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RETAIL RESEARCH
CMP #
Rs.60.35
Recommended Action
Buy between CMP & Rs.55.50
Targets
Rs.67.50/74
SL*
Rs.54.50
Time Horizon
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.
ANANTRAJ LTD:
Observation:
Attached weekly timeframe chart of this Realty counter (Anant Raj Ltd) has been showing an excellent upside rally over the
last many months.
The stock price has moved up as per the positive sequence of higher tops and bottoms. After a sharp upmoves, the stock
price didnt show any sharp declines, as it shifted into consolidation, before bouncing back sharply.
The upside rally of the stock price has held above the support of ascending trend line (green dashed up trend line, which is
connected from the bottom of Rs.27.50-later part of Feb-16). Still that support is offering base for the stock price during
minor correction.
The stock price has been in to a consolidation mode/minor corrective phase recently and is now making attempt to break
above the consolidation pattern. Hence, sharp upmove is likely occur from here.
The weekly momentum oscillator like 14 period RSI has been shifting around 65 levels and recently it turned up from near
the key upper area of 60 levels. This action of RSI is signaling a strengthening of upside momentum in the stock price.
The overall positive chart and momentum pattern of Anant Raj Ltd is suggesting a long trade set up. Look to buy this stock
as per the levels mentioned above.
RETAIL RESEARCH
P age |1
RETAIL RESEARCH
RETAIL RESEARCH
P age |2