FINOLEX CABLES ABOUT TO BREAK MULTI YEAR RESISTANCE

 

Finolex Cables: Is the stock ready to run?

Is Finolex Cables stock ready to rally and breakout?

I HAD COVERD THE STOCK IN JULY   INITIATED A BUYhttp://trendzofmarket.blogspot.in/2013/07/finolex-cables-multi-bagger-stock-keep.html AT 52 WITH 65 TARGET NOW LETS RE-LOOK THE STRATEGY 

FIRST TRAGET 75 ACHIEVED TOLD TO BUY 2000 SHARES ONNOV 13 TH TO CLIENTS NO PROFIT HIT 22000 RS ROCKET CALL AGIAN ONLY FROM TRENDZOFMARKET

THIS STOCK IS NOW ALL POISED TO BREAK PAST 100 IN MONTHS TO COME THOSE INTERESTED CAN BUY THIS FOR MEDIUM TERM

HERE WAS MY MAIL IN 13 TH NOV

Here’s how the weekly chart looks -

There seems to be a weekly resistance of 65 built over many years. The resistance is well defined and hence breakout from such resistance will be very strong and vertical. Right now, stock is trading above breakout point but the momentum move has not yet started. 
The breakout depends on two factors: 1. Market Environment; and 2. Volume Buildup. Right now, both factors seem to be favoring Finolex Cables. The stock is clocking amazing volumes and breakouts are happening left, right and center. So, one cannot rule out the possibility of a vertical breakout in Finolex Cables.
How should one play?
One can Go Long at cmp of 64.50 with stop loss below 61.9. Now, remember Breakouts can work out in 1 day or it may take some weeks. One should exhibit patience and if breakout does workout – it may lead to strong upside move and rewarding gains.

BUY 2000 SHARES AT 65 SL 61.90  TGT 75-80+( TIME FRAME 4-6 WEEKS)