August 21, 2017
AMARAJABAT August Fut.
SELL
` 807
` 781 - 785
` 734
5 - 10 sessions
Daily Chart
Source: Falcon (Time: 12:05 IST)
Justification:
This stock has been underperforming since last three months and is now trading around its two-year low. Recently, we
witnessed a breakdown from its major support level of 820. This was followed by some consolidation and now once again, the
stock has slipped below its recent support level of 788. In addition, the ‘RSI-Smoothened’ on daily chart is heading southwards
well below the 30 mark; indicating further weakness in the near term. Since, there is no sign of strength; we expect continuation
of recent corrective move in the near term. Thus, we recommend selling this stock at current levels and on a bounce up to
`785 for a target of `734 over the next 5 - 10 sessions. The stop loss should be fixed at `807.
Sameet Chavan
022-3935 7600 Extn: 6552
1
August 21, 2017
Previous 4 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
18-08-17
Ashok Leyland Aug.Fut.
SELL
103.75 - 104.50
103.50
97
-
107.20
Active
18-08-17
DHFL Aug. Fut
SELL
446 - 449
458
418
-
464
Active
11-08-17
Engineers Ind. Aug. Fut
SELL
149.50 - 150.50
154
131
-
159
Active
10-08-17
Castrol Ind. Aug Fut
SELL
383-385
385
356
-
397
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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