May 23, 2017
TECHM (Till June Expiry)
418 - 421
The stock has underperformed its peers in the recent past and corrected with formation of huge
short positions. At current juncture, good amount of shorts are there in the system and the stock
is trading around its strong support of 410 - 415. Today, we are witnessing fresh long build-up
in intraday trades; that too mainly in June series. Considering above derivative data; we are
expecting a short covering move in the counter. Thus, traders are suggested to go long at current
level and on declines to Rs. 418 levels for the target and stop loss mentioned above.
Jay Kumar Purohit
022-3935 7600 Extn: 6844
167 - 167.30
269 - 270
64 - 64.20
Profit Booked on 16-05-17
Research Team Tel: 022 - 3935 7600
For Derivatives Queries
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a registered
entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number INH000000164. Angel
or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market.
Angel or its associates/analyst has not received any compensation / managed or co-managed public offering of securities of the company
covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading
volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals.
Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the contrary view, if
The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources
believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for
general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss
or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Pvt. Limited
has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any
representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Pvt.
Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or
other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may
arise from or in connection with the use of this information