Vous êtes sur la page 1sur 3

June 18, 2015

Positional Technical Pick


RETAIL RESEARCH

Stock
MCX
Edelweiss

CMP

Recommended Action *

Targets

Rs.1028
Rs.62.5

Buy between 970 and 1028


Buy between 60 and 62.5

1250
75

Stop Loss
920
58

Time Horizon
1-3 months
1-4 weeks

*= Recommended to stagger buying rather than entering entirely at CMP

MCX Daily Chart

Observation:
MCX has reversed its recent short term downtrend. The stock has bounced from the 200-day EMA a few sessions
back and made a double bottom pattern in the process.
The recent upmove has led to the stock moving above the previous swing high of 1015, thereby reversing the
downtrend.
Technical indicators are giving positive signals as the stock trades above the short term (13 day SMA) and long
term (200 day EMA) moving averages. Momentum indicators like the 14-day RSI are in rising mode and not yet
overbought. The 14-day RSI is also above its 9-day EMA, which is a healthy signal for the stock.
The Relative Strength Comparative indicator too is beginning to rise, which implies that the stock is currently
outperforming the Nifty index.
The stock is also looking attractive on the weekly and monthly charts which augurs well for the intermediate and
long term uptrend of the stock. Given the positive technical set up, we believe the stock has the potential to move
higher in the coming days.
Our upside target is at 1250. Our entry levels along with the stop losses are given above.
RETAIL RESEARCH

Edelweiss Daily Chart

Observation:
Edelweiss has rallied from the 200-day EMA a few sessions back and made a double bottom pattern in the
process.
Technical indicators are giving positive signals as the stock trades above the short term (13 day SMA) and long
term (200 day EMA) moving averages. Momentum indicators like the 14-day RSI are in rising mode and not yet
overbought. The 14-day RSI is also above its 9-day EMA, which is a healthy signal for the stock.
The Relative Strength Comparative indicator too is beginning to rise, which implies that the stock is currently
outperforming the Nifty index.
The stock is also looking attractive on the weekly and monthly charts which augurs well for the intermediate and
long term uptrend of the stock. Given the positive technical set up, we believe the stock has the potential to move
higher in the coming days. Upside momentum will accelerate once the stock breaks above the recent
intermediate highs of 64.85 touched on 29th May 2015.
Our upside target is at 75. Our entry levels along with the stop losses are given above.

RETAIL RESEARCH

Note: Once the market opens for trade, the analyst will review it and decide to give the call through an internal mail/SMS at the same or
different levels of entry, target and stop loss or not give the call at all or give a call in Futures/call/put. Clients could get in touch with the
analyst through their designated dealers to check about this.
Technical Research Analyst: Subash Gangadharan (subash.gangadharan@hdfcsec.com)

RETAIL RESEARCH Tel: (022) 3075 3400 Fax: (022) 2496 5066 Corporate Office
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: hdfcsecretailresearch@hdfcsec.com
Disclaimer: This document has been prepared by HDFC Securities Limited and is meant for sole use by the recipient and not for circulation. This document is not
to be reported or copied or made available to others. It should not be considered to be taken as an offer to sell or a solicitation to buy any security. The information
contained herein is from sources believed reliable. We do not represent that it is accurate or complete and it should not be relied upon as such. We may have from
time to time positions or options on, and buy and sell securities referred to herein. We may from time to time solicit from, or perform investment banking, or other
services for, any company mentioned in this document. This report is intended for non-Institutional Clients
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.
Disclosure by Research Analyst: Research Analyst or his 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 does not 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
Disclosure by Research Entity: HDFC Securities Ltd. may have received any compensation/benefits from the subject company, may have managed public
offering of securities for the subject company in the past 12 months. Further, Associates of the Company may have financial interest from the subject company in
the normal course of Business. The subject company may have been our client during twelve months preceding the date of distribution of the Research report.
Research analyst has not served as an officer, director or employee of the subject company. Research entity has not been engaged in market making activity for
the subject company. We have not received any compensation/benefits from the subject company or third party in connection with the Research Report.

RETAIL RESEARCH

Vous aimerez peut-être aussi