(Short Term Cash)
December 19, 2016
Chambal Fertilizers (NSE Cash)
BUY
` 65
` 69 - 71
` 82
2 months
Weekly Chart
Source: Falcon (Chart Time: 11:55 IST)
Justification:
Since last two years, the stock has been consolidating in a broad range. Recently, the stock has move higher which is
supported with higher volumes. The prices have given breakout from the range, if observed on the line chart. The
‘5&20 EMA’ combination on daily chart is indicating a short term uptrend and the ‘RSI Smoothened’ oscillator, too, is
indicating positive momentum. Considering the above technical evidences, we are expecting the stock to move higher
in next two months. Thus, we advise traders to buy this stock at current levels and on declines to `69 for a target of
`82 in coming 2 months. The stop loss for this trade set up can be kept at `65.
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December 19, 2016
Last 11 recommendations
Buying/Selling
Date
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282
Revised SL to 314
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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