| Best Stocks 2011 |
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DR ReDdy
Dr Reddy on daily chart has break out above 1740 levels. The resistance line drawn on the chart shows how many times Dr Reddy has taken resistance and RSI too has given crossover from the oversold zone meaning turn reversal is happening in this counter.
It is also trading above the lower Bollinger band meaning in future it will touch the upper Bollinger band.
Also RSI is in oversold zone and whenever it has given crossover from oversold zone we can see how much run Dr Reddy has taken.
Minimum Target would be 1850 on this counter. |
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CAIRN
Cairn Ltd has made inverse head and shoulder pattern and it has given breakout with volume.
Breakout has been done and it has closed 2 days above it consecutively and so technical target is 50 points more from here giving target of 405. |
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Bata India
Bata India had made 52 week and all time high with volume as seen in the charts.
Whenever a script makes 52 week high, we can expect 5-10% upmove from here minimum while for 5 year we can expect 20-30% upmove.
It has also made rounding bottom pattern and closed above the breakout. Considering that it has made 5 year high, we can put technical target of 480-520. |
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Sesa Goa
Sesa Goa has made formation of Rounding Bottom in daily chart.
On weekly chart, it has taken support at the lower Bollinger band and now is on the verge of trendline breakout.
RSI too on weekly chart has generated buy signal.
Minimum 100 points upmove can be considered on this counter giving target of 450-480. |
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GUJNRECOKE LTD
Gujnrecoke weekly chart with trendline breakout:-
From the above chart we can see that gujnrecoke has given breakout after a long consolidation period of almost 7 months. This stock has given breakout in the 1st week of 2011 and will prove to be one of the best returns giving stock in 2011. |
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Gujnrecoke weekly chart with xtl breakout
Also according to Jti and Xtl parameter, the stock has given 1st black bar on weekly chart after continuous downfall from april’ 2010 to November 2010. |
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Gujnrecoke weekly chart with retracement and mob
If we apply retracement from the lows of Sep’ 2009 to the highs of Jan’ 2010 we can see that the stock has very well managed to close above the retracement level of 66.7 which is 61.8% of the price range.
We now expect the stock to zoom upto 99 level ( 100% retracement level) in this year.
Also is the stock goes above the level of 99-100 then we expect the tgt of 123 in this year.
Our recommendation is to buy this stock for delivery at current rate for the tgt of 99-124 with sl of 52……………… |
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APIL
Apil daily chart with Elliot wave and xtl
Above is the daily chart of apil which shows that the stock is currently trading in 3rd wave.
As we all know according to Elliot wave theory the stock tends to move highest and fastest in its 3rd wave.
We can see that stock has just started trading in 3rd wave and it has full room to move up.
Also according to xtl breakout the stock has constructed 1st black and there after blue bar on daily chart, after a strong down rally of almost 2-3 months. |
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Apil daily chart withretracement
and volume breakout
If we apply retracement on the last downfall from oct 2010 highs to nov 2010 lows, we can see that the 50% retracement level comes out to be around 739.
Once the stock closes above 739 on daily chart it will zoom up to 777 and 900 level
Also we can see there is substantial volume increase from the past 2-3 days which suggests that the stock now has reversed its trend and is now ready to score new highs in 2011.
Our recommendation is to buy this stock in range of 710-720 for the tgt of 780/900 level with sl of 674. |
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AUROPHARMA
Auropharma daily chart triangle breakout
Auropharma is currently trading on its all time high level. It made high of 1350 on daily chart on 8th November 2010 and now again has crossed that level and also managed to close above that level.
According to technical analysis stock tends to move up to 10-20% once it crosses it all time high. All the technical indicators, oscillators also remain positive when the stock is on its life time high. So there is no indication to short the stock at these levels.
Auropharama has formed a triangle chart pattern on daily chart and has given breakout on 4th jan 2011.
This is the one stock which you can surely add to your portfolio in 2011 to given high and fast returns.
For short term the stock is for sure expected to move up almost 200-250 rs from the current level. |
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Auropharma daily chart triangle breakout
According to Elliot wave analysis the stock has just started trading in the 5th wave and we all know that the stock tends to move fastest in the 5th wave.
We recommend buying this stock on current level or if it gives chance to buy on dips for the tgt of 1700-1800 in very short term in 2011 with sl of 1270. |
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ITC
Itc has given flag break out on weekly charts.
It has given break out above 176.35.
Weekly closing above 176.35 will give a big move about almost 40 rs move from that level.
As it will break 181.8 level it will achieve all time high level.
It is expected from the stock to move atlest 20-25% move from its all time high level.
So the minimum target of itc above 177 will be 197 and the maximum will be 217.
Stop loss for the longs will be 169. |
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GLAXO
Glaxo has maintained a very good upmove and it is still intact with its upmove.
Stochastic and rsi is also positive. |
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Glaxo is forming rounding pattern in the weekly chart.
The breakout level will be above 2400.
Closing above 2400 will give atleat 300 points movement from that level.
The target is calculated on the basis of the depth of the pattern that is from 2399.9 to 2076.
Stop loss for the long position will be 2310. |
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HCL TECH
Hcl tech has given very long term very long term break out above 390 level.
It has shown a “v” shaped recovery in the fall.
Closing above 350 level had given the confirmation for almost 300 points that is the depth of the pattern.
The target is its all time high that is 749.5. So level of 700 is the mark it can achieve in this year of 2011.
Hcl tech belongs to a sector which is a out performer in nifty valuation.
Compare to other leaders like infosys and tcs hcl tech has still room to go and i think it will fill it very sharply. |
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SHORT TERM
For next few days HCL will be a performer of the it sector.
It has given a sharp channel breakout above 465 levels.
The length of the channel is 71 points.
The target will be 536 in very short term.
The stop loss for the long trade will be 448. |
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