April 05, 2017
Canara Bank (NSE Cash)
BUY
` 297
` 306 - 309
` 330
5 - 10 sessions
Daily Chart
Source: Falcon (Time: 11.35 IST)
Justification:
We have been quite upbeat on entire PSU banking space since last four weeks. PNB, Union Bank, OBC and SBI have been
our preferred picks. Now, ‘Canara Bank’ seems very interesting if we look at the daily as well as weekly chart. The stock
prices have broken out on hourly chart from the hurdle of 308 along with healthy volumes. In addition, the ‘RSI-
Smoothened’ oscillator on daily chart has traversed the 70 mark in the upward direction, which we believe would provide
the impetus for the strong up move in the near term. Considering all the above technical evidences, we advise traders
to buy this stock at current levels to a decline up to `306 for a target of `330 over the next 5 to 10 sessions. The stop
loss should be fixed at `297.
Sameet Chavan
022-3935 7600 Extn: 6552
[email protected]
1
April 05, 2017
Last 14 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
05-04-17
Pidilite
BUY
714 - 718
720
760
-
694
Active
03-04-17
Jain Irrigation
BUY
97 - 98
102
108
-
92
Active
03-04-17
SAIL
BUY
62.75-63.25
65.25
71
-
59
Active
03-04-17
M&M
BUY
1290 - 1300
1278
1378
-
1254
Active
24-03-17
Federal Bank
BUY
89 - 90
-
99
-
85
Exited at 90.85
22-03-17
HCL Infosystem
BUY
54-54.50
57
63
-
50
Active
16-03-17
SRF
BUY
1605-1615
1676
1725
-
1550
Active
16-03-17
Tata Global
BUY
144-145
153
158
-
138
Active
15-03-17
Union Bank
BUY
150 - 151
157
163
-
143.50
Active
10-03-17
ICICI Bank
BUY
269-271
283
298
-
254.50
Active
06-03-17
Bajaj Auto
BUY
2840 - 2855
2784
3030
-
2748
Active
27-02-17
Wockhardt
BUY
725 - 732
773
808
-
688
Active
20-02-17
PNB
BUY
140 - 141
151
155
-
132.75
Active
09-02-17
PTC Ind
BUY
88 - 89
93.50
106
-
80
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a
registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number
INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing
/dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed public
offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate
the contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this
report. Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we
cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this
document. While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material,
there may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
2