September 05, 2017
RCF (NSE Cash)
BUY
` 92
` 96.50-97.50
` 107
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 14.25 IST)
Justification:
The stock is trading in an uptrend and has moved higher in the recent past with good volumes. Since last one month, the
prices have consolidated which seems to be a time correction within an uptrend. In today’s session, the prices have given
breakout from a falling trendline resistance on the hourly chart with decent volumes which indicates that the stock has
resumed its uptrend. The ‘Super Trend’ indicator is in ‘BUY’ mode and the ‘RSI’ oscillator too is giving a positive crossover from
its support. Thus, we are expecting the prices to move higher in near term. Hence, we recommend buying this stock at
current levels and on corrections up to `96.50 for a target of `107 over the next 14 - 21 sessions. The stop loss should
be fixed at `92.
Ruchit Jain
022-3935 7600 Extn: 6554
1
September 05, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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