Technical Portfolio Guide
CONTROL PRINT LTD.
CMP: ₹443.20
BSE Code:522295
Should I buy the shares of Control Print Ltd at the current levels for swing trading?
- Madhukar Hampiholi
THE SHORT-TERM TARGET IS PLACED AT RS 534
The first rule for swing trading is to select the stocks with rhythm in the price movements and high liquidity. The stock has had erratic behaviour in the past. It is better to stick to the frontline, leading stocks to trade a swing strategy. For now, the stock is forming a triangle near its recent high and is trading above the moving average ribbon. The MACD shows a strong bullish momentum above the zero line. The ADX (14) shows that trend strength is not so great. Currently, it is exactly at the anchored VWAP resistance. The KST and TSI indicators show bullishness. A move above Rs 455 will lead to a bullish symmetrical triangle breakout. The short-term target is placed at Rs 534 while in the medium term, it can test Rs 623. Maintain a stop-loss at Rs 421.
HERO MOTOCORP LTD.
CMP: ₹2,719.65
BSE Code:500182
What is the long-term outlook for Hero MotoCorp?
- Balamurugan Subbiah
ACCUMULATE ABOVE RS 2,873 LEVEL
The auto sector is outperforming the broader market. Many leading stocks are breaking out but the stock of Hero MotoCorp is yet to make a higher high. It is trading near the previous swing high. Its relative price strength is improving. The 50-DMA is about to cross the 200-DMA, which is a golden crossover i.e. a long-term bullish signal. All the indicators are turning bullish now. A move above Rs 2,873 is a new swing high. Accumulate this stock above this level for the longterm. Maintain a stop-loss at the recent swing low.
TATA STEEL LTD
CMP: ₹866.95
BSE Code:500470
Can we expect a strong bounce in the short term in Tata Steel, given its oversold value?
- Adrian Nazareth
WAIT FOR A MOVE ABOVE RS 945 LEVEL
The stock has corrected more than 46 per cent from its high. It also retraced over 50 per cent of the prior uptrend. It is trading below all the key moving averages. The RSI is taking support at the zone of 30 on the weekly chart. For a bullish reversal, the stock has to move above Rs 960, which is the 23.6 retracement level of the current downswing. No indicator is showing a positive divergence. The metal sector has been under pressure in the past few weeks. It is better to avoid this stock for a short-term trade. Wait for a move above 20-DMA (Rs 945). In any case, if it declines below the previous low, it can also test the levels below Rs 700.
MPHASIS LTD.
CMP: ₹2298.45
BSE Code:526299
I had bought the shares of Mphasis at Rs 2,500 levels. Should I hold or exit?
- Rajesh Kumar
EXIT WITH A LOSS
You bought the stock near the recent swing high. It declined 42 per cent from its high. The stock is underperforming compared to the broader market. The ADX (32.59) shows that the downtrend is very strong. Its relative strength is also very poor. Even for retracement, it has to clear the anchored VWAP resistance placed at Rs 2,355. It is trading 8.56 per cent below the 50-DMA. Even the 200-DMA is in a downtrend. It may test sub Rs 2,000 levels in the short term. It is better to exit with a loss.