December 21, 2015
Idea Cellular (NSE Cash)
BUY
` 129.70
` 137 - 136
` 149
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: IST 14.50)
Justification:
The entire ‘Telecom’ space has undergone a massive price-wise corrective phase over the past 8 months.
However, considering past couple of week’s price action, it appears that the stock is finding a strong support
around its 2014 low of `124.28. On the daily chart, the stock has surpassed the daily ’20-EMa’ level of `136 on
an intra-day basis. Considering the positive placement of the daily ‘RSI-Smoothened’ oscillator, we expect it
to close beyond it. Thus, we advise traders to buy this stock from current levels to a decline up to `136
for a target of `149 in coming 14 to 21 trading sessions. The stop loss for this trade set up can be kept
at `129.70.
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December 21, 2015
Last 9 recommendations
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Target 1
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143
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852
914
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810
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309
319
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283
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779
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324
343
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304
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Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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