Technical Portfolio Guide
ULTRATECH CEMENT LTD.
CMP: ₹5481.80
BSE Code 532538
What is the good buying level of UltraTech Cement for the long term? - Subhas Pramanik
WAIT FOR THE BASE FORMATION AT RS 4,957 LEVEL
The stock is trading at a new 52-week low and has broken the prior low. Tuesday's Dragonfly Doji at the bottom failed to get the confirmation for bullish reversal and formed another bear ish candle. Currently, it is trading below all the key short as well as long-term moving averages. The RSI is below 35 and is in a strong bearish zone. The MACD is bearish in all the timeframes. The 40-weekly moving average is in a downtrend. For now, the stock is in a clear downtrend and retraced more than 50 per cent of the prior uptrend. It may test the 61.8 retracement level i.e. Rs 4,957 in the near future. Wait for base formation at the above level to buy the stock for the long-term.
OIL AND NATURAL GAS CORPORATION LTD.
CMP: ₹165.60
BSE Code:500312
What is the short-term outlook for ONGC? - Sudhakar M V
GOOD BUYING OPPORTUNITIES ABOVE RS 169
After declining 27 per cent, the stock is trying to come out of a downward channel. It closed at the prior minor swing high resistance. As it formed a Doji candle at this resistance, they may experience some profit booking. The Doji candle is just above the 50-DMA. The technical indicators show some bullish strength. The RSI is above the prior highs and looks bullish. As it closed above the zone of 50, the trend may continue. The MACD is also above the signal line but below the zero line. The stock will gain bullish momentum if it moves above the zero line. The directional indicators are expanding from an influx point. The +DMI is above the -DMI and ADX. It looks good on short-term charts but it needs to sustain above the 50-DMA and Doji candle for a bullish confirmation. Above Rs 169, we may get some good buying opportunities with a stop-loss of 20-DMA (154.7).
TIME TECHNOPLAST LTD.
CMP: ₹115.70
BSE Code: 532856
I bought the shares of Time Technoplast at Rs 95. Should I book profit? - Francis M R
HOLD THE STOCK WITH A TRAILING STOP-LOSS
After breaking out of a 41-week consolidation, the stock oscillated around the breakoutlevel for the past seven weeks. Currently, it is trading above the high of the seven-week range. For the last two weeks, the volume has been increasing, showing the buying interest. The relative price strength (RS) rating is as high as 80 and shows good outperformance as compared to the broader market. Even the technical oscillators show bullish strength in the current trend. The weekly ADX (45.79) shows solid trend strength. The RSI is in a strong bullish zone in all the timeframes. As you are already in the profit, it is better to protect the profits and capital. Maintain a trailing stop-loss as per your risk appetite, and hold.
BOROSIL RENEWABLES LTD.
CMP: ₹648.60
BSE Code:502219
What is your long-term view on Borosil Renewables? - Chandrashekhar Trivedi
TECHNICALLY, THE STOCK IS NOT CONVINCING
The stock price history shows erratic behaviour. For the last 24 weeks, it has been trading at a higher level and is in consolidation. It declined below the 10-week average and sustained above the 40-week average. The relative price strength (RS) is looking bullish but the volume is declining. However, the weekly RSI and MACD are declining. It needs to have a gut to hold this stock as it tests patience. Only high-risk appetite people can take a call on this. Technically, the stock is not convincing, and there are several better stocks than this.