(Short Term Cash)
December 15, 2016
Indo Count Industries Ltd (ICIL) (NSE Cash)
162 - 163
14 - 21 Sessions
Source: Falcon (Chart Time: 10:05 IST)
The stock has seen decent price as well as time correction in last ten months. From last three weeks, stock is showing
some sign of strength and as a result the stock managed to close above the ‘Falling Trend line’ breakout level on
weekly chart. While on daily chart, the stock had given a breakout from ‘Double Bottom’ pattern. The ‘RSI’ oscillator
has given positive divergence and heading northwards on both daily and weekly chart, indicating reversal on cards.
Also, the set of moving average (E5, E20 and E89) are placed positively on both daily and weekly chart and thus
showing strength in the counter. Considering above technical evidences, we are expecting an upmove in the stock in
Thus, we advise traders to buy this stock at current levels and on declines to
162 for a target of
coming 14 - 21 sessions. The stop loss for this trade set up can be kept at
December 15, 2016
Last 14 recommendations
Recom. Buying/Selling Range CMP
135 - 136
113 - 114
53 - 53.70
Tata MTR DVR
297 - 301
484 - 488
1170 - 1180
Booked at 289.50
912 - 918
896 - 902
Revised SL to 912
395 - 398
102 - 103
Booked at 112.80
1170 - 1178
297 - 300
Revised SL to 314
306 - 310
Booked at 329
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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