(Short Term Cash)
November 18, 2016
Hero MotoCorp (NSE Cash)
BUY
` 2780
` 2910 - 2930
` 3180
14 - 21 Sessions
Weekly Chart
Strong support
zone
Source: Falcon (Chart Time: 11:25 IST)
Justification:
Similar to its peer counters, this stok too has witnessed a tremendous price correction in last couple of
months. In the process, the stock prices have now reached its strong support zone of daily ’89 EMA’ as well as
61.8% Fibonacci retracement level of the previous up move from 2538.94 to 3706.12. Today, we are seeing a
good traction in the counter and is now on the verge of surpassing its previous candle’s high, which can be
interpreted as a positive development. In addition, the ‘RSI Smoothened’ oscillator in hourly chart indicates a
possibility of a near term bounce in the counter. Hence, we advice traders to buy this stock at current
level and on declines to `2910 for a target of `3180 in coming 14 - 21 sessions. The stop loss for this
trade set up can be kept at `2780.
1
November 18, 2016
Last 7 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
16-11-16
Bharti Airtel
BUY
307 - 310
301
340
-
293
Active
16-11-16
Axis Bank
BUY
469 - 473
476
515
-
449
Active
16-11-16
Godrej Inds
BUY
379 - 383
382
414
-
365
Active
15-11-16
ICICI Bank
BUY
273 - 270
276
295
-
259
Active
15-11-16
Maruti
BUY
4860 - 4890
4960
5250
-
4670
Active
11-11-16
Just Dial
BUY
398 - 404
398
449
-
375
Active
11-11-16
Reliance Ind.
BUY
1014 - 1005
989
1080
-
974
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a
registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number
INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing
/dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed public
offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate
the contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this
report. Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we
cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this
document. While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material,
there may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
2