May 30, 2016
Godrej Ind (NSE Cash)
BUY
` 337
` 353 - 350
` 382
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 09:25 IST)
Justification:
In the recent corrective move, prices had taken support near the 50% retracement of the previous upmove from
`288 to 380. Prices are showing strength from the retracement support and are moving higher with increase in
volumes. The ‘RSI’ indicator has given positive crossover from its support zone of 40, thus indicating positive
momentum. Hence, we are anticipating upmove in the stock from current levels in near term. Thus, we advise
traders to buy the stock at current levels and on declines to `350 for a target of `382. The stop loss for the
trade set-up can be kept at `337.
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May 30, 2016
Last 8 recommendations
Date
Stocks
Recom. Buying/Selling Range
CMP
Target 1
Target 2
Stop-loss
Status
27-05-16
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215 - 213
221
230
-
207
Active
25-05-16
Siemens
BUY
1152 - 1145
1202
1235
-
1108
Revise SL to 1163
23-05-16
Petronet LNG
BUY
262 - 260
273
285
-
249
Active
20-05-16
Hindalco
BUY
88 - 87
-
98
-
82
Target Achieved
20-05-16
Reliance Inds
BUY
950 - 940
978
1008
-
918
Active
19-05-16
Godrej Ind
BUY
353-350
-
378
-
339
SL Triggered
17-05-16
Hind Petro
BUY
855 - 850
-
916
-
820
SL Triggered
13-05-16
CESC
BUY
544 - 539
561
592
-
518
Revised SL to 549
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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