Technical Portfolio Guide
DR LAL PATHLABS LTD
CMP : Rs1,976.45
BSE Code : 539524
Considering the current pandemic situation, I have bought Lal PathLabs above Rs 1,600 for the near term. What should I do?
- Amol khatode
HOLD LALPATHLAB WITH A STOP-LOSS OF RS 1,760 ON CLOSING BASIS
Dr Lal PathLabs Ltd is currently trading at Rs 1,976.45. Its 52-week high/low stands at Rs 2,029.85/Rs 1,181.80 made on July 21, 2020 and March 24, 2020, respectively. After registering a high of Rs 2,029, the stock has witnessed correction. The correction is halted near 61.8 per cent retracement level of its prior upward rally (Rs 1,543.10-Rs 2,029) and coincides with the 100-day EMA level. Currently, the stock has given a downward sloping channel breakout and initiated its northward journey. All the moving averages based trade set-ups are showing a bullish strength in the stock. Daryl Guppy’s multiple moving averages is suggesting a bullish strength in the stock. An interesting observation is witnessed on the RSI. In the recent corrective phase, the weekly RSI never breached its 60 mark, which indicates that the stock is in a super bullish range as per RSI range shift rules. The daily MACD is above the zero line and signal line. The MACD histogram suggests bullish momentum. And most importantly, the MACD line crossed the prior swing highs. Hence, we recommend you to hold Dr Lal PathLabs with a stop-loss of Rs 1,760 on a closing basis.
COAL INDIA LTD
CMP : Rs124.30
BSE Code : 533278
Coal India is trading near its 52-week low. Can I enter now?
- Karthikeyan Gurijala
AVOID BUYING COAL INDIA FOR NOW.
Coal India Ltd is currently trading at Rs 124.30. Its 52-week high/low stands at Rs 217.90/Rs 119.25 made on November 05, 2019 and March 26, 2020, respectively. After registering the low of Rs 119.20, the stock has witnessed a pullback rally. The pullback rally is halted near the 38.2 per cent retracement level of the prior downward rally (Rs 214.60-Rs 119.20). Currently, the stock 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. After looking at the daily chart, it has been continuously trading below its 200-day EMA level from July 2019. The leading indicator, RSI, is in a bearish territory on both the daily and the weekly timeframe, which is negative for a stock. The daily MACD stays bearish as it is trading below its zero line and signal line. The MACD histogram is suggesting a pickup in the downside momentum. Further, Martin Pring’s long-term KST set up has also given a bearish signal. Considering all the above factors, we recommend you to avoid buying Coal India for now.
CYIENT LTD
CMP : Rs 417.80
BSE Code : 532175
I am holding Cyient at Rs 355 for the short-term. Should I hold or book profit?
- Chandidas Banerjee
HOLD CYIENT WITH A STOP-LOSS OF RS 380 ON CLOSING BASIS
Cyient Ltd is currently trading at Rs 417.80. Its 52-week high/low stands at Rs 514/Rs 184.15 made on February 06, 2020 and May 22, 2020 respectively. From the low of Rs 184, which was registered on May 22, 2020, the stock has maintained its rhythm of higher highs and higher lows and during this process, it has surpassed on resistance, one after the other, in the form of a 200-day EMA and the 61.8 per cent retracement level. Currently, the stock has given a breakout of downward sloping trendline resistance, which suggests a further bullish momentum. The stock is also meeting Mark Minervini’s trend template rules. The leading indicator, 14-period RSI, is in a rising trajectory in both the daily and the weekly timeframe. The average directional index (ADX), which shows trend strength, is as high as 25.71 on a daily chart and 25.28 on a weekly chart. Generally, a level above 25 is considered a strong trend. In both the timeframes, the stock is meeting the criteria. Hence, we recommend you to hold Cyient Ltd with a stop-loss of Rs 380 on a closing basis.
PTC INDIA FINANCIAL SERVICES LTD
CMP : Rs18.15
BSE Code : 533344
I bought PFS at Rs 15 for the short-term but I missed booking profit at higher levels. What should I do now?
- Preksha Dassani
BOOK PROFIT IN PFS AT THE CURRENT MARKET PRICE
PTC India Financial Services Ltd is currently trading at Rs 18.15. Its 52-week high/low stands at Rs 20.50/Rs 6.78 made on August 25, 2020 and March 24, 2020, respectively. The stock has formed a spinning bottom candlestick pattern as on the weekend of March 27, 2020 and thereafter, marked the sequence of higher tops and higher bottoms. Recently, the stock has formed a reversal shooting star candlestick pattern as on the weekend of August 28, 2020, which suggests correction before another northward rally. Along with this bearish formation, the stock has also managed to close below its shortterm moving averages, i.e. 13-day EMA and 20-day EMA. Among the momentum indicators, the 14-period weekly RSI has cooled off after touching the zone of 73-74 and at present, its reading is 67.36. The daily MACD stays bearish as it is trading below its zero line and signal line. Hence, we recommend you to book profit in PFS at the current market price.