Technical Portfolio Guide

TV18 BROADCAST

CMP: Rs.56.10 BSE Code: 532800

I have bought shares of TV18 Broadcast at Rs 58 in mid-May but the stock dropped thereafter and has now recovered. What to do? 
- Nishant Namdev

HOLD TV18 BROADCAST WITH A STOP LOSS OF RS 55

TV18 Broadcast is currently trading at Rs 56.10. Its 52-week high/low stand at Rs 70.90/Rs 34.50 made on April 4, 2018 and August 11, 2017, respectively. The stock recently dropped to Rs 49-50 levels, which acted as a triple bottom and, thereby, the stock surged consistently hitting above the Rs 58 level. The stock, thereafter, witnessed consolidation to correction of up to 38.2% retracement of the prior upward consistent rally. Meanwhile, the stock has formed a kind of flag pattern. In case the stock sustains above Rs 58 on a closing basis, it would also form a small inverse head & shoulders pattern with which it may surge up to Rs 63-66 levels. We suggest a hold for now.

MERCATOR

CMP: Rs.24.60 BSE Code: 526235

I am holding Mercator bought at Rs 26.25 for short term. What should I do now? 
- Naveen Bijjal

HOLD MERCATOR FOR NOW

Mercator is currently trading at Rs 24.60 Its 52-week high/low stand at Rs 49/Rs 21.10 made on November 1, 2017 and May 21 , 2018, respectively, which shows a downtrend in the stock. The stock has been trading with lower tops and lower bottoms since long. Recently, however, it has formed a symmetric triangle pattern on the daily time frame. The stock attempted a breakout, though not on a closing basis on June 20 with rising volumes and positive crossover of the 14-period RSI. The stock also hit above its 21-day EMA level recently. Hence, we suggest you to hold, for now.

BHARAT FINANCIAL INCLUSION

CMP: Rs.1174 BSE Code: 533228

Is it right to enter Bharat Financial at such a peak level? 
- Kumar T

ENTER BHARAT FINANCIAL INCLUSION AT CMP OR ABOVE RS 1200 ON CLOSING BASIS

Bharat Financial is currently trading at Rs 1174. Its 52-week high/low stand at Rs 1197.80/694.60 made on June 15, 2018 and June 27, 2017, respectively, which depicts an uptrend in the stock. The stock is seen trading in an upward channel since mid-April. Recently, the stock hit the upward channel line thrice on June 12, 15 and 18 and corrected thereafter for a day. The correction was up to 50% retracement level of the prior upward wave within the channel. The stock has bounced back on June 20. One can enter at the current level or the risk-averse can enter above Rs 1200 on a closing basis.

HERO MOTOCORP

CMP: Rs.3632 BSE Code: 500182

Can I Buy Hero Motocorp at current Levels? 
- Ravi Kumar HK

AVOID HERO MOTOCORP FOR NOW, CAN ENTER ABOVE RS 3732

Hero Motocorp is currently trading at Rs 3632. Its 52-week high/low stand at Rs 4200/Rs 3353.75 made on August 23, 2017 and March 23, 2017, respectively. After hitting 52-week or all-time high, the stock witnessed lower tops, lower bottoms up to Rs 3410. Since then, the stock is trading in a rectangular pattern with Rs 3820- 3870 as the upper line and Rs 3410-3350 as the lower line. Currently, the stock is consolidating in-between with poor volumes and oscillators quoting below 55, suggesting lack of momentum for now. The stock is trading above its Bollinger Band average price of Rs 3626.5 but the upper band is quoting at Rs 3731.5. However, we suggest you to avoid for now.

OFSS

CMP: Rs.4062 BSE Code: 532466

I am holding OFSS bought at Rs 3905. What to do now? 
- Shashi Bhushan Giri

BOOK PROFITS IN ORACLE FINANCIAL SERVICES SOFTWARE

OFSS is currently trading at Rs 4062. Its 52-week high/low stand at Rs 4400/Rs 3300 made on April 20, 2018 and August 18, 2017, respectively. The stock broke its previous 52-week high level of Rs 4376 and hit Rs 4400, but it could not sustain on a closing basis, and hence, tumbled sharply up to Rs 3720-3700, which is its multiple support level. Thereafter, the stock surged for nine consecutive days. Now the stock is trailing near 38.2% retracement of the 9-day rally. The oscillators have given negative crossover, and hence, we suggest you to book profits. The stock has a tendency to give sharp upside or downside.

EROS INTERNATIONAL MEDIA

CMP: Rs.132 BSE Code: 533261

Can I enter Eros International Media at the current levels? 
- Praveen Gupta

AVOID EROS INTERNATIONAL MEDIA FOR NOW

Eros International Media is currently trading at Rs 132. Its 52-week high/low stand at Rs259.85/Rs 118.50 made on January 12, 2018 and May 22, 2018, respectively, showing sudden downside after January. After hitting 52-week low, the stock bounced back in between 50 and 61.8% retracement levels and retreated again up to Rs 125.60 on June 6. Thereafter, the stock is trading in consolidation mode. The volumes are reasonable but the oscillators quoting below 50 suggest lack of momentum for now. The stock may see some more downside if it hits Rs 132-131 level on a closing basis, which is its upward sloping trendline breakdown level. Hence, we suggest you to avoid for now.