May 10, 2017
Axis Bank (NSE Cash)
BUY
` 498
` 520 - 525
` 560
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 12:10 IST)
Justification:
This stock has underperformed its peer counters in last few months; however, we are now seeing good positive traction
in this counter since last couple of days. Looking at the daily chart, it seems that the stock has formed a strong base
around 485 and is now on the verge of giving a decisive breakout from the recent range. The volume activity has been
rising gradually and now looking at the upward sloping ‘RSI-Smoothened’ on daily chart; we expect a good catch up rally
in this counter. Thus, we advise traders to buy this stock at current levels to a decline up to `520 for a target of `560
over the next 14 - 21 sessions. The stop loss should be fixed at `498.
Sameet Chavan
022-3935 7600 Extn: 6552
1
May 10, 2017
Last 14 recommendations
Buying/Selling
Date
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CMP Target 1 Target 2 Stop-loss
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Range
10-05-17
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10-05-17
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517
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96 - 96.30
93
106
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91
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04-05-17
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422 - 424
440
460
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405
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02-05-17
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1327 - 1335
1370
1430
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1280
Active
25-04-17
Arvind
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407-409
421
434
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395
Active
25-04-17
Jindal Poly
BUY
432 - 436
426
480
-
410
Active
25-04-17
Cox & Kings
BUY
224 - 227
224
254
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212
Active
24-04-17
Bharat Forge
BUY
1100 - 1108
1128
1195
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1060
Active
21-04-17
Siemens
BUY
1318 - 1325
-
1430
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1274
Target Achieved
11-04-17
Ambuja Cements
BUY
244 - 246
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263
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235
Target Achieved
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Tata Elexi
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1545
1700
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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