April 11, 2016
Pidilite Ind (NSE Cash)
BUY
` 582
` 607 - 602
` 650
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 11:50 IST)
Justification:
This stock has been forming ‘Higher Top Higher Bottom’ and is thus in an uptrend. In recent past, the up
moves were supported by higher volume whereas the corrective moves were on lower volumes, which is a
sign of strength. The 5&20 EMA on daily charts is showing a positive crossover and the ‘RSI’ indicator has
given positive crossover from its support zone. Hence, we are expecting the stock to resume the uptrend in
near term. Thus, we advised traders to buy the stock at current levels and on declines to `602 for a
target of `650. The stop loss for the trade set-up can be kept at `582.
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April 11, 2016
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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