July 18, 2016
Ceat (NSE Cash)
BUY
` 841
` 872 - 877
` 943
14 - 21 sessions
Hourly Chart
Source: Falcon (Chart Time: IST 10.00)
Justification:
On June 24, 2016, we saw this stock forming a ‘Bullish Hammer’ pattern after hitting a new ’52-week Low’ of
730. This level coincided with the 127% Fibonacci retracement level of the previous up move and thus, can be
considered as a strong support zone. Post this development; we witnessed a decent rally followed by some
consolidation. Now, if look at the hourly chart, we are sensing a possibility of resuming its recent uptrend. The
stock is on the verge of confirming a breakout from the recent hurdle of 883 and thus, going by these multiple
positive indicators, we expect the stock to climb higher in the near term. Thus, traders are advised to buy the
stock at current levels and on declines up to `872 for a target of `943 in next 14 - 21 sessions. The stop loss
for the trade set-up can be kept at `841.
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July 18, 2016
Last 10 recommendations
Date
Stocks
Recom. Buying/Selling Range
CMP Target 1
Target 2
Stop-loss
Status
18-07-16
M & M
BUY
1474 - 1468
1474
1568
-
1422
Active
14-07-16
BEML
BUY
900 - 912
949
1020
-
845
Active
12-07-16
Tata Steel
BUY
340 - 342
-
363
-
328.50
Booked at 356
11-07-16
Asian Paints
BUY
1030-1020
1043
1130
-
975
Active
11-07-16
Rel capital
BUY
408 - 411
413
436
-
396
Active
08-07-16
Reliance Inds
BUY
983 - 978
-
1042
-
952
Booked at 1035
05-07-16
Aban Offshore
BUY
228 - 225
231
260
-
210
Active
01-07-16
Tata Power
BUY
74.25 - 73
71.80
80
-
71
Active
01-07-16
HDFC Bank
BUY
1184 - 1178
-
1232
-
1158
Booked at 1221
01-07-16
Apollo Tyre
BUY
153 - 152
157
163
-
147
SL revised to 155.50
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552/54) Website: www.angelbroking.com Email: [email protected]
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