(Short Term Cash)
November 02, 2016
Maruti Suzuki (NSE Cash)
SELL
` 5982
` 5790 - 5820
` 5460
5 - 10 Sessions
Daily Chart
Source: Falcon (Chart Time: 11:40 IST)
Justification:
We have witnessed a spectacular gravity-defying rally in this stock in last eight months after posting a 52-
week low of `3170.57 in the month of February 2016. Honestly speaking, of late, this stock has surprised us
with its relentless upward move. However, we still maintain our cautious stance on the stock purely with a
near term perspective. This view has been formed mainly on the back of a prolonged ‘Negative Divergence’ in
daily ‘RSI-Smoothened’ oscillator. On addition, the stock has been facing resistance around the higher end of
the ‘Rising Wedge’ pattern on daily chart placed around `5980. Going by hourly chart structure; we advice
traders to sell this stock at current levels and on a bounce up to `5820 for a target of `5460 in coming
5-10 sessions. The stop loss for this trade set up can be kept at `5982.
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November 02, 2016
Last 9 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
02-11-16
PFS
BUY
41.50 - 40.50
41.35
48
-
38
Active
02-11-16
PFC
SELL
119.50 - 120
119.50
112.50
-
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Active
01-11-16
Engineers India
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272 - 270
263
293
-
261
Active
27-10-16
Shriram Transport
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1110 - 1100
1053
1030
-
1146
Active
25-10-16
Gabriel India
BUY
123 - 124
122
140
-
115
Active
24-10-16
JK Paper
BUY
83 - 82
-
96
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76
Profit Booked at 94.25
24-10-16
Kotak Bank
BUY
780 - 785
-
830
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763
Profit Booked at 810
24-10-16
KPIT Tech
BUY
140 - 141
-
156
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132
Profit Booked at 144.50
20-10-16
Idea
BUY
75 - 74
75
92
-
67
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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