August 18, 2017
Ashok Leyland August Fut.
SELL
` 107.20
` 103.75 - 104.50
` 97
5 - 10 sessions
Daily Chart
Source: Falcon (Time: 12:10 IST)
Justification:
Within the Auto setor, this stock has recently given good returns and has been one of the outperforming stocks. However,
during last week, the prices have corrected from the recent highs and the ‘5EDEMA’ has given a negative crossover from’20
DEMA’. During the pullback move in this week, the prices have managed to retrace just 50% of the correction and the ‘RSI’
oscillator on the daily chart has resumed its southward momentum. Hence, we believe that prices would show another leg of
corrective move in next few trading sessions. Thus, we recommend selling this stock at current levels and on a bounce up
to `104.50 for a target of `97 over the next 5 - 10 sessions. The stop loss should be fixed at `107.20.
Ruchit Jain
022-3935 7600 Extn: 6554
[email protected]
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August 18, 2017
Previous 5 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
18-08-17
DHFL Aug. Fut
SELL
446 - 449
442
418
-
464
Active
11-08-17
Engineers Ind. Aug. Fut
SELL
149.50 - 150.50
151
131
-
159
Active
10-08-17
NCC Aug. Fut
SELL
85.50 - 86.50
-
78
-
89.50
SL triggered
10-08-17
SRTRANSFIN Aug. Fut.
SELL
944 - 950
-
895
-
974
SL Triggered
10-08-17
Castrol Ind. Aug Fut
SELL
383-385
381.50
356
-
397
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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