BP

Technical Long Term Investment Ideas

Diwali Picks 2014 - Samvat 2071

WEALTH

Technical Long Term Investment Ideas

BP

WEALTH

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

Hansraj Modi - Sr. Technical Analyst

hansrajmodi@bpwealth.com, +91-22- 61596406

Sohil Gandhi - Technical Analyst

sohilgandhi@bpwealth.com, +91-22-61596173

Technical Long Term Investment Ideas

BP

WEALTH

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

ASCENDING TRIANGLE BREAKOUT

UPSLOPING CHANNEL

Period : Monthly, Source : Metastock, BP Equities

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 ) after 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.
SUPPORT 1

SUPPORT 2

SUPPORT 3

RESISTANCE 1

RESISTANCE 2

RESISTANCE 3

2280

2180

2040

2530

2600

2750

Institut ion al R esear ch

BP Equ itie s Pv t. Li mite d ( www.bp we alth. co m)

BP Equ itie s rep ort s are als o avail abl e o n web site www.bp wealt h.c om

21- 10- 2014

3

Technical Long Term Investment Ideas

BP

WEALTH

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

ASCENDING TRIANGLE BREAKOUT

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

Period : Monthly, Source : Metastock, BP Equities

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.
SUPPORT 1

SUPPORT 2

SUPPORT 3

RESISTANCE 1

RESISTANCE 2

RESISTANCE 3

370

330

280

440

480

580

Institut ion al R esear ch

BP Equ itie s Pv t. Li mite d ( www.bp we alth. co m)

BP Equ itie s rep ort s are als o avail abl e o n web site www.bp wealt h.c om

21- 10- 20 14
4

Technical Long Term Investment Ideas

BP

WEALTH

BHEL : PARALLEL CHANNEL, TARGET - 330/380

PARALLEL TRENDLINES

RSI HAS VIOLATED DOWNSLOPING TRENDLINE AND

HAS FORMED POSITIVE DIVERGENCE WITH PRICE

Period : Monthly, Source : Metastock, BP Equities

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.
SUPPORT 1

SUPPORT 2

SUPPORT 3

RESISTANCE 1

RESISTANCE 2

RESISTANCE 3

190

170

140

270

330

380

Institut ion al R esear ch

BP Equ itie s Pv t. Li mite d ( www.bp we alth. co m)

BP Equ itie s rep ort s are als o avail abl e o n web site www.bp wealt h.c om

21- 10- 20 14
5

Technical Long Term Investment Ideas

BP

WEALTH

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

Period : Monthly, Source : Metastock, BP Equities

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.
SUPPORT 1

SUPPORT 2

SUPPORT 3

RESISTANCE 1

RESISTANCE 2

RESISTANCE 3

50

42

37

75

85

110

Institut ion al R esear ch

BP Equ itie s Pv t. Li mite d ( www.bp we alth. co m)

BP Equ itie s rep ort s are als o avail abl e o n web site www.bp wealt h.c om

21- 10- 20 14
6

Technical Long Term Investment Ideas

BP

WEALTH

NTPC : LONG TERM CHANNEL BREAKOUT TARGET - 190

BREAKOUT FROM LONG TERM DOWNSLOPING

PARALLEL CHANNEL OF 4 .5 YEARS

Period : Monthly, Source : Metastock, BP Equities

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.

SUPPORT 1

SUPPORT 2

SUPPORT 3

RESISTANCE 1

RESISTANCE 2

RESISTANCE 3

135

125

110

165

190

220

Institut ion al R esear ch

BP Equ itie s Pv t. Li mite d ( www.bp we alth. co m)

BP Equ itie s rep ort s are als o avail abl e o n web site www.bp wealt h.c om

21- 10- 20 14
7

Technical Long Term Investment Ideas

BP

WEALTH

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

PARALLEL TRENDLINES

Period : Monthly, Source : Metastock, BP Equities

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 upper 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.
SUPPORT 1

SUPPORT 2

SUPPORT 3

RESISTANCE 1

RESISTANCE 2

RESISTANCE 3

65

54

37

90

100

115

Institut ion al R esear ch

BP Equ itie s Pv t. Li mite d ( www.bp we alth. co m)

BP Equ itie s rep ort s are als o avail abl e o n web site www.bp wealt h.c om

21- 10- 20 14
8

BP
Research Desk

Institutional Sales Desk

W E A LT H

Tel: +91 22 61596464

Tel: +91 22 61596403/04/05

Disclaimer Appendix
Analyst (s) holding in the Stock : Nil
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We analysts and the authors of this report, hereby certify that all of the views expressed in this research report accurately reflect our personal views about any and all of the subject
issuer (s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation (s) or view (s) in this report.
Analysts aren't registered as research analysts by FINRA and might not be an associated person of the BP Equities Pvt. Ltd. (Institutional Equities).
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