August 10, 2017
SRTRANSFIN August Fut.
SELL
` 974
` 944 - 950
` 895
5 - 10 sessions
Daily Chart
Source: Falcon (Time: 14:05 IST)
Justification:
As seen in the chart, stock prices of SRTRANSFIN have broken below the support level of advancing line which acted as
demand zone in the past two months and has confirmed a bearish reversal pattern known as ‘HEAD N SHOULDER’. The said
breakdown is witnessed with a bearish gap which can be taken as ‘Breakaway Gap’. In addition, The ‘RSI’ oscillator has given a
bearish crossover with its smoothened moving average which augurs well for the bears. Thus, we recommend selling this
stock at current levels and on a bounce up to `950 for a target of `895 over the next 5 - 10 sessions. The stop loss
should be fixed at `974.
Sameet Chavan
022-3935 7600 Extn: 6552
1
August 10, 2017
Previous recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
10 -08- 17
Castrol Ind. Aug Fut
SELL
383-385
381.50
356
-
397
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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