August 02, 2017
CanFin Home (NSE Cash)
3050 - 3065
5 - 10 sessions
Prices on the verge
of a breakdown
RSI slipped below
(Time: EOD as on August 01, 2017)
After witnessing a massive rally, this outperforming stock slipped into consolidation mode towards the fag end of the June.
Since then we have been witnessing sideways action with a slightly negative bias. Technically speaking, the stock prices slipped
below key short term moving averages on daily chart to confirm the negative crossover of ‘5 & 20 EMA’ combination. In
addition, the ‘RSI-Smoothened’ on weekly chart has now given a bearish crossover well inside the overbought territory for the
first time in last seven months. Considering all the above evidences, we expect a decent profit taking in the stock.
recommend selling this stock at current levels and on a bounce up to
3065 for a target of
2850 over the next 5 - 10
sessions. The stop loss should be fixed at
022-3935 7600 Extn: 6552
August 02, 2017
Last 10 recommendations
CMP Target 1 Target 2 Stop-loss
Bank of Baroda
165 - 167
141 - 143
808 - 814
207 - 208
154.75 - 156
104.50 - 105.50
583 - 587
3788 - 3808
Booked at 3880
1000 - 1009
167 - 168.50
*Britannia dividend adjusted price
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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