February 20, 2017
PNB (NSE Cash)
BUY
` 132.75
` 140 - 141
` 155
14 to 21 sessions
Daily Chart
Source: Falcon (Time: 09:45 IST)
Justification:
Recently, we witnessed a stupendous rally in the stock from the beginning of new calendar year along with its peer
counters. This was followed by a decent profit booking after posting a high of 155.70 on February 07, 2017. Now, the
stock seems to have completed its 38.2% Fibonacci retracement of the entire up move from 112 to 155.70. We believe
that the corrective move is over now; because, generally we observe shorter corrective moves (38.2%) in a strong up
trend. Also, the stock has been reluctant to fall below the ’20 Day EMA’ since last 4 - 5 days, which we can interpret as a
multiple resistance zone. Looking at the ‘Positive divergence’ in ‘RSI-Smoothened’ on hourly chart, we expect a
resumption of recent uptrend quite soon. Thus, we advise traders buy this stock at current levels to a decline up to
`140 for a target of `155 over the next 14 to 21 sessions. The stop loss should be fixed at `132.75.
Sameet Chavan
022-3935 7600 Extn: 6552
[email protected]
1
February 20, 2017
Last 10 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
14-02-17
Tata Motors
BUY
490 - 500
-
550
-
470
SL Triggered
13-02-17
Siemens
BUY
1190 - 1200
1212
1290
-
1148
Active
13-02-17
The India Cements
SELL
160 - 161
163
148
-
167.30
Active
09-02-17
Motherson Sumi
BUY
346 - 349
352
376
-
333
Active
09-02-17
PTC Ind
BUY
88 - 89
87.50
106
-
80
Active
06-02-17
M&M Financial
BUY
301-304
-
335
-
287
SL Triggered
02-02-17
KTK Bank
BUY
117 - 118
116
129
-
112.25
Active
02-02-17
Berger Paints
BUY
219-221
225
242
-
209
Active
02-02-17
Axis Bank
BUY
482-486
487
532
-
459
Active
27-01-17
Petronet
BUY
381 - 384
406
415
-
366
SL revise to 390
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
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