August 02, 2017
CanFin Home (NSE Cash)
SELL
` 3160
` 3050 - 3065
` 2850
5 - 10 sessions
Daily Chart
Prices on the verge
of a breakdown
RSI slipped below
previous low
Source: Falcon (Time: EOD as on August 01, 2017)
Justification:
After witnessing a massive rally, this outperforming stock slipped into consolidation mode towards the fag end of the June.
Since then we have been witnessing sideways action with a slightly negative bias. Technically speaking, the stock prices slipped
below key short term moving averages on daily chart to confirm the negative crossover of ‘5 & 20 EMA’ combination. In
addition, the ‘RSI-Smoothened’ on weekly chart has now given a bearish crossover well inside the overbought territory for the
first time in last seven months. Considering all the above evidences, we expect a decent profit taking in the stock. Thus, we
recommend selling this stock at current levels and on a bounce up to `3065 for a target of `2850 over the next 5 - 10
sessions. The stop loss should be fixed at `3160.
Sameet Chavan
022-3935 7600 Extn: 6552
1
August 02, 2017
Last 10 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
31-07-17
Bank of Baroda
BUY
165 - 167
164
181
-
159
Active
31-07-17
RADICO
BUY
141 - 143
147
159
-
132
Active
27-07-17
BHARATFIN
BUY
808 - 814
850
884
-
780
Active
27-07-17
Omaxe Ltd.
BUY
207 - 208
-
216
-
203.50
SL triggered
21-07-17
Karnataka bank
SELL
154.75 - 156
152
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
585
626
-
564
Active
19-07-17
Britannia*
BUY
3788 - 3808
-
4028
-
3648
Booked at 3880
12-07-17
MGL
BUY
1000 - 1009
995
1075
-
968
Active
07-07-17
DELTACORP
BUY
167 - 168.50
170
190
-
156
Active
*Britannia dividend adjusted price
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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