Your Technical Portfolio Guide
EID PARRY (INDIA) LTD
CMP: Rs223.10
BSE Code: 500125
I have bought shares of EID Parry at Rs 190, should I hold or book profits? - Ajit Chattar
BOOK PROFIT IN EID PARRY (INDIA) AT CURRENT MARKET PRICE
East India Distilleries (EID) Parry (India) Ltd is currently trading at Rs 223.10. Its 52-week high/ low stand at Rs 245.35/Rs 135.40 made on February 07, 2020 and July 31, 2019 respectively. The stock had given a horizontal trendline breakout as on November 13, 2019 and thereafter, marked the sequence of higher tops and higher bottoms. Considering the daily time frame, the stock had recently given a neckline breakdown of Adam and Adam double top pattern, which suggests correction before another northward rally. Along with this bearish formation, the stock has also managed to close below its weekly pivot and short-term moving averages, i.e. 13-day EMA, 20-day EMA and 50-day EMA. The 14-period daily RSI is currently quoting at 49.28 and it is in falling mode, which indicates further downside momentum. The daily MACD stays bearish as it is trading below its zero line and signal line. Moreover, there has been a negative divergence between daily RSI, daily stochastic and the stock price movement, which suggests limited upside. Considering all the above factors, we recommend you to book profit in EID-Parry (India) at current market price.
GLAXOSMITHKLINE PHARMACEUTICALS LTD
CMP: Rs1343.95
BSE Code: 500660
I am holding shares of Glaxo bought at Rs 1,640. What should I do now? - Sanjay Pawar
EXIT GLAXOSMITHKLINE PHARMACEUTICALS AT CURRENT MARKET PRICE
GlaxoSmithKline Pharmaceuticals Ltd is currently trading at Rs 1,343.95. Its 52-week high/ low stand at Rs 1,745/Rs 1,131.05 made on January 29, 2020 and July 12, 2019 respectively. Considering the daily time frame, the stock had recently given a neckline breakdown of Adam and Adam double top pattern along with strong volumes and there- after, marked the sequence of lower highs. With this double top pattern breakdown, the stock has also managed to close below its 20-day EMA, 50-day EMA, 100-day EMA and 200-day EMA. Among the momentum indicators, the 14-period weekly RSI is currently quoting at 36.35 and it is in bearish zone. The RSI is trading below its nine-week average and it is in falling mode, which indicates further downside momentum. The daily and weekly MACD stays bearish as it is trading below its zero line. The histogram is suggesting the bearish momentum. Moreover, the weekly stochastic is also suggesting some bearish momentum as per cent K is below the per cent D. Considering all the above factors, we recommend you to exit in Glaxo at current market price.
IIFL FINANCE LTD
CMP: Rs208.50
BSE Code: 532636
I am holding 80 shares of IIFL at an average price of Rs 155. What to do now? Should I hold or sell? - Sachin Pawar
HOLD IIFL FINANCE WITH A STOP-LOSS OF RS 170 ON CLOSING BASIS
IIFL Finance Ltd is currently trading at Rs 208.50. Its 52-week high/low stand at Rs 212.16/ Rs 98.85 made on April 11, 2019 and August 05, 2019 respectively. The stock had formed a spinning bottom pattern as on weekend of October 18, 2019 and thereafter, marked the sequence of higher tops and higher bottoms. Considering the daily time frame, the stock had recently given a breakout of ascending triangle pattern along with a strong volume, which indicates further upside momentum. Currently, the stock is trading above its weekly pivot and short and long-term moving averages i.e. 20-day EMA, 50-day EMA and 100-day EMA. The leading indicator, 14-period weekly RSI is currently quoting at 62.07 and it has given one year flat zone breakout, which depicts further positive momentum. The daily MACD line just crossed the signal line and the histogram became green. The ADX is very strong at 42.42. The -DI is below the +DI and ADX is above the -DI. This shows a technical strength in the stock. Considering all the above factors, we recommend you to hold IIFL Finance with a stop-loss of Rs 170 on closing basis.
GUJARAT ALKALIES & CHEMICALS LTD
CMP: 378.55
BSE Code: 530001
May I enter in GUJALKALI for medium-term as it has fallen considerably? - Prafull Bhandari
AVOID BUYING GUJARAT ALKALIES & CHEMICALS FOR NOW
Gujarat Alkalies & Chemicals Ltd is currently trading at Rs 378.55. Its 52-week high/low stand at Rs 595.80/Rs 351.75 made on May 27, 2019 and February 07, 2020 respectively. The stock had formed a reversal shooting star candlestick pattern as on weekend of January 19, 2018 and thereafter, marked the sequence of lower tops and lower bottoms. Currently, the stock is trading below its 20-week EMA (414.30), 50-week EMA (450.80), 100-week EMA (479.10) and 200-week EMA (451.90), which indicates a medium and long-term downtrend. The daily chart has been continuously trading below its 200-day EMA level since June 2019. The leading indicator, 14-period weekly RSI is currently quoting at 40.86 and it is trading below its nine-week average. The weekly MACD stays bearish as it is trading below its zero line and signal line. Moreover, on the directional index, the bearish strength is higher than the bullish strength, as +DI is much below the -DI. Considering all the above factors, we recommend you to avoid buying Gujarat Alkalies & Chemicals for now.