February 15, 2016
` 119
` 127 - 126
` 141
14 - 21 sessions
Weekly Chart
Source: Falcon (Chart Time: 11:40 IST)
Of late, this slow moving stock had undergone a strong corrective phase. However, if we closely observe the
weekly chart, we can clearly observe major support zone at `121, which is the 61.8% Fibonacci retracement
level of the previous up move from `104.23 to `147. This support coincides with the ‘Super Trend’ indicator,
which is in a bullish mode since December 24, 2015. Last week’s ‘Bullish Hammer’ pattern around this
multiple support zone indicates probable reversal in the smaller degree trend. Thus, we advise traders to buy
this stock from current level to a decline to ` 126 for a target of ` 141 in coming 14 to 21 trading sessions.
The stop loss for this trade set up can be kept at ` 119.
February 15, 2016
Last 6 recommendations
Recom. Buying/Selling Range
Target 1
Target 2
Reliance Ind
958 - 952
SL Triggered
1044 - 1038
SL Triggered
185 - 183
Booked at 191
Bharti Airtel
297 - 295
Target Achieved
2405 - 2415
Target Achieved
Ambuja Cement
195 - 194
Revise SL to 194
Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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