June 01, 2017
Strides Shasun (NSE Cash)
BUY
` 888
` 920 - 926
` 1000
14 - 21 sessions
Weekly Chart
Source: Falcon (Time: 09:30 IST)
Justification:
Last few weeks were not good for pharmaceutical space and in line with its peers, ‘STAR’ also corrected in recent past. However,
the correction seems over in this counter as the stock is rebounding from its strong support band of `820 - `840 on weekly chart
(see exhibit). The mentioned support band coincides with the ‘200 weeks EMA’ and the 50% retracement levels of the entire up
move from `266 to `1409. Today, we are witnessing a breakout from a ‘Symmetrical Triangle’ pattern on hourly chart. The
‘Stochastic’ oscillator on weekly chart is showing a positive crossover from oversold territory. Considering the above reasons, we
are anticipating a decent up move from the current levels. Hence, we advise traders to buy this stock at current levels and on
declines at `920 for a target of `1000 over the next 14- 21 sessions. The stop loss should be fixed at `888.
Jay Kumar Purohit
022-3935 7600 Extn: 6844
1
June 01, 2017
Last 8 recommendations
Date
Stocks
Recom. Buying/Selling Range CMP
Target 1
Target 2
Stop-loss
Status
01-06-17
Tata Chemicals
BUY
634 - 639
639
680
-
618
Active
30-05-17
Bank of Baroda
BUY
175 - 176
179
194
-
166
Active
29-05-17
Just Dial
BUY
462 - 466
-
509
-
442
SL Triggered
26-05-17
IBULHSGFIN
BUY
1065 - 1072
-
1150
-
1028
Booked at 1127
26-05-17
NMDC
BUY
113 - 114
111
129
-
106
Active
25-05-17
Mindtree
BUY
515 - 519
-
563
-
492.50
Booked at 546
23-05-17
Ambuja Cements
BUY
239-241
243
257
-
232
Active
02-05-17
M&M Ltd
BUY
1327 - 1335
-
1430
-
1280
Booked at 1410
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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