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Technical Call: Sell Jindal Steel for a target of Rs275 - Nirmal Bang

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21 August 2014 CMP : Action : Targets : Stop-loss : Comment : 294 SELL 275/260 305 Closing Basis Thestockaftercompletingits5wavedeclinehasrecentlycorrectednearitswave‘iv’whichisaroundthe300levels. Therecentrisehasbeeninan‘abc’correctiveformationandthestockalsoformedmultipleDojicandlestickwhichconfirmsindecisionneartheresistancezonewhichindicatesaprobableshorttermhighinplace. Analyst Name ManavChopra, CMT Contact:-022-39268255 manav.chopra@nirmalbang.com JINDAL STEEL FUT DAILY CHART Duration : 1 Week
COMPANY NAME GRAPH NAME Disclaimer: ThisDocumenthasbeenpreparedbyNirmalBangResearch(ADivisionofNirmalBangSecuritiesPVTLTD).Theinformation,analysisandestimatescontainedhereinarebasedonNirmalBangResearchassessmentandhavebeenobtainedfromsourcesbelievedtobereliable.Thisdocumentismeantfortheuseoftheintendedrecipientonly.Thisdocument,atbest,representsNirmalBangResearchopinionandismeantforgeneralinformationonly.NirmalBangResearch,itsdirectors,officersoremployeesshallnotinanywayberesponsibleforthecontentsstatedherein.NirmalBangResearchexpresslydisclaimsanyandallliabilitiesthatmayarisefrominformation,errorsoromissionsinthisconnection. Thisdocumentisnottobeconsideredasanoffertosellorasolicitationtobuyanysecurities.NirmalBangResearch,itsaffiliatesandtheiremployeesmayfromtimetotimeholdpositionsinsecuritiesreferredtoherein.NirmalBangResearchoritsaffiliatesmayfromtimetotimesolicitfromorperforminvestmentbankingorotherservicesforanycompanymentionedinthisdocument. Nirmal Bang Research (Division of Nirmal Bang Securities PvtLTD) B-2, 301/302, Marathon Innova, opp. Peninsula Corporate Park Off GanpatraoKadam MargLower Parel(W), Mumbai-400013Board No. : 91 22 3926 8000/8001 Fax. : 022 3926 8010

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Technical Call: Sell Jindal Steel for a target of Rs275 - Nirmal Bang

  • 1. 21 August 2014 CMP : Action : Targets : Stop-loss : Comment : 294 SELL 275/260 305 Closing Basis Thestockaftercompletingits5wavedeclinehasrecentlycorrectednearitswave‘iv’whichisaroundthe300levels. Therecentrisehasbeeninan‘abc’correctiveformationandthestockalsoformedmultipleDojicandlestickwhichconfirmsindecisionneartheresistancezonewhichindicatesaprobableshorttermhighinplace. Analyst Name ManavChopra, CMT Contact:-022-39268255 manav.chopra@nirmalbang.com JINDAL STEEL FUT DAILY CHART Duration : 1 Week
  • 2. COMPANY NAME GRAPH NAME Disclaimer: ThisDocumenthasbeenpreparedbyNirmalBangResearch(ADivisionofNirmalBangSecuritiesPVTLTD).Theinformation,analysisandestimatescontainedhereinarebasedonNirmalBangResearchassessmentandhavebeenobtainedfromsourcesbelievedtobereliable.Thisdocumentismeantfortheuseoftheintendedrecipientonly.Thisdocument,atbest,representsNirmalBangResearchopinionandismeantforgeneralinformationonly.NirmalBangResearch,itsdirectors,officersoremployeesshallnotinanywayberesponsibleforthecontentsstatedherein.NirmalBangResearchexpresslydisclaimsanyandallliabilitiesthatmayarisefrominformation,errorsoromissionsinthisconnection. Thisdocumentisnottobeconsideredasanoffertosellorasolicitationtobuyanysecurities.NirmalBangResearch,itsaffiliatesandtheiremployeesmayfromtimetotimeholdpositionsinsecuritiesreferredtoherein.NirmalBangResearchoritsaffiliatesmayfromtimetotimesolicitfromorperforminvestmentbankingorotherservicesforanycompanymentionedinthisdocument. Nirmal Bang Research (Division of Nirmal Bang Securities PvtLTD) B-2, 301/302, Marathon Innova, opp. Peninsula Corporate Park Off GanpatraoKadam MargLower Parel(W), Mumbai-400013Board No. : 91 22 3926 8000/8001 Fax. : 022 3926 8010