September 19, 2016
Lupin (NSE Cash)
BUY
` 1455
` 1542 - 1530
` 1700
2 Months
Weekly Chart
Source: Falcon (Chart Time: 12:30 on September 19, 2016)
Justification:
The stock has recently formed a ‘Higher Top Higher Bottom’ on daily charts. In recent corrective move, the
stock has taken support near the 78.6% retracement support of the previous upmove. The trend following
indicators, viz. ‘SuperTrend’ and the ‘Parabolic SAR’ are in ‘BUY’ mode on daily as well as weekly charts. If we
observe the ‘RSI’ oscillator placement on monthly charts, the oscillator has taken support near the level of 45
on corrective moves during last 13 years. The ‘RSI’ on monthly charts is currently placed near the mentioned
support. Considering these evidences, we are expecting resumption of the uptrend and the stock provides a
good risk reward ratio for long positions at current levels. We advise traders to buy the stock at current
levels and on a correction up to `1530 for a target of `1700 in next 2 months. The stop loss for the
trade set-up can be kept at `1455.
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September 19, 2016
Last 10 recommendations
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Target 2
Stop-loss
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181
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236
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184
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330 - 327
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07-09-16
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587 - 590
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550
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607
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02-09-16
Just Dial
BUY
475 - 479
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549
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444
Exited at 478
02-09-16
Ceat
BUY
920 - 915
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1010
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867
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01-09-16
Coal India
BUY
334 - 337
328
370
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320
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765 - 761
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818
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733
Booked Profit at 808
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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