Technical Portfolio Guide
HINDUSTAN UNILEVER
CMP: Rs 1569.25
BSE Code:500696
I had bought HUL for short term at Rs 1520. What should be my next action?
- Kannan Natarajan
HOLD HINDUSTAN UNILEVER WITH A STOP LOSS OF RS 1510
HUL is currently trading at Rs 1569.25. Its 52-week high/low stand at Rs 1581.30/Rs 981.25 made on May 16, 2018 and May 16, 2017, respectively, depicting a pure uptrend. Considering the weekly time frame, the stock surged for five consecutive weeks from week of March 28, with just one weekly breather in May 4 week. Thereafter, the stock has been surging again with two consecutive weekly upticks as of now. Considering the daily time frame, the stock broke out of its resistance level of Rs 1515 on a closing basis on May 16. The breakout was supported by huge volumes and oscillators entering 70. We suggest you to hold for now, with a stop loss of Rs 1510
APOLLO MICRO SYSTEM
CMP: Rs 205.10
BSE Code:540879
I have Apollo Micro System at an average price of Rs 346. Now the stock is trading at Rs 210. Please suggest what to do?
- Satish Acharya
EXIT APOLLO MICRO SYSTEMS IF HELD FOR THE SHORT TERM, FUNDAMENTALLY SOUND
Apollo Micro Systems is currently trading at Rs 205.10. Its 52-week high/low stand at Rs 479.95/Rs 200 made on January 22, 2018 and May 16, 2018, respectively. This means that the stock has been falling since its listing on January 22 till date. The stock price has been in a bearish trend till now and the volumes are low and the 14-period RSI too is lying in the oversold zone since mid-April. The stock has hit a low near Rs 200 for two consecutive days and may correct some more below Rs 200. Technically, if the stock sustains above Rs 200, it may give some reversal. The company is good enough fundamentally and may see some upside on a long term basis.
CRISIL
CMP: Rs 1708
BSE Code:500092
Can I enter CRISIL as it has fallen a lot, waiting for a bounce to average.
- Arumugavelan Narayanan
AVOID CRISIL FOR NOW
CRISIL is currently trading at Rs 1708. Its 52-week high/low stand at Rs 2020.85/1698.05 made on February 14, 2018 and May 16, 2018, respectively, showing a sudden downfall. The stock has made multiple attempts to breach the downward sloping trendline. Recently, the stock broke the trendline at Rs 1923 and climbed up to Rs 1990 on April 17, but it retreated with a sharp downfall to a 52-week low. Recently, the stock also breached its multiple support zone of Rs 1755-1770. However, during the fall, the volumes were falling and the 14-period RSI has hit below 30, which suggests some upside correction in the near future, but not for now. We suggest avoid.
JUST DIAL
CMP: Rs 461.35
BSE Code:535648
I am holding Just Dial at a loss. Can I enter Just Dial for averaging?
- Sagnik Sarkar
BUY JUST DIAL AT CMP
Just Dial is currently trading at Rs 461.35. Its 52-week high/low stand at Rs 648/Rs 326.10 made on January 16, 2018 and August 11, 2017, respectively, showing a downtrend. After hitting 52-week high, the stock fell sharply up to Rs 358 level, which is its psychological support level. It then bounced back up to Rs 483 and resisted multiple times near those levels up to April 19. Thereafter, it again fell up to Rs 358 creating a double bottom-like pattern. Recently, the stock has given a downward sloping trendline breakout with reasonable volumes and 14-period RSI crossing 55-mark, which suggests provisional upside. Currently, the stock is trailing at its 200-day EMA line. We suggest you to Buy the stock at the current levels and reduce your losses.
RAIN INDUSTRIES
CMP: Rs 250
BSE Code:500339
I am holding Rain Industries bought at Rs 305, considering it to be the support level. However, the stock is drowning since then. What to do?
- Seema Daga
EXIT RAIN INDUSTRIES AT A BOUNCE
Rain Industries is currently trading at Rs 250. Its 52-week high/low stand at Rs 475.50/Rs 91.80 made on January 9, 2018 and May 25, 2017, respectively. The stock had made a reversal Doji after it hit 52-week high, and thereafter, it tumbled straight near the level of Rs 303. The stock attempted a bounce-back up to 61.8 per cent retracement level at Rs 409 and formed a multiple resistance zone at these levels. It hit Rs 405 on April 4, but could not breach the level of Rs 409 and retreated to hit Rs 227. Meanwhile, it also broke its 200-day EMA line at Rs 302 on May 11. The fall was supported by huge volumes and the 14-period RSI negative crossover. It may reverse in the near term, but we suggest you to exit on a bounce.
BAJAJ FINANCE
CMP: Rs 2067.25
BSE Code:500034
I have bought Bajaj Finance at Rs 1880 but it is more or less trailing at that level only. Is there a point to hold?
- Soheb
HOLD BAJAJ FINANCE FOR NOW WITH A STOP LOSS OF RS 1790
Bajaj Finance is currently trading at Rs 2067.25. Its 52-week high/low stand at Rs 1989/Rs 1190.40 made on September 8, 2017 and May 23, 2017, respectively. Considering the weekly time frame, the stock has kind of formed a rounding base after consolidating at its 52-week high or all-time high levels for a few weeks. After hitting near Rs 1968 during April 13 week, the stock resisted and is seen consolidating for five weeks till date. Considering the daily time frame, the stock corrected up to 38.2% retracement level from Rs 1968 and has bounced back and surged for four consecutive days. We suggest a hold up to Rs 1790.