June 01, 2016
M&M (NSE Cash)
BUY
` 1270
` 1340 - 1330
` 1460
14 - 21 sessions
Weekly Chart
Source: Falcon (Chart Time: IST 09.30)
Justification:
During mid April, the stock had given breakout from a falling trend resistance with good volumes. The
breakout was supported with formation of ‘Higher Top Higher Bottom’ on weekly chart, which has turned the
trend for the stock positive. Prices have been consolidation above the mentioned trendline post the breakout
and thus we are anticipating continuation of the uptrend in near term. Also, the 5&20 EMA crossover strategy
on weekly charts is indicating uptrend in the stock. Hence, we advise traders to buy the stock at current
levels and on declines up to `1330 for a target of `1460. The stop loss for the trade set-up can be kept
at `1270.
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June 01, 2016
Last 9 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2 Stop-loss
Status
30-05-16
Apollo Hospital
BUY
1370 - 1360
1390
1470
-
1310
Active
30-05-16
Godrej Ind
BUY
353 - 350
345
382
-
337
Active
27-05-16
IRB Infra
BUY
215 - 213
2120
230
-
207
Active
25-05-16
Siemens
BUY
1152 - 1145
-
1235
-
1108
Target Achieved
23-05-16
Petronet LNG
BUY
262 - 260
275
285
-
249
Revise SL to 268
20-05-16
Hindalco
BUY
88 - 87
-
98
-
82
Target Achieved
20-05-16
Reliance Inds
BUY
950 - 940
960
1008
-
918
Active
19-05-16
Godrej Ind
BUY
353-350
-
378
-
339
SL Triggered
13-05-16
CESC
BUY
544 - 539
-
592
-
518
Booked at 549
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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