(Short Term Cash)
December 08, 2016
Tata MTR DVR (NSE Cash)
297 - 301
14 - 21 Sessions
Source: Falcon (Chart Time: 09:50 IST)
Due to some global concerns, this stock had undergone a lot of stress along with ‘Tata Motors’ in the recent past.
However, prices seem to have stabilised around the weekly ’89-EMA’ placed at 297. Last week, we saw a formation of
‘Doji’ pattern around the mentioned support zone. This pattern has now been confirmed as thus, we expect a decent
recovery in prices. Today, we are witnessing a breakout on hourly chart with rise in volumes. In addition, the ‘RSI-
Smoothened’ oscillator is now pointing northwards, which we believe would lead to a strong bounce.
Thus, we advise
traders to buy this stock at current levels and on declines to
297 for a target of
324 in coming 14 - 21 sessions. The
stop loss for this trade set up can be kept at
December 08, 2016
Last 12 recommendations
CMP Target 1 Target 2 Stop-loss
484 - 488
1170 - 1180
912 - 918
896 - 902
395 - 398
102 - 103
1170 - 1178
297 - 300
306 - 310
Revise SL to 320
469 - 473
1014 - 1005
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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