March 22, 2017
HCL Infosystems (NSE Cash)
54 - 54.50
14 - 21 sessions
Source: Falcon (Time: 09:30 IST)
In December 2016, the stock had given a ‘Falling Trendline’ breakout and ‘Symmetrical Traingle’ breakout on daily chart
with good volumes. However, post the breakout, the follow-up move was short livened and the stock has started moving
in a corrective phase. The ongoing correction should halt at current levels as the stock is rebounding after taking a
support around the ‘Falling Trendline’, which coincides with the ‘200 DEMA’ and 50% retracement levels of the previous
up move. Today, the stock is showing some strength in initial trade with decent volumes. The ‘RSI-Smoothened’ on daily
chart has given positive crossover with its average from oversold territory, indicating reversal on the cards. Looking at this
development, we expect the stock prices to resume its upward movement.
With an anticipation of this move,
traders to buy this stock at current levels to a decline up to
54 for a target of
63 over the next 14 to 21 sessions.
The stop loss should be fixed at
Jay Kumar Purohit
022-3935 7600 Extn: 6844
March 22, 2017
Last 14 recommendations
Recom. Buying/Selling Range CMP
477 - 479
150 - 151
160 - 161.50
Profit Booked at 169
690 - 694
SL Revised to 705
2840 - 2855
725 - 732
140 - 141
1190 - 1200
88 - 89
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
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