Technical Portfolio Guide
ADITYA BIRLA FASHION AND RETAIL LTD
CMP : Rs259.30
BSE Code : 535755
Please share your view on Aditya Birla Fashion for the short term as I’m planning to buy this stock.
- Leela Munot
BUY AT THE CURRENT MARKET PRICE
The stock is in a clear uptrend as it is moving in a staircase manner. It is trading 19.30 per cent above the 50-DMA and 14.46 per cent above the 20-DMA. It is also 25.64 per cent above the 30-weekly average. Mansfield's relative strength is above the zero line, showing the outperformance compared to the broader market. The 40-weekly average acted as strong support several times. The weekly RSI is quoting at 71.19 and it is in a rising mode. Interestingly, the daily RSI has taken support near the 60 zone, which indicates range shift as per the RSI range shift rules. The daily MACD stays bullish as it is trading above its zero line and signal line. The daily ADX is currently quoting at 32.45 level, which indicates strength. The +DI is above the -DI. Considering all the above factors, we recommend you to buy this stock at the current market price. On the downside, the 20-day EMA is likely to act as strong support for the stock, which is currently quoting at Rs 231 level.
YASHO INDUSTRIES LTD
CMP : Rs1240.35
BSE Code : 541167
What’s your view on Yasho Industries? I’m holding 250 shares of this stock from the lower levels.
- Akash Saxena
HOLD THE STOCK WITH A TRAILING STOP-LOSS
This micro-cap BSE-listed company has given 10x returns since August 2020. The stock is meeting CANSLIM characteristics. It has great relative strength of 97 while Master score B indicates strong fundamental as well as technical strength. The stock is continuously hitting the upper circuit. It has been above the Bollinger Bands for the last four days. The volume is also above-average and it is at a fresh lifetime high. It may retrace at some point in time. Hold the stock with a trailing stop-loss as per your risk appetite.
NTPC LTD
CMP : Rs142.75
BSE Code : 532555
Can I buy the stock of NTPC at the current levels?
- Gladwin Samuel
CAN BE ACCUMULATED AT THE CURRENT LEVELS
The stock is trading at a three-year high and moving in a staircase manner. The volume recorded is above average. The stock is one of the major players in the PSU stocks rally. Its relative price strength is improv-ing. The stock is comfortably placed above the short and long-term moving averages. The stock is 24.31 per cent above the 30-weekly moving average. The 10, 30, and 40-weekly averages are trending upside and also, meeting Stan Weinstein’s rule of investing. It is also meeting many of the CANSLIM characteristics, except for one. The stock rose over 30 per cent from the recent swing low. The weekly ADX (27.7) is showing solid trend strength while Pring’s KST has given a fresh buy signal. It is also above the anchored VWAP. Overall, the stock is in a strong bullish trend. It can be accumulated at the current market price with a prior week’s low as the stop-loss. It can test the previous high of Rs 156 in the short term. Above that, it continue with a trailing stop-loss.
THERMAX LTD.
CMP : Rs1350.05
BSE Code : 500411
What’s your view on Thermax? I had bought this stock at Rs 1,380.
- Ajay Ch
MAINTAIN A STOP-LOSS AT RS 1,344
After hitting a lifetime high in May, the stock is consolidating. It is forming head & shoulders kind of a pattern with a neckline around Rs 1,300 level. The stock is taking the support at a 40-weekly average. It is below the 10 and 30-weekly average, and they are trending down. Its relative price strength is also very poor at 40, which is negative for the stock. The weekly MACD is below the signal line but near the zero line. The -DMI has just moved above the +DMI, which is negative while the ADX is continuously declining, showing a weakening trend. The Elder impulse system has given a sell signal. A move below the Rs 1,300 level is a breakdown for the stock. Maintain a stop-loss at Rs 1,344 on a weekly closing basis.