July 31, 2017
Radico (NSE Cash)
BUY
` 132
` 141 - 143
` 159
14 - 21 sessions
Daily Chart
Inverse Head &
Shoulder
Rising Volumes
Source: Falcon (Time: 10:10 IST)
Justification:
Recently, this stock underwent a strong consolidation phase during which every attempt towards 138 - 140 was getting sold
into. However, today, we saw strong follow up buying interest post Friday’s sturdy closing; leading to a confirmation of ‘Inverse
Head and Shoulder’ pattern on daily chart. This price activity is accompanied by higher than average daily volumes, which
certainly is an encouraging sign. In addition, some of the key moving averages along with the technical indicators are still
maintaining their upward trajectory. Thus, we recommend buying this stock at current levels and on decline up to `141
for a target of `159 over the next 14 - 21 sessions. The stop loss should be fixed at `132.
Sameet Chavan
022-3935 7600 Extn: 6552
[email protected]
1
July 31, 2017
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*Britannia dividend adjusted price
Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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