August 31, 2017
` 137
` 143 - 145
` 159
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 12.10 IST)
Of late, we saw v-shaped recovery in this stock from lower levels of 115 in a span of two weeks. Importantly, this resurgence
has happened with a significant increase in volumes; indicating tremendous buying interest in the traders’ community for this
counter. Yesterday, the stock managed to traverse the trend line resistance zone of 140 convincingly. In addition, the ‘RSI-
Smoothened’ on daily time frame is heading northwards above the 70 mark. Considering these technical evidences and the
way volumes picked up, we expect this stock to continue its outperformance. Thus, we recommend buying this stock at
current levels and on corrections up to `143 for a target of `159 over the next 14 - 21 sessions. The stop loss should be
fixed at `137.
Sameet Chavan
022-3935 7600 Extn: 6552
[email protected]
August 31, 2017
Last 3 recommendations
CMP Target 1 Target 2 Stop-loss
178 - 180
Booked Profit at 191.50
Pidilite Ind
815 - 820
Bharat Financial
853 - 862
Source: Angel Research
Research Team Tel: 022 - 4000 3600
Email: [email protected]
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