.: Technical view by Nooresh

Wednesday 2 January 2013

Posted: 01 Jan 2013 11:56 PM PST

tv 18 – the stock has become a darling of traders.

Will we see another 10-15% jump on a breakout above 34.5-35. Seems possible

Posted: 01 Jan 2013 09:28 PM PST

We are seeing the darlngs of 2006-2007 and most hated stocks of 2008-2012 to be making a major come back.

The two stocks which have confirmed such breakouts are Indiabulls Financial Services and Reliance Capital.

Both can surprise with 20% upside. But with the volatility one may need deeper stoplosses.

Indiabulls breaking out of a 2-3 yr channel. An optimistic target could even be a double from here but one can keep a conservative target of 400.

Reliance Capital has also confirmed a cup and handle breakout which gives us a minimum target of 600-650.

Do note that both the stocks are high beta and may need deeper stoplosses and bigger targets. So do your risk management.

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