(Short Term Cash)
October 25, 2016
Gabriel India (NSE Cash)
BUY
` 115
` 123 - 124
` 140
14 - 21 Sessions
Daily Chart
Source: Falcon (Chart Time: 15:00 IST)
Justification:
The stock has given ‘Triangle’ breakout on weekly chart in July 2016 and rallied sharply towards `122.85
levels. However, post the rally, the stock is consolidating in a narrow range from last two months. Today, we
are witnessing a breakout from consolidation phase with healthy volumes, which further validates the criteria of
the breakout. The ‘RSI’ oscillator too is giving breakout from ‘Falling Trend line’ on daily chart, indicating
strength in the counter. Since, ‘Moving Averages’ are also placed positively along with other evidences; we are
expecting healthy up move in the counter. Thus, traders are advised to buy the stock at current levels and on
declines to `123 for a target of `140 in next 14-21 sessions. The stop loss for the trade set-up can be kept at
`115.
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October 25, 2016
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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