long term breakouts monthly metastock

Diwali Picks 2014 - Samvat 2071

Technical Long Term Investment Ideas

B P W E A L T H

Technical Long Term Investment Ideas B P W E A L T H

Hansraj Modi - Sr. Technical Analyst Sohil Gandhi - Technical Analyst [email protected], +91-22- 61596406 [email protected], +91-22-61596173

Index

Company Recommendation Price (Rs) Target Price (Rs)

Bajaj Auto Ltd. Buy 2,413 2,750 / 2,850

Bharti Airtel Ltd. Buy 402 480 / 600

BHEL Buy 228 330 / 380

IOB Ltd. Buy 60 110 / 155

NTPC Ltd. Buy 144 190

SAIL Buy 78 120 / 150


The stock is moving in an upsloping channel, within the channel the stock has given upward breakout of Ascending triangle (marked in chart by red trendlines ) af-ter which the stock is expected to resume its previous upmove and head initially towards the upper trendline of the channel which is placed around 2850, the target as per the pattern comes at 2750. We recommend to BUY BAJAJAUTO @CMP of 2413 for the targets of 2750-2850 in long term.

BAJAJ AUTO : ASCENDING TRIANGLE BREAKOUT, TARGET - 2750/2850

Period : Monthly, Source : Metastock, BP Equities

Institut ional Research BP Equities Pvt. Limited (www.bpwealth.com) 21-10-2014

BP Equities reports are also available on website www.bpwealth.com 3

ASCENDING TRIANGLE BREAKOUT

UPSLOPING CHANNEL

SUPPORT 1 SUPPORT 2 SUPPORT 3 RESISTANCE 1 RESISTANCE 2 RESISTANCE 3

2280 2180 2040 2530 2600 2750


The stock has completed sideways corrective wave and is now expected to start a fresh impulse wave on the upside. Also the stock has given upward breakout of Ascending triangle after which the stock is expected to resume its previous upmove. We recommend to BUY BHARTIARTL at CMP 402 for the targets of 480-600 in long term.

BHARTI AIRTEL : COMPLETION OF CORRECTIVE WAVE, TARGET - 480/600




ASCENDING TRIANGLE BREAKOUT


370 330 280 440 480 580

THE STOCK HAS COMPLETED A SIDEWAYS CORRECTIVE WAVE AND IS NOW EXPECTED TO START A FRESH IMPULSE WAVE


The stock has reversed after getting support at the lower trend line which is drawn parallel to the upper trend line and is now expected to head towards the upper trend line. RSI has violated down sloping trend line and has formed positive divergence with price (marked by red lines) which is a bullish signal and supports the bullish view of price. We recommend to BUY BHEL at CMP of 228 for the targets of 330-380 in long term.

BHEL : PARALLEL CHANNEL, TARGET - 330/380




RSI HAS VIOLATED DOWNSLOPING TRENDLINE AND HAS FORMED POSITIVE DIVERGENCE WITH PRICE

PARALLEL TRENDLINES


190 170 140 270 330 380


The stock has reversed after taking support at the previous trough of the year 2009 and also it seems to have completed a corrective wave A-B-C, after completing this corrective wave now the stock is expected to retrace this wave initially towards 110-155 which are 38.20% & 61.80% retracement of this wave. We recommend to BUY IOB at CMP of 59.60 for the targets of 110-155 in long term.

IOB : COMPLETION OF CORRECTIVE WAVE, TARGET - 110/155





50 42 37 75 85 110


The stock has reversed after getting support around the previous trough of the year 2008 and now has given upward breakout from downsloping channel of four and a half years which is a bullish signal for long term trend. We recommend to BUY NTPC at CMP of 143.50 for the target of 190 in long term.

NTPC : LONG TERM CHANNEL BREAKOUT TARGET - 190





135 125 110 165 190 220

BREAKOUT FROM LONG TERM DOWNSLOPING PARALLEL CHANNEL OF 4 .5 YEARS


The stock has reversed after taking support around the lower trendline which is drawn parallel to the upper trendline and is now expected to head towards the up-per trendline. Also the stock seems to have completed a corrective wave A-B-C, after completing this corrective wave now the stock is expected to retrace this wave upwards. We recommend to BUY SAIL @ CMP of 78 for the targets of 120-150 in long term.

SAIL : COMPLETION OF CORRECTIVE WAVE, TARGET - 120/150





65 54 37 90 100 115

PARALLEL TRENDLINES

B P W E A LT H

Research Desk Tel: +91 22 61596464

Disclaimer Appendix

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long term breakouts monthly metastock

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