July 08, 2016
Reliance Ind. (NSE Cash)
983 - 978
14 - 21 sessions
Source: Falcon (Chart Time: 10:19 IST)
Recently, after a long consolidation, we witnessed a breakout from the ‘Downward Sloping Trend Line’ around
980 on a closing basis. However, after a small up move, the stock prices corrected a bit to test the breakout
point, which coincides with daily ’89 EMA’ as well as ‘5 EMA’. We believe this could be a very good buying
opportunity as the stock entered a new ‘Time Zone’ (of 34 days) as per the ‘Fibonacci Time Series’ on July 01,
2016. Considering daily and weekly char structure, we expect this zone to be a bullish zone and hence, the
stock may give a decent upward rally in the near term.
Going by these technical evidences,
we advise traders
to buy this stock at current levels and on declines up to
978 for a target of
1042. The stop loss for the trade
set-up can be kept at
July 08, 2016
Last 8 recommendations
Recom. Buying/Selling Range
CMP Target 1
225 - 228
563 - 559
553 - 549
557 - 552
395 - 382
74.25 - 73
1184 - 1178
153 - 152
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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 of India 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 including its relatives/analyst do
not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. 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.
Angel/analyst has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market making activity of
the company covered by Analyst.
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.
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.
Note: Please refer to the important ‘Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on
respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may have investment positions in the
stocks recommended in this report.