September 03, 2014
Coal India (NSE Cash)
BUY
`355
`368 - 365
`393
Daily Chart
Source: Falcon (Chart time - IST 11.25)
Justification:
The stock is undergoing a ‘Time-wise’ as well as ‘Price-wise’ correction ever since it posted a new life time high of
`423.70(High of June 11, 2014). The daily chart clearly displays that the stock stalled its position around the strong support
zone of the daily ’89-EMA’ placed around `345. It’s been more than four weeks now, the stock is moving within a narrow
trading range. However, we are now observing some encouraging price movement on the upside along with the decent
increase in volumes. This price action has resulted in a breakout from the ‘Downward Sloping Trend Line’ on the daily chart.
Considering the higher degree bullish chart structure, we expect the stock to start a fresh leg of the rally. Hence, we advise
traders to buy from current level to a decline up to `365 for a target of `394 in coming 2 - 3 weeks. The stop loss
for this trade set up can be kept at `355.
1
September 03, 2014
Last 6 recommendations
Date
Stocks
Recom. Buying/Selling Range
CMP
Target 1
Target 2
Stop-loss
Status
21-08-14
Tata Com
BUY
365 - 361
372
392
-
351
Active
28-08-14
HINDZINC
BUY
167 - 165
166
181
-
160
Active
01-09-14
RIL
BUY
1019 - 1010
1030
1062
-
994
Active
02-09-14
Axis Bank
BUY
411 - 407
413
435
-
397
Active
02-09-14
HDFC Bank
BUY
856 - 848
858
895
-
835
Active
03-09-14
NMDC
BUY
174.50 - 172
177
188
-
167
Active
Source: Angel Research
Research Team Tel: 022 - 30940000 (Extn: 6552) Website: www.angelbroking.com Email: [email protected]
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in
this document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this
report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this
document. While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material,
there may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report
or in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please
2