HINDALCO

The stock has consolidated in the range of 100 to 125 for almost 30 weeks forming Inverse Head and Shoulders (with double shoulders) and has given a breakout at 125 and also completed pull back forming a small descending triangle pattern and today broken upside the descending triangle with volume and so comfortable target for the stock would be minimum 150 in a short term.  All other indicators are also quite favourable for a consistent up move and the stock is trading above all major moving averages.  One can go for an immediate buy into this stock with a short term persepective.

MY SINCERE WISHES FOR A VERY PROSPEROUS NEW YEAR 2013 TO EVERYONE OF YOU

IDEA

Idea has given major horizontal breakout on daily, weekly and monthly charts and now sustaining at this range of 103-104 levels and may give further upside.  The stock is trading above all the moving averages also and may trigger for the next leg of rally.   Target price is 112-116-120 in coming weeks.  Delivery volume is also rising suggesting strength.  Advised to buy Jan Futures in the range of 102-104 for the above targets.

ACC

DESCENDING TRIANGLE BREAKOUT:

After a consistent upmove the stock has consolidated for almost three months within a descending triangle pattern and now ready for a breakout from the descending traingle pattern which is one of the highly successful continuation pattern and one can consider buying above 1425 for a target price of 1550 with a medium term perspective.  

GAIL

HEAD AND SHOULDER FAILURE PATTERN:

The above daily chart of GAIL is a typical example of failure of Head and Shoulder pattern as evident from my markings on the chart since trades are happening above the neckline for almost about a month and now it is poised for a breakout as confirmed by other indicators.

When price trades above the neckline, it is a first sign of failure. The confirmation of failure occurs when the price trades above the second shoulder high. So one can go long above Rs.360 which is  confirmation of head and shoulder failure setup. Most pattern failures make strong moves in the opposite direction.  First Target is the height of head from neckline i.e., 360 + 60 = 420 and second target is 162% and third target is 200% of the height from second shoulder high.  So the stock can move upto 480 also in the medium term.

SUN PHARMA

This scrip is forming higher tops and higher bottoms for the last six months and changing the channels and consolidating and now it may hit a target of 800 (SL of 725 can be maintained safer side).  Good investment with a medium term perspective.  Can be purchased in cash or Jan futures.