Technical Portfolio Guide
HDFC ASSET MANAGEMENT COMPANY LTD
CMP: ₹2,180.40
BSE Code : 541729
Should I buy the shares of HDFC AMC at the current levels for the medium-term?
- Syed Nayeemullah
CONSIDER TAKING POSITION ABOVE RS 2,350
The stock was under a strong downtrend in recent weeks and has fallen over 30 per cent since September. However, it has found good support at the level of Rs 2,000 and recovered about 10 per cent since its recent low. The technical indicators show improved strength in the stock but are far away to point out a bullish conclusion. The stock still trades below its 20-week MA and is down by over 21 per cent from its 200-DMA. The level of Rs 2,350 happens to be strong resistance for the stock as that is its prior swing high from where the stock witnessed a fall of about 15 per cent. Moreover, the 20-week MA is placed near this level. Thus, you can consider taking a position in this stock once its crosses above the mentioned level with above-average volumes. This will indicate strong buying interest in the stock and would be bullish for the medium term.
IRCON INTERNATIONAL LTD
CMP: ₹41.45
BSE Code:541956
I have held the stock of IRCON since Rs 44. What should I do? - Nalin Kurani
HOLD THE STOCK WITH A STOP-LOSS OF RS 40.75
The level of Rs 44 was a strong support level, from which, it took support multiple times. However, the stock breached the level a few days back and witnessed a strong downtrend. It has recovered from its recent low of Rs 39. Moreover, it has given a breakout from its double bottom pattern, which is a bullish sign. Also, technical indicators show improved strength in the stock. However, the stock hasn’t shown any strong uptrend after the breakout. The 20-DMA of the stock lies at the Rs 40.75 level, and the stock can show weakness if it breaches the level. Thus, we request you to hold the stock with a stop-loss of Rs 40.75.
TORRENT PHARMACEUTICALS LTD
CMP: ₹2,830.45
BSE Code:500420
I have shares of Torrent Pharma bought at Rs 2,650. Should I book profit? - Sourabh Mittal
HOLD THE STOCK WITH A STOP-LOSS OF RS 2,780
The level of Rs 2,650 happens to be a strong buying level for the stock. The stock gained upside momentum and you are already sitting with a decent profit. Moreover, the MACD line is above the zero line and signal line, indicating good strength in the stock. On the technical chart, the stock witnessed strong resistances at higher levels and selling pressure has been spotted. However, the stock still trades above the 20-DMA, which is a positive sign. The stock can see weakness if it closes below 20-DMA with huge volumes. Thus, you can consider holding the stock with a stop-loss of Rs 2,780, which happens to be its 20-DMA level.
DELTA CORP LTD
CMP: ₹312.80
BSE Code:532848
At what level should I enter Delta Corp? - Primecare Natural
CONSIDER ENTERING ABOVE RS 319
Delta Corp is currently extremely bullish and has gained over 20 per cent since its recent swing low. The stock has broken out from its falling trendline a few days ago and is trending strong. The 14-period daily RSI is in the bullish territory while the MACD indicates a positive trend of the stock. After hitting a fresh 52-week high of Rs 319.50, the stock has seen some selling pressure at higher levels. You can consider entering it above the level of Rs 319, from which, the stock can see further upmove.