(Short Term Cash)
December 05, 2016
Asian Paints (NSE Cash)
BUY
` 868
` 912 - 918
` 1008
14 - 21 Sessions
Daily Chart
Source: Falcon (Chart Time: 09:35 IST)
Justification:
Of late, we saw a relentless correction of nearly 25% from its all time high of 1327.19 in a span of merely two months.
However, this correction halted after approaching the weekly ’89 EMA’ placed around 915. The stock prices
consolidated around this strong support for nearly three weeks and now we are observing some early signs of forming
a base with a medium term perspective. Today, the stock prices have rebounded sharply after testing the ‘Parabolic
SAR’ on daily chart, which turned into a ‘Buy’ mode due to recent up move. In addition, the ‘RSI-Smoothened’
momentum oscillator has started moving northwards from the extreme oversold territory. Thus, we advise traders to
buy this stock at current levels and on declines to `912 for a target of `1008 in coming 14 - 21 sessions. The stop loss
for this trade set up can be kept at `868.
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December 05, 2016
Last 12 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
30-11-16
JSW Steel
BUY
1720 - 1735
-
1880
-
1650
SL Triggered
29-11-16
Biocon
BUY
896 - 902
898
990
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853
Active
29-11-16
Castrol
BUY
395 - 398
398
428
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381
Active
25-11-16
DHFL
BUY
232 - 235
-
265
-
218
Booked at 251
25-11-16
KTK Bank
BUY
102 - 103
107
118
-
94
Active
24-11-16
HDFC Bank
BUY
1170 - 1178
1183
1259
-
1135
Active
22-11-16
Voltas
BUY
297 - 300
308
334
-
282
Active
22-11-16
Titan
BUY
306 - 310
315
348
-
289
Active
18-11-16
Heromotoco
BUY
2910 - 2930
-
3180
-
2780
Target Achieved
16-11-16
Bharti Airtel
BUY
307 - 310
-
340
-
293
Booked at 323
16-11-16
Axis Bank
BUY
469 - 473
458
515
-
449
Active
11-11-16
Reliance Ind.
BUY
1014 - 1005
994
1080
-
974
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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