November 06, 2015
Adani Ports (NSE Cash)
BUY
` 269.50
` 283 - 281
` 308
14 - 21 sessions
Daily Chart
2
Wolfe Wave
structure
4
1
3
Probable 5th point reversal at
strong support
Source: Falcon (Chart Time:
10.20 IST)
Justification:
Although, the recent trend has been bearish for this stock, we are now observing some signs of near term
bounce in the stock. On the daily chart, ‘Wolfe Wave’ structure is clearly visible. This structure needs 5 points
and a reversal at 5th point either around 127% (in this case) or 161% retracement of the move from point ‘3’
to point ‘4’. Since, the stock is trading around its strong support zone of the weekly ’89 EMA’; we anticipate it
to confirm a 5th point around 283. Thus, we advise traders to buy this stock from current level to a
decline up to ` 281 for a target of ` 308 in coming 14 to 21 trading sessions. The stop loss for this
trade set up can be kept at ` 269.50.
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November 06, 2015
Last 7 recommendations
Date
Stocks
Recom. Buying/Selling Range
CMP
Target 1
Target 2 Stop-loss
Status
04-11-15
Ashok Leyland
BUY
92.70 - 92
-
100
-
89
SL triggered
04-11-15
Rel Infra
BUY
397 - 395
-
425
-
383
SL triggered
02-11-15
Bank of Baroda
BUY
161.50 - 161
-
175
-
154
SL triggered
29-10-15
LIC Housing Fin
SELL
487 - 490
458
445
-
511
Book profits
23-10-15
ACC
BUY
1390 - 1380
-
1490
-
1337
Booked at 1404
20-10-15
NTPC
BUY
129 - 128
-
138
-
124
Booked Profit at 136
19-10-15
HUL
BUY
793 - 788
-
842
-
765
Booked at 800
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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