(Short Term Cash)
October 19 2016
Idea (NSE Cash)
BUY
` 67
` 75 - 74
` 92
2 months
Monthly Chart
Source: Falcon (Chart Time: 09:23 IST)
Justification:
In last one year, the stock has corrected significantly from its all time high of 201.70 registered in the month
of April 2015. Although the trend for the stock remains down, the prices are currently trading near the long
term support seen in range of 71-75. Also, the stock has formed a ‘Bullish Shark’ pattern on monthly chart
and prices are currently trading near the PRZ of the pattern. Since a bullish harmonic pattern has been formed
on monthly chart and PRZ of the same coincides with the long term support, we are anticipating a pullback
move in the stock in next couple of months. Thus, traders are advised to buy the stock at current levels
and on declines to `74 for a target of `92 in next 2 months. The stop loss for the trade set-up can be
kept at `67.
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October 19, 2016
Last 8 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
17-10-16
MCDOWELL-N
BUY
2430 - 2420
2432
2620
-
2320
Active
14-10-16
CESC
SELL
594 - 598
612
545
-
625
Active
13-10-16
Glenmark Pharma
SELL
910 - 905
-
860
-
932
SL Triggered
10-10-16
Bata
BUY
504 - 500
495
554
-
475
Active
06-10-16
Bosch
BUY
23400 - 23350
-
24775
-
22590
SL Triggered
06-10-16
Torrent Pharma
BUY
1690 - 1680
1621
1890
-
1575
Active
05-10-16
Tata Coffee
BUY
133 - 131
-
148
-
124
Booked Profit at 144
04-10-16
Capital First
BUY
735 - 730
763
860
-
670
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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