October 04, 2016
Capital First Ltd (NSE Cash)
BUY
` 670
` 735 - 730
` 860
2 Months
Daily Chart
Source: Falcon (Chart Time: 09:17 IST)
Justification:
The stock had tremendous rally in the time of March 2016 to July 2016. Post the sharp up move, the stock has
started moving in sideways direction. The consolidation phase of last two months has resulted into formation of
a ‘Bullish Flag’ pattern on daily chart. Yesterday, we witnessed a breakout from the mentioned pattern with
healthy volumes. The ‘RSI - smoothened’ oscillator is also indicating further correction in the counter. Since, a
set of ‘Moving Averages’ and ‘PSAR’ indicator is placed positively, we are expecting resumption in the up trend.
Considering above technical evidences, traders are advised to buy the stock at current levels and on declines to
`730 for a target of `860 in next 2 months. The stop loss for the trade set-up can be kept at `670.
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October 04, 2016
Last 5 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2
Stop-loss
Status
03-10-16
SBI
SELL
256 - 258
255.70
241
-
264
Active
30-09-16
L&T
SELL
1412 - 1420
-
1320
-
1472
SL Triggered
30-09-16
REL Capital
SELL
542 - 538
-
498
-
561
SL Triggered
29-09-16
ACC
SELL
1588 - 1595
-
1510
-
1633
SL Triggered
20-09-16
Bajaj Auto
SELL
2880 - 2900
2903
2660
-
3010
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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