August 04, 2017
Tata MTR DVR (NSE Cash)
SELL
` 267.55
` 256 - 258
` 237
5 - 10 sessions
Daily Chart
Breach of
important support
Source: Falcon (Time: 11:20 IST)
Justification:
This stock has been a clear underperformer since September 2016 highs. During this period, our benchmark index rallied more
than 20 percent and is trading around all time highs; whereas, this stock kept descending towards its 52-week low. This is a
clear sign of weakness. Yesterday, we saw breakdown from a major near term support level of 258 on a closing basis. In
addition, the ‘RSI-Smoothened’ has slipped below its recent lows, which we believe would provide an impetus for further
correction. Thus, we recommend selling this stock at current levels and on a bounce up to `258 for a target of `237 over
the next 5 - 10 sessions. The stop loss should be fixed at `267.55.
Sameet Chavan
022-3935 7600 Extn: 6552
1
August 04, 2017
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Buying/Selling
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CMP Target 1 Target 2 Stop-loss
Status
Range
03-08-17
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491
520
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465
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02-08-17
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2940
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145
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818
884
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780
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21-07-17
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154.75 - 156
148
143
-
161
Active
21-07-17
Manappuram Fin
BUY
104.50 - 105.50
102
119
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97
Active
21-07-17
Bata India
BUY
583 - 587
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626
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564
Target Achieved
12-07-17
MGL
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1000 - 1009
1017
1075
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968
Active
07-07-17
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BUY
167 - 168.50
168
190
-
156
Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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