July 31, 2017
Bank of Baroda (NSE Cash)
BUY
` 159
` 165 - 167
` 181
14 - 21 sessions
Weekly Chart
Source: Falcon (Time: 11:40 IST)
Justification:
In last three months, this stock has seen price correction and has underperformed the banking space. However, if we observe
the longer-term charts, it is seen that the stock is trading in a channel and prices are consolidating near the lower end of the
channel since last few weeks. The ‘Channel’ support also coincide with the ‘200 SMA’ on the weekly charts. In today’s trading
session, prcies have moved higher with good volumes and the ‘RSI’ oscillator on the weekly charts too has given a positive
crossover. Hence, we are expecting this stock to move higher in near term and retrace the recent corrective move. Thus, we
recommend buying this stock at current levels and on decline up to `165 for a target of `181 over the next 14 - 21
sessions. The stop loss should be fixed at `159.
Ruchit Jain
022-3935 7600 Extn: 6554
1
July 31, 2017
Last 9 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
31-07-17
RADICO
BUY
141 - 143
143
159
-
132
Active
27-07-17
BHARATFIN
BUY
808 - 814
848
884
-
780
Active
27-07-17
Omaxe Ltd.
BUY
207 - 208
205
216
-
203.50
Active
21-07-17
Karnataka bank
SELL
154.75 - 156
155
143
-
161
Active
21-07-17
Manappuram Fin
BUY
104.50 - 105.50
107
119
-
97
Active
21-07-17
Bata India
BUY
583 - 587
584
626
-
564
Active
19-07-17
Britannia*
BUY
3788 - 3808
3945
4028
-
3648
SL revised to 3880
12-07-17
MGL
BUY
1000 - 1009
992
1075
-
968
Active
07-07-17
DELTACORP
BUY
167 - 168.50
172
190
-
156
Active
*Britannia dividend adjusted price
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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