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BUY Reliance Capital Limited

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BUY Reliance Capital Limited Reliance Capital Limited IIFL Trading Ideas CMP: Rs 635 Range: Rs 630-640 6-9 Months Tgt: Rs 805 Stop Loss Rs 555 Sector: Finance Symmetrical Triangle Breakout Reliance Capital has been consolidating in a structured manner for the past 6- BUY years. The stock has been coiling like a spring as the trading range got Upside: 26.7% narrower in the past 12-months. The stock made an attempt to break out of the consolidation zone in September 2016 but failed to surpass the declining Stock Data resistance trendline. However, after going through another 6-month of Sensex: 30,067 oscillation, the stock has finally exploded out from the long drawn 52 Week h/l (Rs): 647.5/ 365.1 accumulation zone. Market cap (Rs Cr) : 16,092 BSE code: 500111 Trend reversal - shift to higher top higher bottom cycle NSE code: RELCAPITAL FV (Rs): 10 After making an attempt to break past the declining trend line in September Div yield (%): 1.59 2016, Reliance Capital corrected to lows of Rs 407, which was the major turning point for the stock as it reversed well above its previous low of Rs 303 Shareholding Pattern hit in February 2016. This was exactly the 61.8% retracement of the rally from Sep-16 Dec-16 Mar-17 Rs 303 – Rs 595, which marked the shift to a higher top higher bottom cycle. Promoters 52.15 52.13 52.31 DII+FII 29.70 29.24 29.83 Based on the above evidence, the projection of the consolidation structure Individuals 18.16 18.61 17.86 indicates a potential target of Rs 805, translating into ~26.7% upside. The Source: www.bseindia.com breakout would stand void if Reliance Capital ends below the support of Rs Share Price Trend 555 on weekly closing basis. Monthly Chart RELCAPITAL [N2882] 617.60, 647.55, 596.20, 638.50, 47088528 3.80% Price Log IRIS D 0 2800 2600 2400 2200 Symmetrical triangle 2000 1800 breakout 1600 1400 1200 2 1000 800 Prices as on 25/04/2017 600 400 3 200 Source : www.SpiderSoftwareIndia.Com Vol Cr 25.00 20.00 15.00 10.00 5.00 05:A J A O D 06:J A M J A O D 07:F M J A O D 08:F M J A S O D 09:F M J A O D 10:J A J J A O D 11:J A J J A O D 12:F M J A O D 13:F M J A S O D 14:F M J A S O D 15:J A J J A O D 16:J A J J A O D 17:F Mon Analyst- Hadrien Mendonca [email protected] April 26, 2017 Call Tracker IIFL Trading Ideas Technical Recommendation Reco. Stoploss Target CMP / P & Fundamental Holding Closed Date Stock Name Buy/Sel Status Price Price Price Exit Price L % / Technical Period date Sundram Technical / 6 2-Mar-17 Buy 337.5 297 399 399 18% Closed 31-Mar-17 Fasteners Derivatives Months 15-Mar- TVS Technical / 3 Buy 3065 2697 3590 3590 17% Closed 24-Mar-17 17 Srichakra Derivatives Months 23-Mar- Cadila Technical / 3 Buy 441 397 514 452.65 3% Open 17 Healthcare Derivatives Months Aarti Technical / 3 3-Apr-17 Buy 770 700 903 798.4 4% Open Industries Derivatives Months State Bank Technical / 6-9 11-Apr-17 Buy 290 252 355 286.05 -1% Open Of India Derivatives Months Technical / 6-9 11-Apr-17 OBC Buy 148.5 115 190 156.5 5% Open Derivatives Months GE Shipping Technical / 6 18-Apr-17 Buy 424.5 364 495 454.2 7% Open Company Derivatives Months Fundamental Recommendations Reco Target CMP / P & L Fundamental / Holding Date Stock Name Buy/Sel Price Price Exit Price % Technical Period Status Closed date Bajaj 24-Mar-17 Electricals Buy 315 378 378 20% Fundamental 1 year Closed 6-Apr-17 PNC 12-Apr-17 Infratech Buy 131 173 158.95 21% Fundamental 1 year Open Fiem 20-Apr-17 Industries Buy 1010 1298 1029.85 2% Fundamental 1 year Open Disclaimer Recommendation Parameters for Fundamental/Technical Reports: Buy – Absolute return of over +10% Accumulate – Absolute return between 0% to +10% Reduce – Absolute return between 0% to -10% Sell – Absolute return below -10% Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Information, opinions and estimates contained in this report reflect a judgment of its original date of publication by IIFL and are subject to change without notice. The price, value of and income from any of the securities or financial instruments mentioned in this report can fall as well as rise. The value of securities and financial instruments is subject to exchange rate fluctuation that may have a positive or adverse effect on the price or income of such securities or financial instruments. The Report also includes analysis and views of our research team. The Report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The opinions expressed in the Report are our current opinions as of the date of the Report and may be subject to change from time to time without notice. IIL or any persons connected with it do not accept any liability arising from the use of this document. Investors should not solely rely on the information contained in this Report and must make investment decisions based on their own investment objectives, judgment, risk profile and financial position. The recipients of this Report may take professional advice before acting on this information. IIL has other business segments / divisions with independent research teams separated by 'chinese walls' catering to different sets of customers having varying objectives, risk profiles, investment horizon, etc and therefore, may at times have, different and contrary views on stocks, sectors and markets. Please refer to http://www.indiainfoline.com/research/disclaimer for additional recommendation parameter, analyst disclaimer and other disclosures. Published in 2017. © India Infoline Ltd 2017 India Infoline Limited (Formerly “India Infoline Distribution Company Limited”), CIN No.: U99999MH1996PLC132983, Corporate Office – IIFL Centre, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai – 400013 Tel: (91-22) 4249 9000 .Fax: (91-22) 40609049, Regd. Office – IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane – 400604 Tel: (91-22) 25806650. Fax: (91-22) 25806654 E-mail: [email protected] Website: www.indiainfoline.com, Refer www.indiainfoline.com for detail of Associates. National Stock Exchange of India Ltd. SEBI Regn. No. : INB231097537/ INF231097537/ INE231097537, Bombay Stock Exchange Ltd. SEBI Regn. No.:INB011097533/ INF011097533/ BSE-Currency, MCX Stock Exchange Ltd. SEBI Regn. No.: INB261097530/ INF261097530/ INE261097537, PMS SEBI Regn. No. INP000002213, IA SEBI Regn. No. INA000000623, SEBI RA Regn.:- INH000000248. For Research related queries, write at [email protected] For Sales and Account related information, write to customer care: [email protected] or call on 91-22 4007 1000 .
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