Technical Portfolio Guide

GREENPLY 

CMP: Rs 276
BSE Code:526797 

Is Greenply at bottom-fishing level? I want to average down to minimise losses. 

- Sumanth Suresh 

AVOID GREENPLY INDUSTRIES FOR NOW 

Greenply Industries is currently trading at Rs 276. Its 52-week high/low stand at Rs 401.05/Rs 255 made on January 10, 2018 and August 18, 2017, respectively. The stock had witnessed downward sloping trendline breakout at Rs 290 on November 6, 2017 and had hit an all-time or 52-week high at Rs 401. Thereafter, the stock tumbled, making lower tops and lower bottoms up to Rs 274.10 level. Currently, the stock is lying at its extended trendline support area. Below these levels, the stock may fall further up to its 52-week low levels. The stock has not signalled any reversal so far, despite the oscillators being in the oversold zone and uncertain volumes. We suggest you to avoid. 

HSCL 

CMP: Rs 136.50
BSE Code:500184 

Can I Buy HSCL at the current levels to average? My initial buying was at Rs 155. 

- Venugopal Raju 

AVOID HSCL FOR NOW, ENTER ABOVE RS 142 

HSCL is currently trading at Rs 136.50. Its 52-week high/low stand at Rs 197/Rs 58 made on January 15, 2018 and May 24, 2017, respectively. Considering the monthly time frame, the stock has bounced back from above the 50% retracement of the prior sharp upward rally from January 2017 to January 2018. Considering the weekly time frame, the stock consolidated for four weeks at its all-time high levels and corrected gradually. Considering the daily time frame, the stock gave a support range breakdown at Rs 140-150 and tumbled up to Rs 120 level. It has bounced back as if for a pullback of the support breakdown. Hence, we suggest you to enter above Rs 142 but exit the entire position if it falls below Rs 120.

FEDERAL BANK 

CMP: `82.70
BSE Code 500469

I am holding Federal Bank at Rs 87. What should I do now? 

- Puspendu Bikas Mandal 

EXIT FEDERAL BANK BELOW RS 80-77 OR RS 86-89 ON A BOUNCE 

Federal Bank is currently trading at Rs 82.70. Its 52-week high/low stand at Rs 127.75/80.15 made on October 17, 2017 and May 21, 2018 respectively. Considering the weekly time frame, after hitting a kind of double top at the all-time high levels, the stock witnessed lower tops and lower bottoms and is trailing at the recent bottom levels. The current level also acts as its multiple resistance-turned-support level. Initially, the level of Rs 100 was a major breakdown for the stock, which it tried to break recently in May 11 week but failed to sustain and retreated. We suggest you to exit below Rs 80 to downside Rs 77 level, as it may crash below these levels. 

ASTRA ZENECA 

CMP: Rs 1183.55
BSE Code:506820 

The pharma sector looks promising. Can I enter Astrazeneca? 

- Shankar Rao 

ENTER ASTRAZENECA PHARMA INDIA ABOVE RS 1207 

Astra Zeneca is currently trading at Rs 1183.55. Its 52-week high/low stand at Rs 1278/Rs 882.55 made on November 7, 2017 and August 22, 2017, respectively. Considering the weekly time frame, the stock was about to form an inverse head and shoulders (H&S) pattern with Rs 1280 as the conformation of the pattern breakout. However, the stock tumbled sharply from just below Rs 1280 in the first half of January 2018 up to the inverse H&S head line. It bounced back in the first week of April 2018 and has risen sharply till the current week as if a V-pattern is in the making. Considering the daily time frame, the stock has broken out of its rounding bottom neckline level at Rs 1190. We suggest a Buy. 

SHRIRAM TRANSPORT FINANCE 

CMP: Rs 1476.60
BSE Code 511218 

I had bought Shriram Transport at Rs 1450 level in March 2018, but failed to exit at its high. What should I do now? 

- Vishal Agarwal 

HOLD SHRIRAM TRANSPORT FINANCE WITH A STOP LOSS OF RS 1380 

Shriram Transport Finance is currently trading at Rs 1476.60. Its 52-week high/low stand at Rs 1670.60/Rs 897.55 made on April 27, 2018 and August 11, 2017 respectively. Considering the weekly time frame, the stock had given a multiple resistance breakout at Rs 1330 in December 2017. After hitting Rs 1545 level, t he stock witnessed a pull-back up to the resistance level. Thereafter, the stock gave a sharp upside rally up to its all-time high levels, but gave a double top and tumbled up to 68.1% retracement level. The current week shows a bounce-back and hence we suggest you to hold with a stop loss of Rs 1380. 

CG POWER 

CMP: Rs 71.90
BSE Code:500093 

I am holding CG Power bought at Rs 83 and since then it has reversed and fell badly. What to do? 

- Rakesh Boxi 

EXIT CG POWER AND INDUSTRIAL SOLUTIONS 

CG Power is currently trading at Rs 71.90. Its 52-week high/low stand at Rs 99/Rs 67.60 made on January 12, 2018 and August 11, 2017 respectively. Considering the weekly time frame, the stock has seen higher tops and higher bottoms since February 2016 till January 2018. The stock hit double top at Rs 99 level and, thereby, it tumbled almost hitting near its prior multiple support at Rs 75 level. The stock witnessed a pullback, followed by a retreat below its support at Rs 75. Meanwhile, the stock also broke below its major EMA levels. The volumes are poor and the oscillators do not show any reversal for now. Hence, we suggest you to exit.