Technical Portfolio Guide
DABUR INDIA LTD
CMP: Rs485.35
BSE Code:500096
I am holding the stocks of Dabur India at an average price of Rs 395. Should I continue to hold this scrip?
- Swapnil chidrawar
HOLD DABUR WITH A STOP-LOSS OF RS 435 ON CLOSING BASIS
Dabur India Ltd is currently trading at Rs 485.35. Its 52-week high/low stand at Rs 525.30/Rs 357.10 made on March 5, 2020 and May 16, 2019 respectively. The stock had given a neckline breakdown of Adam & Adam double top pattern as on March 9, 2020 and thereafter, it has witnessed correction. The correction is halted near the upward sloping trendline support, which is formed by connecting swing lows from March 2018. Recently, the stock has given a consolidation breakout on the daily time frame along with relatively higher volumes, which indicates a further upside momentum. Currently, the stock is meeting Daryl Guppy’s multiple moving averages set up rules as it is trading above both the short and long-term moving averages. The stock's relative strength index (RSI) has also given a downward sloping trendline breakout, which is also a bullish sign. The daily MACD stays bullish, as it is trading above its zero line since the last five trading sessions. Moreover, it has also given a buy signal in Martin Pring’s long-term KST set up. Considering all the above factors, we recommend you to hold Dabur India with a stop-loss of Rs 435 on closing basis.
KALPATARU POWER TRANSMISSION LTD
CMP: Rs174.50
BSE Code:522287
I have bought Kalpataru Power Ltd at Rs 185. It is not moving in the short-term. Please guide.
- Chandan Tiwari
EXIT KALPATPOWER BELOW RS 169 ON CLOSING BASIS
Kalpataru Power Transmission Ltd is currently trading at Rs 174.50. Its 52-week high/low stand at Rs 553.50/Rs 170 made on July 1, 2019 and March 27, 2019 respectively. The stock had formed a reversal dark cloud cover candlestick pattern as on weekend of July 5, 2019 and thereafter, marked the sequence of lower tops and lower bottoms. Considering the daily time frame, the stock is trading in a bearish flag kind of pattern since the last ten trading sessions. The major trend of the stock is bearish as it is trading below its short and long-term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The leading indicator, 14-period weekly RSI, is currently quoting at 17.83 and it is in super bearish zone. The weekly MACD stays bearish as it is trading below its zero line and signal line. On the directional index, the bearish strength is higher than the bullish strength as +DI is much below the -DI. In case the stock sustains below the level of Rs 169, it would invite further selling. Hence, we recommend you to exit Kalpataru Power Transmission below Rs 169 on closing basis.
SOLAR INDUSTRIES INDIA LTD
CMP: Rs921
BSE Code:532725
I have bought Solar Industries at Rs 700 for the long-term. Should I wait or exit with profits?
- Nilesh Amberkar
BOOK PROFIT IN SOLAR INDUSTRIES INDIA AT CURRENT MARKET PRICE
Solar Industries India Ltd is currently trading at Rs 921 Its 52-week high/low stand at Rs 1,350/Rs 772.05 made on February 1, 2020 and March 23, 2020 respectively. The stock had formed a spinning bottom like candlestick pattern near the upward sloping trendline support as on weekend of November 22, 2019 and thereafter, bounced sharply up to its all-time high level. Recently, the stock had given a neckline breakdown of triple top pattern, which indicates correction before another northward rally. Along with this neckline breakdown, the stock has also managed to close below its long and short-term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The leading indicator, 14-period weekly RSI, is currently quoting at 35.25 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. The histogram is suggesting a pickup in the downside momentum. Considering all the above factors, we recommend you to book profit in Solar Industries India at the current market price.
VARROC ENGINEERING LTD
CMP: 132.85
BSE Code:541578
Can I buy Varroc Engineering at the current market price for a long-term?
- Sanjay Kumar
AVOID BUYING VARROC ENGINEERING FOR NOW
Varroc Engineering Ltd is currently trading at Rs 132.85. Its 52-week high/low stand at Rs 597.45/Rs 119.20 made on April 16, 2019 and April 03, 2020 respectively. The stock has formed a reversal dark cloud cover candlestick pattern as on weekend of September 7, 2018 and thereafter, marked the sequence of lower tops and lower bottoms. Majorly, the stock is displaying a bearish trend as it is trading below 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 weekly RSI, is in the super bearish zone and is trading below its nine-week average. The fast stochastic is also trading below its slow stochastic line. Moreover, the weekly stochastic stay bearish as it is trading below its zero line and signal line. Considering all the above factors, we recommend you to avoid buying Varroc Engineering for now.