Technical Portfolio Guide
WOCKHARDT LTD
CMP: Rs 354.55
BSE Code: 532300
Please suggest what should I do with Wockpharma that I bought at Rs 280 for short-term?
- Ajinkya Ahire
HOLD WOCKHARDT WITH A STOP-LOSS OF RS 315 ON CLOSING BASIS
Wockhardt Ltd is currently trading at Rs 354.55. Its 52-week high/low stand at Rs 470.50/Rs 230 made on April 01, 2019 and October 09, 2019 respectively. The stock had formed a reversal spinning top candlestick pattern as on weekend of April 10, 2015 and thereafter, marked the sequence of lower tops and lower bottoms. Considering the daily time frame, the stock had formed a triple top pattern near the long-term support. And recently, the stock had given a neckline breakout of triple top pattern along with robust volumes, which indicates further upside momentum. Currently, the stock is trading above its long and short-term moving averages, i.e. 20-day EMA, 50-day EMA, 100-day EMA and 200-day EMA. The leading indicator, 14-period daily RSI, is in super bullish zone. The weekly RSI has given a breakout of inverted head and shoulders pattern, which depicts positive momentum. The daily and weekly MACD stays bullish as it is trading above its zero line and signal line. The histogram is suggesting that the momentum is picking up. Hence, we recommend you to hold Wockhardt Ltd with a stop-loss of Rs 315 on closing basis.
KCP LTD
CMP: Rs 65.75
BSE Code: 590066
I have shares of bought KCP Ltd at Rs 80 for the medium-term. Should I wait or exit?
- Prashant Wakekar
EXIT IN KCP AT CURRENT MARKET PRICE
KCP Ltd is currently trading at Rs 65.75. Its 52-week high/low stand at Rs 100.05/Rs 55.10 made on April 18, 2019 and November 18, 2019 respectively. The stock had given a breakdown of upward sloping trendline support as on weekend of June 08, 2018 and thereafter, marked the sequence of lower tops and lower bottoms. Currently, the stock is trading below its 50-week EMA (74.40), 100-week EMA (83.85) and 200-week EMA (86.50), which indicates a medium and long-term downtrend. The daily chart has been continuously trading below its 200-day EMA level since May 2019. The leading indicator, 14-period weekly RSI, is currently quoting at 44.57 and it is not able to cross 60 mark since April 2018. The stochastic oscillator is also suggesting some bearish momentum as per cent K is below the per cent D. 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 exit in KCP Ltd at the current market price.
ALLCARGO LOGISTICS LTD
CMP: Rs 113.10
BSE Code: 532749
I have bought the shares at Rs 95 for the medium-term. What are the prospects of Allcargo?
- M M Laxmeshwar
HOLD ALLCARGO LOGISTICS WITH A STOP-LOSS OF RS 103 ON CLOSING BASIS
Allcargo Logistics Ltd is currently trading at Rs 113.10. Its 52-week high/low stand at Rs 126/Rs 87.35 made on March 14, 2019 and September 04, 2019 respectively. The stock had given a breakdown of upward sloping trendline support as on weekend of March 09, 2018 and thereafter, marked the sequence of lower tops and lower bottoms. Considering the weekly time frame, the stock had recently given a breakout of downward sloping trendline resistance formed by connecting swing highs from August 2018, which indicates further upside momentum. Along with this trendline breakout, the ADX which shows the strength of trend, turned upside and moved above the -DI. Since the last three weeks, the volumes recorded were above 50-week average, which is a sign of accumulation. Majorly, the stock is displaying a bullish trend as it is trading above its weekly pivot and short & long-term moving averages, that is, 20-day EMA, 50-day EMA, 100-day EMA, and 200-day EMA. The 14-period daily and weekly RSI is in the rising trajectory, which suggests bullish bias. The weekly and daily MACD stays bullish as it is trading above its zero line and signal line. Considering all the above factors, we recommend you to hold Allcargo Logistics with a stop-loss of Rs 103 on closing basis.
WONDERLA HOLIDAYS LTD
CMP: 251.50
BSE Code: 538268
I have bought shares of Wonderla Holidays at Rs 240. It is not moving in the medium- term. Please guide.
- Abhishek Singh
EXIT IN WONDERLA HOLIDAYS BELOW RS 230 ON CLOSING BASIS
Wonderla Holidays Ltd is currently trading at Rs 251.50. Its 52-week high/low stand at Rs 320.95/Rs 232 made on April 01, 2019 and July 23, 2019 respectively. The stock had given a breakdown of rectangle pattern as on weekend of September 07, 2018 and thereafter, marked the sequence of lower highs. The major trend of the stock is bearish as it is trading below its long and short-term moving averages, i.e. 20-week, 50-week, 100-week and 200-week EMAs. The leading indicator, 14-period weekly RSI, is currently quoting at 43.95 and it is not able to cross 60 mark since May 2019. The weekly MACD stays bearish as it is trading below its zero line and signal line. On the weekly chart, the MACD is below its zero line for eight weeks and below the signal line for seven weeks. Moreover, the fast stochastic is also trading below its slow stochastic line, which depicts a negative momentum. Hence, we recommend you to exit in Wonderla Holidays below Rs 230 on closing basis.