January 19, 2017
Aban Offshore (NSE Cash)
248 - 250
14 - 21 Sessions
Source: Falcon (Time: 14:00 IST)
The volatile price movement in the stock since the month of October has led to formation of a ‘Symmetrical Triangular’
pattern on the daily chart. As seen in the exhibit, the prices are on the verge of breakout from the mentioned pattern.
The recent price move from 27
of December also resembles a ‘Flag’ pattern on the daily chart. The ‘RSI’ oscillator too
is showing a positive momentum and the ‘Parabolic SAR’ indicator is in ‘BUY’ mode. Hence, we are anticipating a
breakout and a sustained upmove in the stock in near term.
Thus, we advise traders to buy this stock at current levels
and on declines to
248 for a target of
276 in coming 14 - 21 sessions. The stop loss for this trade set up can be kept
022-3935 7600 Extn: 6554
January 19, 2017
Last 11 recommendations
CMP Target 1 Target 2 Stop-loss
217 - 219
457 - 461
58 - 58.50
127 - 128.25
652 - 656
190 - 192
192 - 195.50
Revise SL to 374
433 - 437
Revised SL to 435
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
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