Technical Portfolio Guide
EVEREST INDUSTRIES LTD.
CMP: Rs544.30
BSE Code:508906
I am holding the stocks of Everest Industries at an average price of Rs 405 for the long term. Should I continue to hold this scrip?
- A K Deep
HOLD THE SCRIP WITH A STOP-LOSS OF RS 436
The crucial support zone of the stock is Rs 400-Rs 410, which is also your buying level. The stock has rallied about 34 per cent since then and is close to its 52-week high. It has been rallying for five consecutive weeks. The weekly RSI is in bullish territory. The trend indicator ADX is rising and +DMI is much higher than -DMI, which indicates the strong uptrend of the stock. Elder impulse system and Pring’s KST show strong bullishness of the stock. Mansfield’s relative strength shows the outperformance of the stock against the broader market. The 10-WMA happens to be at Rs 436, which is also good support. Falling below 10-WMA might be an indication of the stock getting weaker. Thus, it is recommended to hold the stock with a stop-loss of Rs 436.
TRENT LTD.
CMP: Rs1,032.20
BSE Code:500251
Can I enter Trent at the current levels for a long term i.e. 2 years?
- Chidambaram Ol
ENTER ABOVE RS 1,070 ON A CLOSING BASIS
Trent is a strong company in the retail clothing segment and has given promising returns to its investors in the long term. After the second week of June 2020, the stock has never crossed below its 50-weekly moving average and has been in a strong uptrend since then. It hit a fresh all-time high of Rs 1,209.95 on October 13 but has corrected since then. It has been consolidating in the range of Rs 970-Rs 1,087 for the past five weeks. Elder impulse system shows a neutral sign on the daily timeframe. The weekly RSI shows a sideways movement. Also, the stock recorded a falling volume for the third straight week. Mansfield’s relative strength, however, shows the outperformance of the stock against Nifty 500 index. The stock clearly lacks momentum, and it will only be in the uptrend if it breaks out of its range above Rs 1,070 with huge volumes on a weekly closing basis. Thus, you can consider entering in a position above Rs 1,070 on a closing basis.
INDIAMART INTERMESH LTD
CMP: Rs6,308.30
BSE Code:542726
I am holding Indiamart bought at Rs 8,600. What should I do now?
- Gopinath H S
YOU CAN CONSIDER EXITING AT CMP
The stock slipped by nearly 2 per cent on Wednesday. It slipped below its prior swing low last week and continued its downfall severely thereafter. The stock is seen approaching its 52-week low and is currently trading below all the key moving averages. The ADX is well above 40 and rising, which indicates a strong downtrend. Moreover, the RSI is in bearish territory. Mansfield’s relative strength has moved much below the zero line and indicates dismal performance against Nifty 500 index. Moreover, Elder impulse system shows bearish movement to continue on a weekly timeframe. With technical parameters showing bearishness and no signs of reversal by the stock, you can consider exiting at the current market price.
TEXMACO INFRASTRUCTURE & HOLDINGS LTD.
CMP: Rs67.25
BSE Code: 505400
I have bought Texmaco Infrastructure & Holdings after a breakout at Rs 61. Please suggest the revised stop-loss.
- Anjaneyulu B
HOLD THE STOCK WITH A STOP-LOSS OF RS 66
The stock confirmed the breakout on December 27 and has surged over 16 per cent since then. It is trading above all the short and long-term moving averages while the RSI is at 68, indicating a strong uptrend. The trend indicator ADX is above 25 and rising, which indicates a strong uptrend. Elder impulse system shows bullishness of the stock. Mansfield’s relative strength indicator has crossed above the zero line, and thus, suggests stock’s outperformance against the broader market. The stock hit the high of 73.9 on Wednesday and has witnessed a selling pressure since then. Interestingly, the stock recorded a day’s low of Rs 66.05, which happens to be its 5-DMA. The stock recovered a little from that level to close at Rs 67.25. Thus, we recommend you to keep riding the momentum as the stock is quite bullish and also, hold it with a stop-loss of Rs 66.