August 23, 2017
Pidilite Ind (NSE Cash)
BUY
` 792
` 815 - 820
` 880
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 14.35 IST)
Justification:
Since last few weeks, the stock has been trading in a range forming a consolidation pattern known as ‘DESCENDING
TRIANGLE’. At current juncture, prices are trading above the higher range indicating a bullish breakout. The volume activity has
been decent in the recent past supporting the breakout. Multiple time frame analysis with monthly RSI and weekly RSI above 70
and daily RSI near 50 indicates current consolidation as a buying opportunity. Thus, we recommend buying this stock at current
levels and on corrections up to `815 for a target of `880 over the next 14 - 21 sessions. The stop loss should be fixed at `792.
Rajesh Bhosale
022-3935 7600 Extn: 6844
[email protected]
1
August 23, 2017
Last 7 recommendations
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ARVIND
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376 - 379
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Tata MTRDVR
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256 - 258
-
237
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267.55
Booked Profit at 242.70
03-08-17
Havells
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481 - 485
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520
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465
SL Triggered
02-08-17
Can Fin Home
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159
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132
Booked Profit at 146.30
Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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