April 21, 2017
MMTC (NSE Cash)
BUY
` 60.50
` 65.50 - 66
` 77
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 10.25 IST)
Justification:
The stock is moving in a sideways direction from last few weeks. Today, we are witnessing a breakout from the
consolidation phase (see the above exhibit). The set of moving averages (E5, E20 & E89) are placed positively on both
both daily and weekly chart, indicating strength in the counter. Also, the 'RSI' oscillator on the daily as well as the weekly
charts is entering the bullish territory (above 60 levels), and hence we are expecting continuation of the uptrend in near
term. Considering the ‘Trendline’ breakout along with rising momentum, we expect the stock to do well in the near term.
Thus, we advise traders to buy this stock at current levels to a decline up to `65.50 for a target of `77 over the next
14 to 21 sessions. The stop loss should be fixed at `60.50.
Jay Kumar Purohit
022-3935 7600 Extn: 6844
[email protected]
1
April 21, 2017
Last 13 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2
Stop-loss
Status
21-04-17
Siemens
BUY
1318 - 1325
1328
1430
-
1274
Active
19-04-17
ABFRL
BUY
178 - 179.50
180.50
196
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170
Active
18-04-17
Kesoram Ind
BUY
156 - 158
169
177
-
147
Active
18-04-17
Bank of Baroda
BUY
176 - 178
179
191
-
170.75
Active
11-04-17
Ambuja Cements
BUY
244 - 246
240
263
-
235
Active
06-04-17
Tata Elexi
BUY
1550 - 1560
1568
1700
-
1480
Active
05-04-17
Canara Bank
BUY
306 - 309
325
330
-
297
Active
05-04-17
Pidilite
BUY
714 - 718
717
760
-
694
Active
03-04-17
Jain Irrigation
BUY
97 - 98
-
108
-
92
Target Achieved
03-04-17
SAIL
BUY
62.75-63.25
61
71
-
59
Active
06-03-17
Bajaj Auto
BUY
2840 - 2855
2830
3030
-
2748
Active
27-02-17
Wockhardt
BUY
725 - 732
750
808
-
688
Active
09-02-17
PTC Ind
BUY
88 - 89
98
106
-
80
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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