November 04, 2015
Rel Infra (NSE Cash)
BUY
` 383
` 397 - 395
` 425
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time:
09:30 IST)
Justification:
Recently, the stock has given a ‘Bullish Flag’ pattern breakout, which was later followed by a ‘Falling Trend
line’ breakout in the daily chart. The breakout was support by the terrific volumes, which further validates the
pattern. Post the breakout, the rally has taken a pause and the stock has started moving in sideways direction.
After the consolidation of last two trading sessions, the stock is again showing an initial sign of optimism in
today’s session. The ‘RSI’ oscillator is moving in the bullish territory above the 60 levels in daily chart,
indicating strength in the counter. Considering the current chart structure of the stock, we are expecting
resumption of the up move in the counter. Thus, we advise traders to buy this stock at current levels and on
declines to ` 395 for a target of ` 425 in coming 14 to 21 trading sessions. The stop loss for this trade set up
can be kept at ` 383.
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November 04, 2015
Last 7 recommendations
Date
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CMP
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163
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418 - 415
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458
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397
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487 - 490
486
445
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511
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23-10-15
Crompton Greaves
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183 - 182
-
198
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175.50
SL Triggered
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ACC
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1430
1490
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1337
Revise SL to 1404
20-10-15
NTPC
BUY
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136
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124
Book Profit
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HUL
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808
842
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765
SL Revised to 791
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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