March 28, 2016
Tata Steel (NSE Cash)
SELL
` 327
` 314 - 317
` 290
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 09:41 IST)
Justification:
The stock has shown a sharp upmove since 12th February, wherein prices have rallied from low of `211.15 to
318.40. Prices are currently trading near the resistance zone which is 161.8% retracement of the previous
corrective move from ` 276.40 to 211.15. The ‘RSI’ indicator on daily charts also is in overbought zone. The
lower time frame chart (Hourly Chart) is indicating formation of a bearish candle. Hence, we are expecting a
corrective move in near term. Thus, we advise traders to sell the stock at current levels and on bounce to
`317 for a target of `290. The stop loss for the trade set-up can be kept at `327.
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March 28, 2016
Last 8 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2 Stop-loss
Status
21-03-16
Bata
BUY
505 - 502
506
554
-
478
Active
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Jet Airways
BUY
539 - 535
558
585
-
513
Active
21-03-16
HUL
BUY
861 - 857
868
910
-
835
Active
18-03-16
HCL Tech
BUY
823 - 815
819
880
-
789
Active
18-03-16
DLF
BUY
107-106
-
116
-
102
Target Achieved
16-03-16
Reliance*
SELL
999.50 - 1009.50
-
929.50
-
1039.50
SL triggered
15-03-16
SBI
BUY
184- 183
-
200
-
175
Booked at 195
04-03-16
Canara Bank
BUY
182 - 180
-
198
-
173
Booked at 190
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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