Technical Portfolio Guide
INDUSIND BANK LTD.
CMP: Rs972.60
BSE Code:532187
I wish to make a fresh entry into IndusInd Bank for the long term. What is the right price to enter?
- Babu Pallisseri
CONSIDER ENTERING ABOVE RS 1,000
Since its 52-week high of Rs 1,242, the stock has slipped over 30 per cent before recovering a little. Currently, the stock is trading below its major resistance level of Rs 990, which also happens to be its prior swing high. Moreover, the price struc- ture of the stock does not indicate bullishness. The volumes are decent while the technical parameters suggest neutrality in the stock. The stock trades below its 200-DMA, which is widely regarded as the long-term indicator. It is placed near Rs 1,000, and any rise above this level shall indicate bullishness in the stock. Thus, you can consider entering the stock above its 200-DMA at Rs 1,000, where you can expect a decent upmove in the stock.
ABAN OFFSHORE LTD.
CMP: Rs55.95
BSE Code:523204
I am holding the shares of Aban Offshore at Rs 46. Should I book profit?
- Shravan Talwar
HOLD THE STOCK WITH A STOP-LOSS OF RS 53
The stock is trading well above your buying price, which means that you are already sitting with decent profits. It is cur- rently trading above all the key moving short-term as well as long-term moving averages. Also, it has recorded above-average volumes recently, indicating a strong trading activity. The stock possesses strong bullish momentum and has gained about 22 per cent since its recent swing low in just five trading sessions. Thus, you can consider holding it but maintain a stop- loss at Rs 53. The level of Rs 53 has acted as strong support earlier and thus, any fall below this level can be met with a further downside.
PFIZER LTD.
CMP: Rs4,471.70
BSE Code:500680
I am holding Pfizer shares at an average of Rs 4,850. What should I do as the stock price has slumped?
- Pawan Kumar
EXIT THE STOCK AT CMP
The stock is currently under a major downtrend and has fallen over 11 per cent on a YTD basis thereby, underperforming the broader market as well as its peers. Despite jumping off from the lows of Rs 4,200 and gaining about 6 per cent, its outlook is largely bearish. The 14-period daily RSI is indicating a sideways action. The volumes have also fallen lately while the trading activity has reduced. Moreover, the price structure doesn’t indicate signs of bullishness, whatsoever. Thus, you can consider exiting the stock at CMP and look for better opportunities elsewhere.
ORACLE FINANCIAL SERVICES SOFTWARE LTD.
CMP: Rs3,711.20
BSE Code:532466
What is the short-term outlook for OFSS?
- Mahabir Jain
THE STOCK WILL BE BULLISH ABOVE RS 3,830 LEVEL
The stock was undergoing a major downtrend and has fallen nearly 35 per cent since its all-time high level before bouncing back slightly. However, strong buying is seen at lower levels and the stock has jumped about 10 per cent since its recent swing low while the volumes have also built up. Moreover, it trades above all the key short-term moving averages. The key resistance for the stock lies at Rs 3,830 level, which is its prior swing high as well as the 100-DMA level. A rise in this level can get the stock back on track and may witness a strong uptrend from thereon. Thus, the stock will turn bullish above the mentioned level.