(Short Term Cash)
December 05, 2016
M&M (NSE Cash)
BUY
` 1130
` 1170 - 1180
` 1260
14 - 21 Sessions
Weekly Chart
Source: Falcon (Chart Time: 14:20 IST)
Justification:
In last four months, we saw a relentless correction in the stock of nearly 25% from its all time high of 1508.95. The
prices are currently trading near the ‘200 SMA’ support on weekly charts. The ‘RSI’ oscillator has started moving
northwards from the oversold territory. Further, if we observe the recent price movement on the hourly chart, the
stock seem to have formed a ‘Falling Wedge’ pattern and prices are indicating initial signs of breakout from the
mentioned reversal pattern. The above indicators are indicating higher probability of a pullback move in the stock in
near term. Thus, we advise traders to buy this stock at current levels and on declines to `1170 for a target of `1260
in coming 14 - 21 sessions. The stop loss for this trade set up can be kept at `1130.
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December 05, 2016
Last 12 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
05-12-16
M&M Fin
BUY
267-270
271
295
-
255
Active
05-12-16
Asian Paints
BUY
912 - 918
939
1008
-
868
Active
30-11-16
JSW Steel
BUY
1720 - 1735
-
1880
-
1650
SL Triggered
29-11-16
Biocon
BUY
896 - 902
918
990
-
853
Active
29-11-16
Castrol
BUY
395 - 398
400
428
-
381
Active
25-11-16
DHFL
BUY
232 - 235
-
265
-
218
Booked at 251
25-11-16
KTK Bank
BUY
102 - 103
107
118
-
94
Active
24-11-16
HDFC Bank
BUY
1170 - 1178
1190
1259
-
1135
Active
22-11-16
Voltas
BUY
297 - 300
306
334
-
282
Active
22-11-16
Titan
BUY
306 - 310
320
348
-
289
Active
16-11-16
Axis Bank
BUY
469 - 473
464
515
-
449
Active
11-11-16
Reliance Ind.
BUY
1014 - 1005
996
1080
-
974
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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