at all it comes. Stoploss of 264 and a target price
of 300/325.
 This is a good stock for long term investors as well with an eventual
target of 400.

Century Textiles
 Century Textiles has given a breakout above the inverted head and
shoulders/cup and handle trendline. The volumes have not picked up
and the stock is sustaining around the breakout levels.
 We may see further momentum above 345 levels.
 Can buy around 330-335 with a stoploss of 320 and a quick target
price of 360-375.
 A momentum buy can be initiated above 345.

VIP Inds
 A cup and handle of around 25-30 points.
 The stock has seen good volumes on breakout above 70-74 zones.
 Potential target price could be 85/100.
 Buying can be done in the stock at 70-75 with a stoploss of 68.

Hexaware Technologies – Strong Midcap IT Company
 A cup and handle pattern with a size of 70-80 points is potentially a
huge return candidate.
 Also the strong volumes on breakout above 140 & now drifting to test
support on lower volumes is a strong sign.
 The risk-reward is highly favorable when buying the stock at 143-148
and a stoploss of 137 with a potential long term target of 200-220.
 A short term target at 160-165.

Datamatics – Techno Funda Small Cap Bet
 The stock has crossed 5 year highs with huge volumes post coming
out of the Periodic Call Auction System.
 It is now giving an excellent entry on retest of the 47-53 support
levels.
 Fundamentally the stock is at 300 cr market cap and a trailing twelve
months PAT of 42 crores with no debt and a dividend payout ratio of
50%. The profit growth has been 55 % for last 5 years.
 At a P/E of 7 for a company which has been a consistent performer
over the last 5 years and the best results since listing 10 yrs back
around 2004 it is a candidate for re-rating.
 High promoter shareholding and dividend track record with a yield of
2% it becomes an interesting long term story.
 Buy with a technical target price of 80-100 in the long term.

Essel Propack – Setting up for a breakout
 The stock has been a good uptrend for last 6 months but the move has
been slow and steady.
 For last 3 months the stock is in a range of 46-56.
 We have seen a slight increase in volumes and the stock is very close
to its breakout at 56.
 One can buy the stock at 53-54 or above 56 with a target price of
60/66 + in the short term. Stoploss at 50 and 53 in momentum.

Tata Communication – Momentum Trade to watchout for above 300
 The stock has seen a huge move over the past few months but is now
consolidating for last couple of months.
 This is a momentum trade only to be initiated above 300 with a
stoploss of 293 and a quick target of 320/345.

Jagran Prakashan – Waiting for Momentum
 One of the better bets in the media segment fundamentally and now
waiting for some technical momentum.
 The stock is on verge of a triangle breakout and almost made an
attempt couple of days back.
 Buying can be initiated at 88-91 with a stoploss of 86 on closing basis
and a target of 105-115.
 A good risk-reward buy at current levels.

Sugar Stocks – Trend Change for Long Term
Balrampur Chini
 After making a double bottom around 35 the stock has crossed above
the channel.
 After making 4 failed attempts the stock broke out above 50 and made
a quick high to 57.
 The volumes are strong and the support retest at 50-53 is a buying
opportunity.
 Also the sector has been in a downtrend for many years and this could
possibly be start of a major uptrend in the stock.
 Buy around 50-53 with a stoploss of 47 and a target of 60/68.
 Some part of the quantity can also be kept for long term.

Bajaj Hindustan
 The stock has been in a range of 12-15.5 for the last 6-10 months
making a long consolidation with many attempts at the higher end.
 Breakout was seen with huge volumes.
 This can be a little riskier than Balrampur Chini given the volatility of
the stock but so can be the returns.
 Buy at 14-15.5 with a stoploss of 13 and a target price of 18-24.
 This can also potentially be a long term turnaround and one of the
most corrected stocks in the sector due to debts this can be a
multibagger also if things work fine.

Techno Funda Long term Bet in Sugar Space – Triveni Engineering.
 One stock which can also be added in the segment is Triveni
Engineering which is better placed fundamentally due to the 23%
holding in Triveni Turbines is worth the current market cap.
 Accumulate the stock at 17-18 with a long term view.

TWO HIGH RISK HIGH RETURN MOMENTUM TRADES
IFCI
 IFCI has generally been a punters favorite in momentum and the stock
is again close to a resistance which it has not been able to cross.
 Sustaining above 26.7 opens up a quick move to 30-32.
 A stoploss of 25.5 on crossover.
 Given the volatility the stock is a high risk high return bet.

Marksans Pharma
 Another favorite of the 2008 period the stock had a bad time for last
many years.
 Recently the stock has moved from1-2 rs to 20 in the last 1 year due
to a string of superb results and a total turnaround.
 For the last 3-4 months the stock is consolidating before it sets up for
another breakout move.
 One can buy the stock at 17-18 with a stoploss of 15.5 and a target of
21/25.
 Punters expect it to touch even 40 in the medium term. High risk high
return stock.

TEAM ANALYSE INDIA
Nooresh Merani
CEO - Analyse India
Cell: +91-9819225396
e-mail: nooreshtech@analyseindia.com
N S Fidai
Managing Director - Analyse India
Cell: +91-9920120878
e-mail: nsfidai@analyseindia.com
Ankit Chaudhary
Technical Analyst and Derivative Strategist - Analyse India
Cell: +91-9899899989
e-mail: ankit@analyseindia.com

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Technical trades march 2014 - by www.nooreshtech.co.in

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Technical trades march 2014 - by www.nooreshtech.co.in