Technical Portfolio Guide

CMP: Rs.333 BSE Code: 532922

NBFCs look promising at the moment. So, can I enter Edelweiss now? 
- Manoj Patil

ENTER EDELWEISS FINANCIAL SERVICES AT CMP

Edelweiss is currently trading at Rs 333. Its 52-week high/low stand at Rs 342/Rs 177.50 made on May 29, 2018 and June 6, 2017, respectively. Considering the monthly time frame, the stock corrected from January to March and took support at 38.2% retracement of the prior upward rally from January 2017. The stock bounced back in April and May hitting all-time high. It is in a consolidation phase in the current month. Considering the daily time frame, the stock had given a multiple point trendline breakout at Rs 294 on May 14, surged up to its all-time or 52-week high, followed by a sharp fall for 5 consecutive sessions up to the trendline level, i.e. for a pullback. On June 6, the stock has bounced back significantly with good volumes and the 14-period RSI at 57 suggesting momentum.

CMP: Rs.687.30 BSE Code: 540719

I am holding SBI Life bought at Rs 700. Are there any chances of the stock going up?
- Yogesh Kumar

EXIT SBI LIFE INSURANCE BELOW RS 660

SBI Life is currently trading at Rs 687.30. Its 52-week high/low stand at Rs 774.75/Rs 628.50 made on April 27, 2018 and November 8 , 2017, respectively, portraying a sharp fall after 52-week/all-time high. The stock has a multiple support zone at Rs 646-660 levels. After hitting all-time or 52-week high at Rs 774.75, the stock formed a reversal Doji and witnessed a sharp fall of 16.4% up tol the support zone mentioned above. The stock attempted a bounce back, but retreated from 38.2% retracement of the sharp downside rally, creating a head & shoulders pattern. Currently, the stock is trading below its major EMA levels. The stock has bounced back from its major support zone and hence can see some upside. Hence, we suggest you to exit only below Rs 660, which is also a head & shoulders breakdown level.

CMP: Rs.606.70 BSE Code: 532523

I have purchased shares of Biocon at 620 but it has fallen a lot now. What to do now? 
- John Ravi

HOLD BIOCON WITH A STOP LOSS OF BELOW RS 575

Biocon is currently trading at Rs 606.70. Its 52-week high/low stand at Rs 695/305 made on June 5, 2018 and July 10, 2017 respectively which suggests an uptrend. Considering the daily time frame, the stock has been trading in a kind of upward channel since mid-January 2018. On June 5, the stock witnessed huge volatility and formed an engulfing pattern with a huge red candle, covering the entire move from April 2. Meanwhile, the stock also witnessed RSI negative crossover with huge volumes supporting downside. However, the stock took a support at the lower trendline of the channel pattern which is also its 100-day EMA support level. We suggest you to hold for a bounce.

CMP: Rs.1227.15 BSE Code: 532478

Can I enter UBL at the current levels? 
- Leelakumarrr philander

BUY UNITED BREWERIES AT CMP.

UBL is currently trading at Rs 1227.15. Its 52-week high/low stand at Rs 1268.90/Rs 774.55 made on May 25, 2018 and June 27, 2017, respectively. The stock has a multiple resistance at Rs 1190-1195 levels. It has formed a rounding base from February 2 up to May 2, hitting the resistance level. Thereafter, the stock witnessed a correction of up to 38.2% retracement of the upward rally followed by a bounce-back above the resistance level. Now, the stock is trailing at the same levels. The volumes are justifiable and the 14-period RSI has given a positive crossover at 62 level,suggesting upside momentum. We suggest a Buy.

CMP: Rs.549.10 BSE Code: 505537

I had bought ZEEL at Rs 570 considering a bounce-back, but it turned again. What to do now? 
- Mukesh Kumar

EXIT ZEE ENTERTAINMENT ENTERPRISES BELOW RS 530

ZEEL is currently trading at Rs 549.10. Its 52-week high/low stand at Rs 619.35/Rs 477.25 made on January 17, 2018 and October 18, 2017, respectively. Considering the weekly time frame, the stock had given a downward sloping trendline breakout at Rs 550 in November 24 week. The stock kind of hit double top around Rs 619 level and tumbled up to the trendline level. In the current week, the stock has formed a Doji pattern as of now, which may give a reversal in the coming sessions. Considering the daily time frame, the stock gave a multiple support breakdown at Rs 546 and has witnessed a pull-back on June 6. The volumes and oscillators do not suggest any momentum for now.

CMP: Rs.573.75 BSE Code: 532938

I am holding CAPF bought at Rs 615. It is going down continuously. What should be my next action? 
- Vijaybhai

EXIT CAPITAL FIRST BELOW RS 525

CAPF is currently trading at Rs 573.75. Its 52-week high/low stand at Rs 902/Rs 527.40 made on January 15, 2018 and June 5, 2018 respectively, suggesting a sharp downside move in 2018. Considering the weekly time frame, the stock was trading in a kind of upward channel. The stock had attempted a breakout at Rs 850, but it could not sustain on a weekly closing basis. The stock corrected and gave a channel breakdown at Rs 688 in February 16 week and has been falling since then. Now the stock is trailing at its 200-period moving average and hit a reversal hammer-like pattern, which would be confirmed next week. Hence, we suggest you to hold up to Rs 525 or Rs 510 levels.