Technical Portfolio Guide
PVR LTD
CMP : Rs 1,056.45
BSE Code : 532689
I am holding the stocks of PVR at an average price of Rs 900 for a short-term. Should I continue to hold this scrip?
- Hemant Bahuguna
BOOK PROFIT IN PVR AT THE CURRENT MARKET PRICE
PVR Ltd is currently trading at Rs 1,056.45. Its 52-week high/low stands at Rs 2,121/Rs 719.50 made on February 02, 2020 and May 19, 2020 respectively. The stock has formed a reversal spinning bottom like candlestick pattern as on the weekend of May 22, 2020 and thereafter, witnessed almost 53 per cent pullback rally. The pullback rally is halted near 38.2 per cent retracement level of its prior downward move (Rs 2,125-Rs 718.30), where the stock has formed a reversal dark cloud cover candlestick pattern. Along with this bearish formation, the stock has managed to close below its weekly pivot and short-term moving averages, i.e. eight-day EMA and 13-day EMA. Among the momentum indicators, the 14-period daily RSI has cooled off after touching the zone of 72 and at present, its reading is 54.05. The RSI is trading below its nine-day average, which indicates further downside momentum. The fast stochastic is also trading below its slow stochastic line. Further, the fading momentum is also indicated by the MACD histogram that is declining since the last two trading sessions. Considering all the above factors, we recommend you to book profit in PVR at the current market price.
ADVANCED ENZYME TECHNOLOGIES LTD
CMP: Rs 166.10
BSE Code:540025
I am holding Advanced Enzyme bought at Rs 135. What to do now?
- Pranav Pandey
HOLD ADVENZYMES WITH A STOP-LOSS OF RS 158 ON CLOSING BASIS
Advanced Enzyme Technologies Ltd is currently trading at Rs 166.10. Its 52-week high/low stands at Rs 206.85/Rs 91.05 made on November 04, 2019 and March 23, 2020 respectively. The stock has formed a reversal bullish pin bar candlestick pattern as on the weekend of March 27, 2020 and thereafter, witnessed a pullback rally. Considering the daily timeframe, the stock has recently given a downward sloping trendline breakout along with a strong volume, which suggests further bullish momentum. Currently, the stock is trading above its long and short-term moving averages. The leading indicator, 14-period daily RSI, is in a super bullish zone and interestingly, it has given a breakout of symmetrical triangle pattern, which is also a bullish sign. The momentum indicator-MACD line has crossed above the signal line, which resulted in the histogram turning positive. The ADX is very strong at 31.35. The -DI is below +DI and ADX is above -DI and +DI. This shows a technical strength in the stock. Hence, we recommend you to hold Advanced Enzyme Technologies with a stop-loss of Rs 158 on closing basis.
DEWAN HOUSING FINANCE CORP. LTD
CMP : Rs 15.35
BSE Code :511072
Can I buy DHFL at the current market price for a long-term?
- D Aravazhi
AVOID BUYING DHFL FOR NOW
Dewan Housing Finance Corporation Ltd is currently trading at Rs 15.35. Its 52-week high/ low stands at Rs 95.90/Rs 8.40 made on June 12, 2019 and April 01, 2020 respectively. The stock has given a breakdown of upward sloping trendline support as on the weekend of September 21, 2018 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. After looking at the daily chart, it can be observed that it has been continuously trading below its 200-day SMA level from September 2018. The leading indicator, 14-period weekly RSI, is currently quoting at 44.15 and it has not been able to cross 60 mark since August 2018. The poor volumes and oscillators lying below 50, depict a lack of momentum in the stock. Considering all the above factors, we recommend you to avoid buying DHFL for now.
RAYMOND LTD
CMP : Rs 285.60
BSE Code : 500330
I have bought 80 shares of Raymond at an average price of Rs 240. What to do now? Hold or sell?
- D S Chandrashekar
BOOK PROFIT IN RAYMOND AT THE CURRENT MARKET PRICE
Raymond Ltd is currently trading at Rs 285.60. Its 52-week high/low stands at Rs 838/Rs 209.50 made on November 11, 2019 and March 30, 2020 respectively. The stock has given a neckline breakout of Adam and Eve double bottom pattern as on June 05, 2020 and thereafter, it surged sharply up to the level of Rs 360.90, which is beyond its double bottom pattern’s target. Considering the daily timeframe, the stock has formed a reversal gravestone doji like candlestick pattern as on June 08, 2020, which suggests a correction before another northward journey. Further, the stock is trading below its long-term moving averages, i.e. 100-day EMA and 200-day EMA. Among the momentum indicators, the 14-period daily RSI has cooled off after touching the zone of 82 and at present, its reading is 59.67. The daily stochastic has given a bearish crossover, which indicates a further downside momentum. Considering all the above factors, we recommend you to book profit in Raymond at the current market price.