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    Technical Stock Idea: Retail Research

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    umagan
    The document provides technical stock recommendations for near-term trading over 1-2 months. It recommends buying HCL Infosystems Ltd between Rs. 51.80 and Rs. 47.50, with target prices of Rs. 57 and Rs. 63. The stock has broken out of a sideways consolidation and momentum indicators suggest further upside. It recommends selling Reliance Power Ltd between Rs. 47.10 and Rs. 50.90, with target prices of Rs. 42.50 and Rs. 38.50. The stock has been underperforming, slipped into weakness, and momentum indicators are negative.

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    Technical Stock Idea: Retail Research

    Uploaded by

    umagan
    50 views3 pages
    The document provides technical stock recommendations for near-term trading over 1-2 months. It recommends buying HCL Infosystems Ltd between Rs. 51.80 and Rs. 47.50, with target prices of Rs. 57 and Rs. 63. The stock has broken out of a sideways consolidation and momentum indicators suggest further upside. It recommends selling Reliance Power Ltd between Rs. 47.10 and Rs. 50.90, with target prices of Rs. 42.50 and Rs. 38.50. The stock has been underperforming, slipped into weakness, and momentum indicators are negative.

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    The document provides technical stock recommendations for near-term trading over 1-2 months. It recommends buying HCL Infosystems Ltd between Rs. 51.80 and Rs. 47.50, with target prices of Rs. 57 and Rs. 63. The stock has broken out of a sideways consolidation and momentum indicators suggest further upside. It recommends selling Reliance Power Ltd between Rs. 47.10 and Rs. 50.90, with target prices of Rs. 42.50 and Rs. 38.50. The stock has been underperforming, slipped into weakness, and momentum indicators are negative.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    50 views3 pages

    Technical Stock Idea: Retail Research

    Uploaded by

    umagan
    The document provides technical stock recommendations for near-term trading over 1-2 months. It recommends buying HCL Infosystems Ltd between Rs. 51.80 and Rs. 47.50, with target prices of Rs. 57 and Rs. 63. The stock has broken out of a sideways consolidation and momentum indicators suggest further upside. It recommends selling Reliance Power Ltd between Rs. 47.10 and Rs. 50.90, with target prices of Rs. 42.50 and Rs. 38.50. The stock has been underperforming, slipped into weakness, and momentum indicators are negative.

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    of 3

    15 Oct 2016

    RETAIL RESEARCH

    Technical Stock Idea A near term trading stock picks


    Stock

    CMP #

    Recommended Action

    Targets

    SL*

    Time Horizon

    HCL Infosystems Ltd

    Rs.51.80

    Buy between CMP & Rs.47.50

    Rs.57/63

    Rs.46.50

    1-2 Months

    Reliance Power Ltd

    Rs.47.10

    Sell between CMP & Rs.50.90

    Rs.42.50/38.50

    Rs.52

    1-2 Months

    Note: * Place stoploss as per daily closing basis. Recommended to stagger buying/selling. If first target achieved, then revise stoploss to buying/selling price.
    # cmp at the time of issue of call.

    HCL Infosystems Ltd:

    HCL Infosystems Ltd weekly timeframe

    Observation:
    The attached weekly timeframe chart of this IT mid cap stock HCL Infosystems Ltd has been showing larger sideways
    consolidation pattern over the last many weeks.

    Presently, the stock price is making attempt to stage upside breakout of the larger consolidation during last week. This
    week saw formation of minor breather with renewed buying enthusiasm.

    The upside breakout was accompanied by the expansion of volume, which is indicating bulls are aggressively participating
    in this counter.

    Weekly momentum oscillator like 14 period RSI has turned up above 60 levels. As per its bullish high low range (70-40
    levels), the RSI is expected to reach up to upper 70 levels (from the current reading of 64 levels). This expected pattern of
    RSI could mean more upside for the stock price ahead.

    The positive overall chart and momentum set up is suggesting a buying opportunity in HCL Infosystems Ltd for near term.
    Look to buy this stock as per levels mentioned above.

    RETAIL RESEARCH

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    RETAIL RESEARCH
    Reliance Power Ltd:

    Reliance Power Ltd weekly timeframe

    Observation:
    The weekly timeframe chart of Reliance Power Ltd is suggesting that the stock price has been showing underperformance
    over the last many months.

    After shifting into larger sideways consolidation during previous few months, the stock price slipped into sharp weakness in
    the last few weeks. A small upside bounce back of last week was failed to sustain and the stock price is again showing
    weakness.

    The stock price was not able to surpass the long term resistance of 100 week EMA (pink curvy line) few months back. Now
    the momentum on the downside is picking up.

    Weekly momentum oscillator like 8 period MACD is showing negative signal (MACD line cutting below its signal line). This is
    indicating that the downside momentum is now gathering strength.

    The overall negative chart and momentum pattern is showing short trade set up in Reliance Power Ltd for near term. One
    may look to create short positions as per levels mentioned above.

    RETAIL RESEARCH

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    RETAIL RESEARCH

    Technical Research Analyst: Nagaraj S. Shetti ([email protected])


    HDFC securities Limited, I Think Techno Campus, Building - B, "Alpha", Office Floor 8, Near Kanjurmarg Station, Opp. Crompton Greaves, Kanjurmarg (East), Mumbai 400 042
    Phone: (022) 3075 3400 Fax: (022) 2496 5066 Website: www.hdfcsec.com Email: [email protected]
    "HDFC Securities Ltd. is a SEBI Registered Research Analyst having registration no. INH000002475."
    Disclosure:
    We /I, Nagaraj S Shetti, Graduate (BA), authors and the names subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect
    our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific
    recommendation(s) or view(s) in this report.
    Research Analyst or his/her relative or HDFC Securities Ltd. does not have any financial interest in the subject company. Also Research Analyst or his relative or HDFC Securities
    Ltd. or its Associate may have beneficial ownership of 1% or more in the subject company at the end of the month immediately preceding the date of publication of the
    Research Report. Further Research Analyst or his relative or HDFC Securities Ltd. or its associate does not have any material conflict of interest. Any holding in stock No
    Disclaimer:
    This report has been prepared by HDFC Securities Ltd and is meant for sole use by the recipient and not for circulation. The information and opinions contained herein have
    been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. Such information has not been independently verified and no
    guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change
    without notice. This document is for information purposes only. Descriptions of any company or companies or their securities mentioned herein are not intended to be
    complete and this document is not, and should not be construed as an offer or solicitation of an offer, to buy or sell any securities or other financial instruments.
    This report is not directed to, or intended for display, downloading, printing, reproducing or for distribution to or use by, any person or entity who is a citizen or resident or
    located in any locality, state, country or other jurisdiction where such distribution, publication, reproduction, availability or use would be contrary to law or regulation or what
    would subject HDFC Securities Ltd or its affiliates to any registration or licensing requirement within such jurisdiction.
    If this report is inadvertently send or has reached any individual in such country, especially, USA, the same may be ignored and brought to the attention of the sender. This
    document may not be reproduced, distributed or published for any purposes without prior written approval of HDFC Securities Ltd.
    Foreign currencies denominated securities, wherever mentioned, are subject to exchange rate fluctuations, which could have an adverse effect on their value or price, or the
    income derived from them. In addition, investors in securities such as ADRs, the values of which are influenced by foreign currencies effectively assume currency risk.
    It should not be considered to be taken as an offer to sell or a solicitation to buy any security. HDFC Securities Ltd may from time to time solicit from, or perform broking, or
    other services for, any company mentioned in this mail and/or its attachments.
    HDFC Securities and its affiliated company(ies), their directors and employees may; (a) from time to time, have a long or short position in, and buy or sell the securities of the
    company(ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the
    financial instruments of the company(ies) discussed herein or act as an advisor or lender/borrower to such company(ies) or may have any other potential conflict of interests
    with respect to any recommendation and other related information and opinions.
    HDFC Securities Ltd, its directors, analysts or employees do not take any responsibility, financial or otherwise, of the losses or the damages sustained due to the investments
    made or any action taken on basis of this report, including but not restricted to, fluctuation in the prices of shares and bonds, changes in the currency rates, diminution in the
    NAVs, reduction in the dividend or income, etc.
    HDFC Securities Ltd and other group companies, its directors, associates, employees may have various positions in any of the stocks, securities and financial instruments dealt in
    the report, or may make sell or purchase or other deals in these securities from time to time or may deal in other securities of the companies / organizations described in this
    report.
    HDFC Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have been mandated by the subject
    company for any other assignment in the past twelve months.
    HDFC Securities or its associates might have received any compensation from the companies mentioned in the report during the period preceding twelve months from the date
    of this report for services in respect of managing or co-managing public offerings, corporate finance, investment banking or merchant banking, brokerage services or other
    advisory service in a merger or specific transaction in the normal course of business.
    HDFC Securities or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of
    the research report. Accordingly, neither HDFC Securities nor Research Analysts have any material conflict of interest at the time of publication of this report. Compensation of
    our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. HDFC Securities may have issued other reports that
    are inconsistent with and reach different conclusion from the information presented in this report.
    Research entity has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject
    company. We have not received any compensation/benefits from the Subject Company or third party in connection with the Research Report.
    This report has been prepared by the Retail Research team of HDFC Securities Ltd. The views, opinions, estimates, ratings, target price, entry prices and/or other parameters
    mentioned in this document may or may not match or may be contrary with those of the other Research teams (Institutional, PCG) of HDFC Securities Ltd.

    RETAIL RESEARCH

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