Technical Portfolio Guide
LAURUS LABS LTD
CMP: Rs282.10
BSE Code:540222
I have bought the shares of Laurus Labs at Rs 250 after breakout for medium-term. What should I do now?
- Amit Karki
BOOK PROFIT IN LAURUSLABS AT THE CURRENT MARKET PRICE
Laurus Labs Ltd is currently trading at Rs 282.10. Its 52-week high/low stands at Rs 345/Rs 61.90 made on October 30, 2020, and March 24, 2020, respectively. After registering the 52-week low, the stock has marked the sequence of higher tops & higher bottoms. However, recently, the stock has given a neckline breakdown of the triple top pattern, which suggests a correction before another northward rally. Along with this pattern breakdown, the stock has also managed to close below its short-term moving averages, i.e. 20-day EMA and 50-day EMA level. Talking about the momentum indicators, the daily RSI is in a bearish trajectory and it’s in a falling mode. Further, in the last pullback, the RSI has resisted near the 60-mark, which suggests a range shift as per the RSI range shift rules. Moreover, the daily MACD stays bearish as it is trading below its zero line and signal line. The histogram is suggesting a pickup in the downside momentum. Technically, all the factors are aligned to support bear for the short to medium-term. Hence, we recommend booking profit in Laurus Labs at the current market price.
ACCELYA SOLUTIONS INDIA LTD
CMP : Rs819.90
BSE Code : 532268
Can I enter Accelya Solutions as it has fallen a lot in recent days?
- Ajith Kumar
AVOID BUYING ACCELYA SOLUTIONS FOR NOW
Accelya Solutions India Ltd is currently trading at Rs 819.90. Its 52-week high/low stands at Rs 1,247/Rs 808.05 made on November 19, 2019, and November 11, 2020, respectively. From the high of Rs 1,890 that was registered on the weekend of February 10, 2020, the stock has marked the sequence of lower tops & lower bottoms. Recently, the stock has given an upward sloping trendline breakdown, which suggests a further bearish momentum. Currently, the stock is trading below its short and long-term moving averages. Interestingly, the weekly RSI has also given an upward sloping trendline breakdown. The weekly RSI is in a bearish zone and it’s in a falling mode. Three weeks back, the momentum indicator, MACD line has crossed under the signal line, which resulted in the histogram turning negative. Moreover, the weekly stochastic oscillator is also suggesting a bearish momentum as the fast stochastic is trading below the slow stochastic line. Considering all the above factors, we recommend you to avoid buying Accelya Solutions for now.
TUBE INVESTMENTS OF INDIA LTD
CMP : Rs675.60
BSE Code : 540762
I am holding TIINDIA at an average rate of Rs 340 for the long-term. Can I hold or book profit?
- Pradeep Paranjpe
HOLD TIINDIA WITH A STOP-LOSS OF RS 545 ON A CLOSING BASIS
Tube Investments of India Ltd is currently trading at Rs 675.60. Its 52-week high/low stands at Rs 680/Rs 255 made on September 07, 2020, and April 03, 2020, respectively. From the low of Rs 254, which was registered on April 03, 2020, the stock has maintained its rhythm of higher highs and higher lows. As the stock is trading at its all-time high level, 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. Further, the stock is meeting Mark Minervini’s trend template rules. Among the momentum indicators, the 14-period weekly RSI is in a bullish zone and it is trading above its 9-week average. The daily MACD is above the zero line and signal line. And most importantly, the MACD line crossed the prior swing highs. The weekly ADX is very strong at 33.37. The -DI is below the +DI and ADX is above the -DI and +DI. This shows a technical strength in the stock. Hence, we recommend you to hold Tube Investments of India with a stop-loss of Rs 545 on a closing basis.
KARNATAKA BANK LTD
CMP : Rs42.40
BSE Code : 532652
I am holding the shares of Karnataka Bank bought at Rs 48 in August. I expected it to bounce back but it fell more. What should I do?
- Ankit Goel
EXIT IN KARNATAKA BANK AT THE CURRENT MARKET PRICE
Karnataka Bank Ltd is currently trading at Rs 42.40. Its 52-week high/low stands at Rs 74.99/Rs 34.20 made on February 14, 2020, and May 29, 2020, respectively. The stock had given a breakdown of bump & run reversal pattern as on the weekend of March 09, 2020, and thereafter, marked the sequence of lower tops & lower bottoms. Majorly, the stock is displaying a bearish trend as it is trading below its weekly pivot and short and long-term moving averages, that is, 20-week EMA, 50-week EMA, 100-week EMA, and 200-Week EMA. The daily chart shows that it has been continuously trading below its 200-day EMA level from May 2019. This suggests that the stock is in a long-term downtrend. The leading indicator i.e. the 14-period weekly RSI is currently quoting at 44.33 and trading below its 9-week average. The RSI has not been able to cross the 60 mark since May 2019. Moreover, the weekly MACD stays bearish as it is trading below its zero line and signal line. Considering all the above factors, we recommend you to exit in Karnataka Bank at the current market price.