(Short Term Cash)
January 12, 2017
Tata Comm Ltd (NSE Cash)
BUY
` 623
` 652 - 656
` 723
14 - 21 Sessions
Daily Chart
Source: Falcon (Time : 13:20 IST)
Justification:
Post the sharp rally from `322 to `687.90, the stock has seen decent correction and had taken support around the ’89
EMA’ on daily chart. Currently, the stock is moving in a sideways direction from last few weeks. Today, the stock is in
verge of giving breakout from the ‘Falling Trend line’ on daily chart. Today’s up move is supported by healthy volumes
and thus shows a possibility of a breakout. The ‘RSI - smoothened’ oscillator is heading northwards and gave a
breakout on daily chart, indicating strength in the counter. Since, the set of moving averages (E5, E20 and E89) are
placed positively along with above technical evidences, we are anticipating a breakout in the stock. Thus, we advise
traders to buy this stock at current levels and on declines to `652 for a target of `723 in coming 14 - 21 sessions. The
stop loss for this trade set up can be kept at `623.
Jay Kumar Purohit
022-3935 7600 Extn: 6844
[email protected]
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January 12, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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