April 24, 2017
Bharat Forge (NSE Cash)
BUY
` 1060
` 1100 - 1108
` 1195
14-21 sessions
Daily Chart
Source: Falcon (Time: 14.15 IST)
Justification:
The stock has been forming ‘Higher Top Higher Bottom’ structure on the higher degree charts and is thus in an uptrend.
In last one month, the prices have consolidated in a narrow range which can be seen in the above exhibit. Since the
broader trend for the stock is up, this consolidation just seems to be a time- wise correction within an uptrend. In today’s
trading session, the prices have given breakout from the consolidation phase and hence, seem to have resumed the
uptrend. Thus, we advise traders to buy this stock at current levels to a decline up to `1100 for a target of `1195
over the next 14-21 sessions. The stop loss should be fixed at `1060.
Ruchit Jain
022-3935 7600 Extn: 6554
1
April 24, 2017
Last 13 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
21-04-17
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BUY
1318 - 1325
1316
1430
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1274
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19-04-17
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178 - 179.50
178
196
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170
177
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147
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18-04-17
Bank of Baroda
BUY
176 - 178
177
191
-
170.75
Active
11-04-17
Ambuja Cements
BUY
244 - 246
247
263
-
235
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06-04-17
Tata Elexi
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1550 - 1560
1552
1700
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1480
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05-04-17
Canara Bank
BUY
306 - 309
323
330
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297
Active
05-04-17
Pidilite
BUY
714 - 718
715
760
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694
Active
03-04-17
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BUY
97 - 98
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108
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92
Target Achieved
03-04-17
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62.75-63.25
60.50
71
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59
Active
06-03-17
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2852
3030
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2748
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27-02-17
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733
808
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688
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09-02-17
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97
106
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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