May 10, 2017
Den Networks (NSE Cash)
102 - 103
14 - 21 sessions
Source: Falcon (Time: 14:15 IST)
Post a decent correction, the stock has formed a ‘Double Bottom’ pattern on both weekly and monthly chart and
rebounded piercingly. In the ongoing up move, the stock has made a ‘Higher High Higher Low’ formation on weekly
chart for the first time in last one year. Recently, the stock has given a breakout from couple of ‘Trend lines’ on weekly
chart (see exhibit) and managed to sustain above the same. However, follow-up buying was not that strong and as a
result, the stock is moving in a consolidation phase from last couple of weeks. The positive placement of moving averages
and ‘RSI’ oscillator are showing strength in the counter. Considering above technical evidences; we are expecting a
healthy rally in this counter.
we advise traders to buy this stock at current levels to a decline up to
102 for a
117 over the next 14 - 21 sessions. The stop loss should be fixed at
Jay Kumar Purohit
022-3935 7600 Extn: 6844
May 10, 2017
Last 14 recommendations
Recom. Buying/Selling Range CMP
520 - 525
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422 - 424
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Cox & Kings
224 - 227
1100 - 1108
1318 - 1325
1550 - 1560
2840 - 2855
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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