February 18, 2016
Jet Airways (NSE Cash)
BUY
` 516
` 556 - 551
` 625
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: EOD as on 17/2/2016)
Justification:
This stock first gave a stupendous rally from October 2015 lows to register a new all time high of `796.40 in
merely three months. However, this entire up move immediately got retraced by 50%; indicating strength. In
past couple of weeks, the stock prices are consolidating around this support zone. On the minor degree
(hourly) chart, we are seeing a possibility of forming an ‘Inverse Head and Shoulder’ pattern as the stock has
rebounded after retracing its small up move by 61.8%. At present, the daily ‘RSI-Smoothened’ oscillator is
deeply oversold, which we expect to turn upwards and eventually lead to an up. Thus, we advise traders to buy
this stock from current level to a decline to ` 551 for a target of ` 625 in coming 14 to 21 trading sessions.
The stop loss for this trade set up can be kept at ` 516.
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February 18, 2016
Last 7 recommendations
Date
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CMP
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Stop-loss
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130
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Reliance Ind
BUY
958 - 952
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1038
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915
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08-02-16
Siemens
BUY
1044 - 1038
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1140
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990
SL Triggered
04-02-16
REC Ltd
BUY
185 - 183
-
206
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173
Booked at 191
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Bharti Airtel
BUY
297 - 295
-
325
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Target Achieved
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TCS
SELL
2405 - 2415
-
2235
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2502
Target Achieved
Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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