January 13, 2016
Apollo Tyre (NSE Cash)
BUY
` 143
` 150.50 - 149
` 163
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: - EOD as on 12/01/2016)
Justification:
The prices have corrected in last few months and are currently trading near the medium term support zone.
In Friday’s trading session last week, the prices have formed a ‘Hammer’ pattern and post that prices have
formed small body candles for couple of sessions. On daily charts, we are also observing ‘Triple Positive
Divergence’ in RSI which could lead to reversal of trend. Hence, we advise traders to buy this stock at
current levels and on declines to ` 149 for a target of ` 163 in coming 14 to 21 trading sessions. The
stop loss for this trade set up can be kept at ` 143.
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January 13, 2016
Last 5 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2 Stop-loss
Status
11-01-16
Divis Lab
SELL
1110 - 1115
1109
1020
-
1158
Active
11-01-16
Axis Bank
BUY
419 - 416
-
450
-
402
SL Triggered
07-01-16
Power Grid
BUY
140 - 139
142
149
-
135.50
Revise SL to 137
05-01-16
Bharti Airtel
BUY
322 - 318
319
358
-
304
Active
31-12-15
Auropharma
SELL
878 - 883
845
808
-
906
Revised SL to 856
Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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