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You are here : IndiaNotes >> Research & Analysis >> Companies >> Capital First Ltd. >> Research

Technical Calls: Buy Capital First and Cummins India

SMC | 21 Mar, 2017  | Follow Author | Add to my Favourites 
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Capital First:


The stock closed at Rs712.10 on 17th March 2017. It made a 52-week low at 390.90 on 16th March 2016 and a 52-week high of 797.40 on 28th July 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 607.72.


After a drastic fall from 790 levels, it finally took a rebound near 500 levels and recovered its lost value with the increase in price and volumes. Moreover, it has gained momentum last week which shows its potential to remain upwards in the near term. Therefore, one can buy in the range of 690-700 levels for the upside target of 730-740 levels with SLbelow 670.


Cummins India:

 

The stock closed at 894.10 on 17th March 2017. It made a 52-week low at 746.15 on 26th May 2016 and a 52-week high of 947 on 09th September 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 860.18.


After a steep rise, this particular scrip fell drastically and sustained thereafter by forming a fresh buying pivot at 750 levels. It is again trading into consolidation phase and looking at the momentum, it is advisable to buy on dips to attain good returns in the near term. Therefore, one can buy in the range of 870-880 levels for the upside target of 920-930 levels with SL below 845.



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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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