August 18, 2016
NMDC (NSE Cash)
BUY
` 98
` 106.50 - 105
` 121
2 Months
Weekly Chart
Source: Falcon (Chart Time: 09:40 IST)
Justification:
After undergoing a lot of pain in the recent years, this stock finally managed to form a low around 66.45 on
the month of February 2016. Since then, we have witnessed a decent recovery in the stock and the stock is now
on the verge of confirming a first sign of strength, which is the ‘Higher Top Higher Bottom’ formation on the
weekly chart. In addition, the ‘RSI-Smoothened’ oscillator has surpassed the 70 mark and is now moving
northwards, which we believe would provide an impetus for the next upward leg of the rally. The volume
activity too has picked up in last several weeks. Combining these few observations, traders are advised to buy
the stock at current levels and on a correction up to `105 for a target of `121 in next 2 months. The stop loss
for the trade set-up can be kept at `98.
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August 18, 2016
Last 7 recommendations
Date
Stocks
Recom. Buying/Selling Range
CMP Target 1
Target 2
Stop-loss
Status
17-08-16
Titan
BUY
409 - 405
402
443
-
389.50
Active
16-08-16
Divis Lab
BUY
1220 - 1230
1275
1345
-
1165
Active
12-08-16
SAIL
BUY
46.20 - 46
48.30
52
-
42.50
SL revised to 46.10
10-08-16
IFCI
BUY
26.80 - 26.50
27.20
30.50
-
24.90
Active
05-08-16
BHEL
BUY
138 - 137
139
153
-
131
Active
20-07-16
NCC
BUY
82 - 80
84
98
-
74
Active
18-07-16
M & M**
BUY
1462 - 1456
1464
1556
-
1410
Active
Source: Angel Research
**Dividend of ` 12/share adjusted
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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