October 03, 2016
SBI (NSE Cash)
SELL
` 264
` 256 - 258
` 241
5 - 10 Sessions
Daily Chart
Source: Falcon (Chart Time: 09:22 IST)
Justification:
The stock has resisted around the 88.60% retracement levels of the entire fall from `287.95 to `146.30 levels
on weekly chart and started correcting from last few sessions. On Thursday, the stock has breached its crucial
support of ‘Super Trend’ indicator on daily chart and managed to close below the same, which indicates that
the short trend has been changed. Due to the bounce in last two sessions, we are witnessing a formation of a
Bearish Harmonic Pattern named ‘Bearish Shark’ on intraday chart. The Potential Reversal Zone (PRZ) of the
same is placed at `256.40 - `257.40 levels. We are also witnessing a negative crossover between ‘5EMA’ and
‘20EMA’ on daily chart. The ‘RSI - smoothened’ oscillator is also indicating further correction in the counter.
Considering above technical evidences, traders are advised to sell the stock at current levels and on rise to
`258 for a target of `241 in next 5 - 10 sessions. The stop loss for the trade set-up can be kept at `264.
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October 03, 2016
Last 10 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2
Stop-loss
Status
30-09-16
L&T
SELL
1412 - 1420
1444
1320
-
1472
Active
30-09-16
REL Capital
SELL
542 - 538
553
498
-
561
Active
29-09-16
ACC
SELL
1588 - 1595
1608
1510
-
1633
Active
29-09-16
Mcdowell-N
BUY
2435-2420
-
2665
-
2300
SL Triggered
27-09-16
Hind Petro
SELL
433 - 435
-
410
-
445
Target Achieved
21-09-16
Titan
BUY
406 - 403
-
435
-
390
SL Triggered
20-09-16
Bajaj Auto
SELL
2880 - 2900
2863
2660
-
3010
Active
19-09-16
Lupin
BUY
1542 - 1530
-
1700
-
1455
SL Triggered
16-09-16
Maruti Suzuki
SELL
5565 - 5540
-
5210
-
5662
SL Triggered
15-09-16
Glenmark Pharma
BUY
900 - 895
-
980
-
855
Booked Profit at 915
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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