July 12, 2016
Tata Steel (NSE Cash)
340 - 342
14 - 21 sessions
Source: Falcon (Chart Time: 15:05 IST)
As shown in the above exhibit, the stock has given a breakout from the ‘Downward Sloping Channel’ on daily
chart. Since this move has come after a long consolidation, we expect the stock to resume its higher degree up
trend. The volume activity too has picked up to add more conviction to the breakout. Another notable
observation would be a confirmation of ‘1-2-3’ pattern on daily chart. Considering all these multiple technical
evidences along with the daily ‘RSI-Smoothened’ oscillator which has turned northwards, the stock is likely to
give a decent up move in the near term.
traders are advised to buy the stock at current levels and on a
340 for a target of
363 in next 14 - 21 sessions. The stop loss for the trade set-up can be kept
July 12, 2016
Last 10 recommendations
Recom. Buying/Selling Range
CMP Target 1
408 - 411
983 - 978
228 - 225
563 - 559
74.25 - 73
1184 - 1178
153 - 152
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock
Exchange Limited and Metropolitan Stock Exchange of India Limited. It is also registered as a Depository Participant with CDSL and Portfolio Manager
with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a registered entity with SEBI for Research
Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number INH000000164. Angel or its associates has not been debarred/
suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market. Angel or its associates including its relatives/analyst do
not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. Angel or its associates/analyst has not
received any compensation / managed or co-managed public offering of securities of the company covered by Analyst during the past twelve months.
Angel/analyst has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market making activity of
the company covered by Analyst.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in
this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem
necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits
and risks involved), and should consult their own advisors to determine the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as
opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be
true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel
Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person
from any inadvertent error in the information contained in this report. Angel Broking Pvt. Limited has not independently verified all the information
contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents
or data contained within this document. While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this
material, there may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or
passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection
with the use of this information.
Note: Please refer to the important ‘Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on
respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may have investment positions in the
stocks recommended in this report.