Technical Portfolio Guide
ION EXCHANGE (INDIA) LTD
CMP : Rs 2,302.75
BSE Code : 500214
I’m holding 200 shares of Ion Exchange for a long time and it has given good profit. Should I continue to hold or book profit at the current levels?
- Azharuddin Ali
A DECISIVE MOVE ABOVE RS 2,350-RS 2,390 IS POSITIVE FOR THE STOCK
The stock has declined over 20 per cent from the recent lifetime high. Currently, it is in a counter-trend consolidation and hovering around the 20-DMA. Bollinger Bands have contracted. Expect a decisive trending move if the price closes above the 20-DMA for two days. The volumes have been below average for the past 12 weeks. The relative price strength is as high as 83, and a strong EPS strength is attracting institutional interest. The stock is trading below 50-DMA. There is a clear lack of momentum in the stock as of now. Only a decisive move above Rs 2,350-Rs 2,390 can be positive for the stock while a close below Rs 2,290 is negative.
INFIBEAM AVENUES LTD.
CMP : Rs41.40
BSE Code : 539807
Can Infibeam Avenues be bought at the current levels?
- Vishal Kumar
AVOID THIS STOCK
The stock price has behaved erratically on the daily timeframe. There is no rhythm in the price action. It is difficult to trade in this stock unless you have a gut feeling. It is trading 5.09 per cent below the 20-DMA & 5.39 per cent below the 50-DMA, and both are trending down. None of the indicators are showing positive strength in the stock. The MACD is below the signal line and zero line. The RSI is making lower lows and is at the prior swing low. The ADX is showing poor trend strength at 14.02. The -DMI is dominating the +DMI. It is much below the anchored VWAP. The Elder impulse system has given a fresh sell signal. Pring’s KST has also given a sell signal. In short, avoid this stock at the current level, and look for a better stock in the sector.
SANOFI INDIA LTD.
CMP : Rs7,795.70
BSE Code : 500674
Please share your view on Sanofi India for the medium term.
- Ram Chandra
AVOID THIS STOCK
The stock has been consolidating for the last 74 weeks in the range of Rs 7,424-Rs 8,990. With this prolonged consoli-dation, its relative price strength is at a very poor level. The stock is trading below all the key moving averages, and they are trending down. The volumes have been below average for the last seven weeks. The weekly MACD has given a sell signal in the current week. The RSI is showing a negative bias, and the daily RSI is in the bearish zone. This stock is an underperformer in the sector too. It is below the anchored VWAP support. Pring’s KST and the Elder impulse system have given a sell signal. Avoid buying this stock as long as it trades below Rs 8,070. A decline below Rs 7,424 is a big negative for the stock
JAI CORP LTD.
CMP : Rs130.15
BSE Code : 512237
I had bought Jai Corp Ltd at the level of Rs 145 early this month. Should I continue to hold this stock? If yes, what should be the stop-loss level? |
- Anil Kumar
MAINTAIN A STOP-LOSS OF RS 117-RS 122
The stock is in counter-trend consolidation for the last 11 weeks. It is trading below the key moving averages. It is 5.30 per cent below the 50-DMA and 2.31 per cent below the 20-DMA. The 50-DMA is in a downtrend. The MACD is below the zero line. The weekly histogram shows an increase in negative momentum. As Bollinger Bands have flattened and are contracting, they may consolidate further for some more time before taking a decisive path. The ADX (15.27) is not showing a strong trend while all the directional indicators are trending down, which is negative. RSI is in the neutral zone. It is below the anchored VWAP support. Maintain a stop-loss at Rs 117-Rs 122 zone. A move above Rs 141 is positive for the stock, and it can test the previous high.