August 04, 2016
Bharti Airtel (NSE Cash)
BUY
` 347
` 361 - 359
` 385
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 13:40 IST)
Justification:
Since last four months, the stock has been consolidating in a channel as shown in above chart. Post corrective
move in last few sessions, prices are currently trading near the lower end of the channel. The channel support
also coincides with the ‘89EMA’ on daily and weekly charts. The ‘SuperTrend’ indicator on daily and weekly
chart is in ‘Buy’ code. The ‘Stochastic’ oscillator on daily charts is giving positive crossover from its average.
Considering the placed of the above mentioned indicators, we are expecting the stock to pullback higher
from current support zone. Hence, traders are advised to buy the stock at current levels and on a
correction up to `359 for a target of `385 in next 14 - 21 sessions. The stop loss for the trade set-up
can be kept at `347.
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August 04, 2016
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98
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M & M**
BUY
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1445
1556
-
1410
Active
Source: Angel Research
**Dividend of ` 12/share adjusted
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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