(Short Term Cash)
November 10, 2016
Max Financial Services (NSE Cash)
BUY
` 533
` 575 - 571
` 645
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 10:55 IST)
Justification:
On longer term charts, the stock has been forming ‘Higher Top Higher Bottom’ structure and is thus in an
uptrend. Since last one month, the stock has been consolidating in a narrow range and the consolidation just
seems to be a time-wise correction within an uptrend. In today’s session, prices haven breakout from a falling
trendline resistance which can be seen in the exhibit. Also, the ‘5 DEMA’ is indicating positive crossover to ’20
DEMA’ and the ‘RSI Smoothened’ oscillator has given a positive crossover. Thus, going ahead, we are
expecting resumption of the uptrend in the stock. Traders are advised to buy this stock at current levels
and on a decline up to `571 for a target of `645 in coming 14-21 sessions. The stop loss for this trade
set up can be kept at `533.
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November 10, 2016
Last 8 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
08-11-16
CRISIL
BUY
2190 - 2210
-
2350
-
2140
SL Triggered
03-11-16
BPCL
SELL
650 - 655
664
612
-
672
Active
02-11-16
Maruti Suzuki
SELL
5790 - 5820
-
5460
-
5982
Target Achieved
02-11-16
PFS
BUY
41.50 - 40.50
-
48
-
38
SL Triggered
02-11-16
PFC
SELL
119.50 - 120
-
112.50
-
123.80
Booked Profit at 113.90
27-10-16
Shriram Transport
SELL
1110 - 1100
-
1030
-
1146
Target Achieved
25-10-16
Gabriel India
BUY
123 - 124
-
140
-
115
SL Triggered
20-10-16
Idea
BUY
75 - 74
-
92
-
67
SL Triggered
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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