May 19, 2016
Tata MTR DVR (NSE Cash)
BUY
` 261
` 273 - 271
` 291
5-10 sessions
266
262
284
291
Bullish
Daily Chart
Source: Falcon (Time - IST 09:30)
Of late, we witnessed a decent correction from higher levels of 310 - 312. However, the stock is now
finding a strong support around March 15, 2016 high of 265.
On the daily chart, we can witness a formation of a ‘Dragonfly Doji’ pattern formed during yesterday’s
session. This pattern has now been confirmed on an intraday basis.
In addition, the ‘RSI’ indicator on hourly chart is indicating a positive momentum and hence, we are
expecting an upmove in near term.
Thus, we advise traders to buy this stock from current level to a decline up to ` 271 for a target of `
291 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be kept at ` 261.
May 19, 2016
Tata MTR DVR (NSE Cash)
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Source: Angel Research
Research Team Tel: 022 - 40003600 (Extn.6552)
E-mail: [email protected]
Website: www.angelbroking.com
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