July 07, 2017
Delta Corp (NSE Cash)
BUY
` 156
` 167 - 168.50
` 190
14 -21 sessions
Daily Chart
Source: Falcon (Time: 14:20 IST)
Justification:
In last couple of months the prices have seen a consolidating phase around its long term support od ‘200 SMA’. The prices
structure suring this consolidation has led to formation of an ‘Inverted Head & Shoulders’ pattern on the daily chart. The
mentioned pattern is a trend reversal pattern and prices are on the verge of a breakout. In last couple of trading sessions, the
volumes are comparatively increasing and hence, we are pre-emting an upmove in the stock in near term. Hence, traders are
advised to buy this stock at current levels and on declines at `167 for a target of `190 over the next 14 - 21 sessions.
The stop loss should be fixed at `156.
Ruchit Jain
022-3935 7600 Extn: 6554
1
July 07, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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