March 02, 2016
Hindalco (NSE Cash)
BUY
` 68
` 72.50 - 71.50
` 81
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 09:30 IST)
Justification:
In last few weeks, the stock has been consolidating in a narrow range. During this consolidation, the stock has
formed an ‘Inverted Head & Shoulders’ pattern on daily charts. The neckline resistance has been broken with
a gap up opening today which is a sign of strength in the stock. The ‘RSI’ indicator is moving higher and is
showing positive momentum. Thus, we advise traders to buy this stock from current level and on
correction up to ` 71.50 for a target of ` 81 in coming 14 to 21 trading sessions. The stop loss for this
trade set up can be kept at ` 68.
1
March 02, 2016
Last 9 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2 Stop-loss
Status
01-03-16
Cipla
BUY
520 - 515
521
565
-
495
Active
01-03-16
Bharti Airtel
BUY
317 - 314
322
342
-
303
Active
29-02-16
Reliance
BUY
968 - 964
988
1038
-
930
Active
29-02-16
Biocon
BUY
470 - 467
474
500
-
454
Active
29-02-16
Sun Pharma
SELL
863 - 867
867
787
-
902
Active
25-02-16
Infosys
SELL
1115 - 1120
1130
1040
-
1157
Active
24-02-16
HDFC Ltd
BUY
1033 - 1027
1085
1115
-
988
Revise SL to 1058
19-02-16
M & M
BUY
1234 - 1228
1241
1345
-
1179
Revised SL to 1205
18-02-16
Lupin
BUY
1746 - 1735
1768
1895
1660
Active
Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock
Exchange Limited and Metropolitan Stock Exchange of India Limited. It is also registered as a Depository Participant with CDSL and Portfolio Manager
with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a registered entity with SEBI for Research
Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number INH000000164. Angel or its associates has not been debarred/
suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market. Angel or its associates including its relatives/analyst
do not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. Angel or its associates/analyst has not
received any compensation / managed or co-managed public offering of securities of the company covered by Analyst during the past twelve months.
Angel/analyst has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market making activity
of the company covered by Analyst.
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.
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.
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 refer to the latest
update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may have
investment positions in the stocks recommended in this report.
2