Technical Portfolio Guide
INTRASOFT TECHNOLOGIES LTD.
CMP: ₹ 215.4
BSE Code:533181
I have bought the shares of Intrasoft Technologies Ltd for Rs 200. Should I hold or book profit?
- Sanjeev Gupta
HOLD THE STOCK WITH A STOP-LOSS OF RS 214
Rs 200 happen to be a crucial support level for the stock as it took support multiple times. The stock is currently above 10 per cent over your buy price, which means that you are already sitting with good profits. The bullishness of the stock is quite justified as it jumped about 16 per cent since Tuesday’s low. Moreover, the stock trades above all the key short-term and long-term moving averages, which point towards bullishness of the stock. The RSI indicates a neutral strength in the stock while the MACD line has given a bullish crossover over its signal line. As per the price action of the stock, it does not show any alarming signs of reversal or selling pressure. Thus, it would be a wise decision to continue holding the stock. However, in case the stock goes under selling pressure in the coming days, you can consider keeping your stop-loss at Rs 214, which also happens to be its 20-day moving average. The stock falling below the 20-DMA will indicate weakness and would be the right time to exit the stock.
POONAWALLA FINCORP LTD
CMP: ₹ 252.30
BSE Code:524000
What is the short-term outlook for Poonawalla Fincorp?
- Ashok Garg
BUY ONLY ABOVE RS 265-275
The stock had hit its fresh all-time high of Rs 302.90 on January 11, 2022. Since then, it has corrected about 15 per cent in just a span of one month. Thus, the major trend of the stock still remains bullish. The stock is above all the medium and long-term moving averages while its 20-DMA lies at Rs 265, which is about 5 per cent above the CMP. Along with this, the breakout of the falling trendline lies at Rs 275, which happens to be the strong resistance. Also, the zone of Rs 265-Rs 275 is a crucial zone for the stock, above which, it can witness a tremendous upside. Watch the price action over the mentioned levels keenly to further anticipate the trend of the stock.
RBL BANK LTD
CMP: ₹ 140.30
BSE Code:540065
I bought the shares of RBL Bank at Rs 150 with a medium-term horizon. What is your suggested stop-loss and target?
- Baburaj Rajkumar
HOLD THE STOCK WITH A STOP-LOSS OF RS 130. YOU CAN SET A TARGET AT RS 165
The stock is consolidating in a broad range of Rs 130 to Rs 159 in the past few days. It trades below all the key moving averages while the momentum oscillators point towards the slight bearishness of the stock. The 14-period daily RSI is placed at 44 and indicates neutral strength in the stock while MACD shows an indecisive signal. A good point to note is that the stock isn’t under selling pressure as per the technical chart. On a medium-term horizon, you can continue holding the stock with a stop-loss of Rs 130, which happens to be the lower limit of the range. In case of any upside, Rs 165 will act as a crucial resistance and you can consider exiting the stock with a 10 per cent profit.
DHANI SERVICES LTD
CMP: ₹ 132.45
BSE Code:532960
Is Dhani Services a good buy as it has corrected significantly?
- Brijesh Parekh
AVOID THE STOCK FOR NOW
The stock of Dhani Services is going through a major downtrend. It has deteriorated shareholders’ wealth by over 65 per cent in the past one year. Moreover, the stock is going through an aggravated sell-off as it hit its fresh 52-week low at Rs 121.95 this week. Moreover, the stock trades below all the key short-term and long-term moving averages. The 14-period weekly RSI has entered the bearish zone. To make the matter worse, the stock has recorded an above-average volume during its recent fall, which indicates no signs of reversal. Considering the above points, it would be a wise decision to avoid the stock and look for better opportunities elsewhere.