.: Technical view by Nooresh on Sensex/Stocks/Commodities

Friday, 19 September 2014

Technical view by Nooresh on Sensex/Stocks/Commodities

HCL Infosys – Consolidating and setting up for a Breakout

Posted: 19 Sep 2014 01:30 AM PDT

HCL Infosys –

Disclosure – This is has been one of my favorite picks from the 30s and recommended in Big Value 1.0 and even at 67 in Big Value 2.0. Continue to hold it as a portfolio pick for next 1-2 years.

Fundamentally it is setting up for a major turnaround as per our view.

Technical View

-> Huge Volumes in 2014 in the price rise from 20-80 indicates very strong accumulation.

-> For the last 2-3 months the stock has been consolidating in a range of 73-86.

-> A sustaining move above 86-87 can give a short term spike to 100. A trading stoploss in that case would be 84.

-> Maintain a long term positive stance and keep it as a portfolio pick with 1-2 years view and no price target.

Meanwhile another conviction pick Hexaware Technologies which was discussed in this post has done a nice move from 150 to 195. Continue to like it for long term.

Even Aditya Birla Nuvo and Cipla have done well. Check charts – Link to post . Cipla did our target of 550-600 pretty quickly.

Escorts also is holding on nicely. Personally think the stock can surprise big time over the next few months.

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Do go through the detailed post -