Nilkamal (NILPLA): Dawn of a new uptrend ::ICICI Securities, link

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• The share price of Nilkamal resolved above its 2007 and 2010 peaks
(~| 405) during December 2014 to signal a major turnaround on larger
degree price charts. The overcoming of a multi-year supply barrier above
| 405 by the share price signals a structural shift in favour of bulls and has
larger positive implications for the stock, going forward
• The first major indication of bulls regaining control of the larger trend is
reflected in the velocity of the current up move from late 2013 till date.
The stock completely overhauled its preceding 12 quarter decline (2010-
13) in just five quarters suggesting a faster pace of retracement and
reaffirmed a bullish price structure
• The swing lows of 2013 got anchored at the key long term trend line
running through 2001 and 2009 lows maintaining rising peak and trough
formation on longer time interval charts. The breakout into new life-time
highs during the current month provides the Dow Theory confirmation of
a long term bull trend
• The positive price structure is further augmented by the behaviour of
volumes, which surged more than twice the 12 quarter average (23 lakh
shares) during the recent breakout highlighting strong participation and
augurs well for the longevity of the current bull trend
• Magnitude of the current rally during 2013-14 has already achieved parity
with the 2009-10 bull run. Going forward, we expect the rally to extend
towards 138.2% extension of 2009-10 rally (| 37-405) as projected from
March 2014 lows of | 134 providing a target of | 660
Call has been initiated on i-Click to Gain on December 18, 2014 at 12:25 hrs

LINK
http://content.icicidirect.com/mailimages/IDirect_TechnicalOutlook_2015.pdf