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For November 26, 2015

A Sharekhan technical research newsletter


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Bulls on Gammon
Gammon India: The stock has started to form higher tops
and higher bottoms on the daily chart which indicates that
the wave 3/C up has started. The volumes are back and the
momentum indicators on the daily as well as on the weekly
charts are now well into the buy mode. The minimum targets
on the upside comes to Rs24.90 and above that Rs30.00,
whereas, the support is pegged at its previous swing high,
hence we advise to place a stop loss at Rs13.70. The previous
move was a clear impulse move from Rs9.30 to Rs44.65, ie
a five-wave rise, hence the probability of this move to be
an impulse is quite high.

Monthly chart
70

GAMMON (I) (1 2.8900 , 15 .49 00, 10.780 0, 15 .4 900, +2.850 00)

65
60
55
50

45
3
40
35

30

25

20
1

15

10

Investment strategy:
Buy Gammon India at the current market price of Rs16.75
for the targets of Rs24.90 and Rs30.00 with a stop loss of
Rs13.70.

A S O N D 20 11

A M J J A S O N D 20 12

A M J J A S O N D 20 13

A M J J A S O N D 20 14

A M J J A S O N D 20 15

A M J J A S O N D 20 16

A MJ J A S O

Risk: Rs16.7513.70 = Rs3.05


Reward: Rs30.00-16.75 = Rs13.25
Risk: Reward: 1:4.35

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Premium Technicals Synopsis

Action
date

Calls

Action

Segments
Reversal^

26.11.15

Gammon India

Buy

20.11.15

HCL Infy

Buy

*DCL

# CMP

^Intra-day

Stop loss/ Stop loss*


(Rs)
price

Reco
price
(Rs)

Cash

13.70

16.75

18.75

Cash

Book Profit

59.00

63.20

Tgt. = Target

Closing Potential #
P/L (%)
(Rs)
(Rs)

Tgt.1
(Rs)

Tgt.2
Rwd.

Risk/

11.94%

24.90

30.00

2/9

7.12%

67.00

72.00

ratio (%)

Rwd. = Reward

Rules for Premium Technicals


1.

The calls are to be initiated the following morning or during market hours in the same day with the recommended stop loss.

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A call can be initiated till it does not achieve its first target with the recommended stop loss.

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The product comprises both F&O (long/short) and non-F&O (delivery based) stocks based on our market view.

4.

Stock selection will be based on momentum, patterns and wave counts.

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Premium Technicals stock ideas include both short-term and positional ideas based on stock structure and risk-reward ratio.

6.

Stop loss has to be followed in the cash market on a daily closing basis.

7.

On achieving the first target (at cash market levels), one should trail for the second target with the cost price as a stop loss on an intra-day
basis to avoid loss.

8.

Stock initiation will be based on the performance of the existing ideas and the market view with an objective to make profit for clients.

9.

If a stock opens with a gap up (in case of buy calls) or a gap down (in case of sell calls) directly at target 1 level in the following morning, then
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the same shall be communicated separately as a special update during the day.
12. One should also follow the segments (ie cash market or F&O market or both) in which the Premium Technicals calls are to be executed, based
on the risk-reward ratio and market view.
Note
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