April 03, 2017
M & M (NSE Cash)
BUY
` 1254
` 1292 - 1300
` 1378
5 - 10 sessions
Daily Chart
Source: Falcon (Time: EOD as on March 31, 2017)
Justification:
Of late, we witnessed a clear underperformance from this stock as compared to some of its peer counters. Now, looking
at the daily chart, it appears that the stock has managed to find a support around the 50% Fibonacci retracement of the
recent up move from 1177.35 to 1361. This level coincides with the multiple technical indicators such as the daily ’89
EMA’ and the weekly ‘Super Trend’. Hence, we interpret this as a completion of the corrective move and expect the stock
to give a decent up move quite soon. On hourly chart, we are witnessing some early signs of this move as the stock
prices are showing positive traction along with decent volume activity. Considering the above technical evidences, we
advise traders to buy this stock at current levels to a decline up to `1292 for a target of `1378 over the next 5 to 10
sessions. The stop loss should be fixed at `1254.
Sameet Chavan
022-3935 7600 Extn: 6552
1
April 03, 2017
Last 14 recommendations
Buying/Selling
Date
Stocks
Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
24-03-17
Federal Bank
BUY
89 - 90
91.50
99
-
85
Active
22-03-17
HCL Infosystem
BUY
54-54.50
52.50
63
-
50
Active
20-03-17
Mindtree
BUY
477-479
-
509
-
464
SL Triggered
16-03-17
SRF
BUY
1605-1615
1608
1725
-
1550
Active
16-03-17
Tata Global
BUY
144-145
151
158
-
138
Active
15-03-17
Union Bank
BUY
150 - 151
156
163
-
143.50
Active
10-03-17
ICICI Bank
BUY
269-271
280
298
-
254.50
Active
07-03-17
UPL
BUY
690 - 694
-
740
-
688
Booked at 729
06-03-17
Bajaj Auto
BUY
2840 - 2855
2825
3030
-
2748
Active
01-03-17
Sintex
BUY
98-99
-
109
-
91
Booked at 106
27-02-17
Wockhardt
BUY
725 - 732
725
808
-
688
Active
20-02-17
PNB
BUY
140 - 141
151
155
-
132.75
Active
13-02-17
Siemens
BUY
1190 - 1200
1252
1290
-
1148
Active
09-02-17
PTC Ind
BUY
88 - 89
92
106
-
80
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
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