May 09, 2017
Just Dial (NSE Cash)
BUY
` 480
` 498 - 502
` 540
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 09.25 IST)
Justification:
Post forming a low around `318 in the month of December 2016, the stock reversed its previous downtrend and has
formed ‘Higher Top Higher Bottom’ structure since then. The prices rallied higher sharply upto `620 during the month of
March. In last couple of months, the stock has retraced some of those gains and is now consolidating around its support
of ’20 WEMA’ & ’89 DEMA’. The ‘RSI’ oscillator too is trading around its support and hence, there is higher probability of
a pullback move in the stock in near term. Hence, traders are advised to buy this stock at current levels to a decline
up to `498 for a target of `540 over the next 14 - 21 sessions. The stop loss should be fixed at `480.
Ruchit Jain
022-3935 7600 Extn: 6554
1
May 09, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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