March 21, 2016
Jet Airways (NSE Cash)
Buy
` 513
` 539 - 535
` 585
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 10:41 IST)
Justification:
After the sharp rally from `283.30 to `796.40, the stock stock has seen a decent correction in recent past. The
correction got capped precisely at 61.80% retracement levels of mentioned fall and the stock has formed a
‘Bullish Engulfing’ pattern on daily chart. From last few trading sessions, the stock is moving in a sideways
direction. The ongoing consolidation has resulted into formation of ‘Inverse Head & Shoulder’ pattern in hourly
chart, whose neckline is placed around `548 levels. The ‘RSI - smoothened’ oscillator also depicts positivity in
the counter. Considering current chart structure, we are anticipating upside breakout from the consolidation
phase. Thus, traders are advised to buy the stock at current levels and on declines to `535 for a target of
`585. The stop loss for the trade set-up can be kept at `513.
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March 21, 2016
Last 7 recommendations
Date
Stocks
Recom. Buying/Selling Range
CMP
Target 1
Target 2
Stop-loss
Status
21-03-16
HUL
BUY
861 - 857
870
910
-
835
Active
18-03-16
HCL Tech
BUY
823 - 815
819
880
-
789
Active
18-03-16
DLF
BUY
107-106
109
116
-
102
Active
16-03-16
Reliance*
SELL
999.50 - 1009.50
1030
929.50
-
1039.50
Active
15-03-16
SBI
BUY
184- 183
-
200
-
175
Booked at 195
04-03-16
Canara Bank
BUY
182 - 180
193
198
-
173
SL Revised to 190
29-02-16
Sun Pharma
SELL
863 - 867
834
787
-
902
SL Revised to 844
Source: Angel Research
*Divided adjusted of `10.50
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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