January 01, 2016
1505 - 1500
Source: Falcon (Time - 09:50 IST)
Post corrective action in last five months, the stock has shown initial signs of resumption of uptrend
by forming higher low on daily charts.
During last week, the stock had given breakout from a small consolidation zone with higher volumes
post which price have retraced 38.2% of the recent upmove.
On hourly charts, the mentioned consolidation had resulted in formation if an ‘Inverted Head &
Shoulders’ pattern and the recent pullback has seen prices taking support at the neckline of the
Although prices are trading below the falling trend trendline resistance seen in above chart, we are
anticipating a breakout from the trendline due to the above mentioned positive observations.
Thus, we advise traders to buy this stock from current level and on declines up to
1500 for a
1572 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be
January 01, 2016
Last 5 recommendations
Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss
860 - 864
226 - 225
230 - 228
Revise SL to233
172 - 171
556 - 552
SL Revised to 548
Source: Angel Research
Research Team Tel: 022 - 40003600
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