Technical Portfolio Guide
HIL LTD
CMP: Rs 1,075.45
BSE Code: 509675
Please suggest what should I do with HIL, which I bought at Rs 780 for a short-term?
- Prashant kumar
HOLD HIL WITH A STOP-LOSS OF RS 978 ON CLOSING BASIS
HIL Ltd is currently trading at Rs 1,075.45. Its 52-week high/low stands at Rs 1,773/Rs 497.15 made on June 10, 2019 and March 24, 2020 respectively. The stock has marked the high of Rs 1,488 in the month of January and thereafter, witnessed almost 65 per cent correction. The correction is halted at Rs 518.30, where the stock has formed a reversal hammer like candlestick pattern and thereafter, witnessed a pullback rally. Recently, the stock has given a symmetrical triangle breakout, along with a strong volume. Along with this breakout, the stock has also managed to close above its 100-day EMA level after a span of over four months. The leading indicator, 14-period RSI, has also given an ascending triangle breakout, which is also a bullish sign. The 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 HIL Ltd with a stop-loss of Rs 978 on closing basis.
SP APPARELS LTD
CMP: Rs 67.60
BSE Code: 540048
SP Apparels looks interesting and also, it is trading near its all-time low. Shall I enter now?
- Sanjeev Em
AVOID BUYING SP APPARELS FOR NOW
SP Apparels Ltd is currently trading at Rs 67.60. Its 52-week high/low stands at Rs 325/Rs 57.95 made on June 24, 2019 and May 26, 2020 respectively. The stock has formed a reversal spinning top candlestick pattern as on the weekend of June 12, 2017 and thereafter, marked the sequence of lower tops and lower bottoms. 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. Among the momentum indicator, 14-period weekly RSI is in a super bearish zone and it is not able to cross 60 mark since March 2017. 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 still higher than its bullish strength as +DI is much below -DI. Considering all the above factors, we recommend you to avoid buying SP Apparels for now.
ABBOTT INDIA LTD
CMP: Rs 16,671.05
BSE Code: 500488
I have bought the shares of Abbott India at Rs 17,200 for a short-term but it did not sustain above this level. What should I do now?
- Rameez Masoodwani
EXIT ABBOTT INDIA BELOW RS 16,200 ON CLOSING BASIS
Abbott India Ltd is currently trading at Rs 16,671.05. Its 52-week high/low stands at Rs 18,569/Rs 7,750 made on May 04, 2020 and June 07, 2019, respectively. The stock has formed a reversal spinning bottom candlestick pattern as on the weekend of March 19, 2020 and thereafter, bounced sharply up to its all-time high level. Considering the daily time frame, the stock has formed a triple top pattern, which suggests correction before another northward journey. With this, the stock is trading below its short-term moving averages, i.e. 13-day EMA and 20-day EMA level. Among the momentum indicators, the 14-period daily RSI has cooled off after touching the zone of 67-70 and at present, its reading is 46.43. The RSI is trading below its nine-day average and is in a falling mode, which indicates a further downside momentum. The daily MACD stays bearish as it is trading below its zero line and signal line. In case, the stock sustains and closes below the neckline of triple top pattern, which is currently placed at Rs 16,200, then it may extend its downward move. Hence, we suggest you to exit Abbott India below Rs 16,200 on closing basis.
GLENMARK PHARMACEUTICALS LTD
CMP: Rs 395.50
BSE Code: 532296
I have bought the shares of Glenmark Pharma at Rs 320 for the short-term. Should I wait or exit with profits?
- Bhavesh Thakor
HOLD GLENMARK WITH A STOP-LOSS OF RS 343 ON CLOSING BASIS
Glenmark Pharmaceuticals Ltd is currently trading at Rs 395.50. Its 52-week high/low stands at Rs 548/Rs 168 made on June 12, 2019 and March 13, 2020, respectively. The stock has formed a reversal doji candlestick pattern as on the weekend of March 27, 2020 and thereafter, bounced sharply up to the level of Rs 360.95. Recently, the stock has given consolidation breakout along with a strong volume, which suggests a bullish momentum. The major trend of the stock is bullish as it is trading above its weekly pivot and above its long and short-term moving averages, i.e. 20-day, 50-day, 100-day and 200-day EMAs. The relative strength index (RSI), which is a momentum indicator, is trading in a bullish territory in the weekly and daily time frame. The fast stochastic is also trading above its slow stochastic line. Further, ADX is very strong at 44.62 level. The -DI is much below +DI and ADX is above -DI and +DI. This shows a technical strength in the stock. Considering all the above factors, we recommend you to hold Glenmark Pharmaceuticals with a stop-loss of Rs 343 on closing basis.