February 20, 2017
REC (NSE Cash)
BUY
` 139
` 146 - 147
` 161
14 to 21 sessions
Daily Chart
Source: Falcon (Time: 11:10 IST)
Justification:
The stock has been maintaining the ‘Higher Top Higher Bottom’ structure and is thus in an uptrend. Recently, post an
upmove from `115 to `152, prices have consolidated in an narrow range . This consolidation just seems to be a time-
wise correction within an uptrend and the prices are indicating resumption of the uptrend. The ‘RSI’ oscillator on the
daily as well as weekly chart is indicating a positive momentum. Considering the positive placement of a set of moving
averages (E5, E20 and E89) on both daily and weekly chart, we are expecting upmove in the counter in near term. Thus,
we advise traders buy this stock at current levels to a decline up to `146 for a target of `161 over the next 14 to 21
sessions. The stop loss should be fixed at `139.
Ruchit Jain
022-3935 7600 Extn: 6554
1
February 20, 2017
Last 11 recommendations
Buying/Selling
Date
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Recom.
CMP Target 1 Target 2 Stop-loss
Status
Range
20-02-17
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213-215
215.50
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203
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20-02-17
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BUY
140 - 141
141.50
155
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132.75
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14-02-17
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490 - 500
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550
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470
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13-02-17
Siemens
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1190 - 1200
1210
1290
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1148
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13-02-17
The India Cements
SELL
160 - 161
163
148
-
167.30
Active
09-02-17
Motherson Sumi
BUY
346 - 349
351
376
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333
Active
09-02-17
PTC Ind
BUY
88 - 89
87.50
106
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80
Active
02-02-17
KTK Bank
BUY
117 - 118
117.50
129
-
112.25
Active
02-02-17
Berger Paints
BUY
219-221
224
242
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209
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02-02-17
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BUY
482-486
487
532
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459
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381 - 384
405
415
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366
SL revised to 390
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
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