August 22, 2016
Titagarh Wagons (NSE Cash)
BUY
` 95
` 107 - 105
` 127
2 months
Daily Chart
Source: Falcon (Chart Time: 12:10 IST)
Justification:
Since last five months, the stock has been consolidating in a narrow range. Within this range bound trading,
the stock has formed an ‘ Inverted Head & Shoulders’ pattern on daily charts. The mentioned pattern is a
trend reversal pattern and formation of the same after a corrective move indicates higher probability of trend
reversal. In today’s trading session, prices have given breakout from the neckline of the pattern with higher
volumes. Hence, traders are advised to buy the stock at current levels and on a correction up to `105 for
a target of `127 in next 2 months. The stop loss for the trade set-up can be kept at `95.
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August 22, 2016
Last 10 recommendations
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Target 2
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403
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1345
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1165
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SAIL
BUY
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49
52
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42.50
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10-08-16
IFCI
BUY
26.80 - 26.50
28
30.50
-
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BHEL
BUY
138 - 137
145
153
-
131
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20-07-16
NCC
BUY
82 - 80
86
98
-
74
SL Revised to 81.50
18-07-16
M & M**
BUY
1462 - 1456
1444
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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