May 25, 2017
CG Power (NSE Cash)
BUY
` 86
` 91 - 91.80
` 102
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 14:20 IST)
Justification:
During the second week of May, this stock had given breakout from its previous resistance with good volumes. In last few
trading sessions, prices have corrected from its recent highs and have retraced 50% of the previous upmove. The RSI oscillator,
which was in overbought zone at the recent high too has corrected along with prices and is now trading in the support zone.
Due to the above mentioned reasons, there is a higher probability that the stock will resume the uptrend and move higher in
near term. Hence, we advise traders to buy this stock at current levels and on declines at `91 for a target of `102 over
the next 14- 21 sessions. The stop loss should be fixed at `86.
Ruchit Jain
022-3935 7600 Extn: 6554
May 25, 2017
Last 4 recommendations
Buying/Selling
Date
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Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
25-05-17
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531
563
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492.50
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BUY
160-161
165.50
176
-
152.80
Active
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BUY
239-241
239
257
-
232
Active
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1327 - 1335
1315
1430
-
1280
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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