October 06, 2016
Torrent Pharma (NSE Cash)
BUY
` 1575
` 1690 - 1680
` 1890
2 months
Daily Chart
Source: Falcon (Chart Time: 10:15 IST)
Justification:
The stock is in an uptrend as the prices have been forming ‘Higher Top Higher Bottom’ structure. Prices are
indicating breakout from the consolidation phase of last few weeks, indicating that the stock has gone
through a time-wise correction phase and has now resumed the uptrend. During last three months of
upmove, the ‘RSI’ oscillator on daily charts has taken support near the levels of 50 on every corrective move.
During the consolidation phase of last few weeks, RSI corrected upto the mentioned support and has given
positive crossover, thus indicating resumption of the uptrend. Considering above technical evidences,
traders are advised to buy the stock at current levels and on dips up to `1680 for a target of `1890 in
next 2 months. The stop loss for the trade set-up can be kept at `1575.
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October 06, 2016
Last 5 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
06-10-16
BOSCH
BUY
23400-23350
23400
24775
-
22590
Active
05-10-16
Tata Coffee
BUY
133 - 131
135
148
-
124
Active
04-10-16
OBC
SELL
130 - 131
-
122
-
134
SL triggered
04-10-16
Capital First
BUY
735 - 730
735
860
-
670
Active
20-09-16
Bajaj Auto
SELL
2880 - 2900
2850
2660
-
3010
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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