Technical Portfolio Guide
J KUMAR INFRAPROJECTS LTD.
CMP: ₹ 291.25
BSE Code:532940
Is JKIL a good short-term trading idea?
- Ashish Mistry
BUY ABOVE RS 307.50
The stock had formed a big shooting star candle on Tuesday at the prior pivot. Also, above average volume was recorded which indicates a larger profit booking. There is a negative divergence in the RSI and MACD. The 20-DMA is placed at Rs 283. It is trading 15 per cent above the 50-DMA. However, the KST and TSI indicators have given a sell signal. It also declined below the TEMA. As it formed a bearish candle at the pivot level, it is better to avoid taking a long position in the stock at this point. The Anchored VWAP, at Rs 267, can be strong support for now. It will be a good long bet if it moves above the pivot level of Rs 307.50.
RELIANCE INDUSTRIES LTD.
CMP: ₹ 2,387.65
BSE Code:500325
Is Reliance a good value-buy?
- Subbarao Veluri
BUY ABOVE 200-DMA
The windfall taxation rule on refinery margins has dampened the sentiment. It declined sharply last Friday. Before that, the 50-DMA acted as a strong resistance. The stock took support at the prior swing and holding for the time being. It is nearly 5 per cent below the long-term average 200-DMA. The MACD has to give sell signals on all timeframes. The weekly RSI declined below the zone of 50 and is at its previous swing low. In any case, a fall below the zone of 41-44 will be negative for the stock. The KST and TSI have been in the bearish setups for the past few days. In short, the prior swing low of Rs 2,370 is a crucial support for now. In any case, if it slips below this level, it would be better not to buy this. For a buy, it has to close above the 200-DMA of Rs 2,510 to find some momentum upwards.
ASAHI INDIA GLASS LTD.
CMP: ₹ 571.60
BSE Code:515030
I have Asahi India at Rs 550 level. Is it the right time to book profit?
- Ashok Bhide
HOLD THE STOCK WITH A STOP-LOSS AT RS 526
The stock is forming a cup pattern for the last 22 weeks with a depth of 38 per cent. The prior pivot is at Rs 613. A relative price strength (RS) with a rating as high as 84 indicates outperformance compared to other stocks. The institution's interest also shows the buyers’ demand for the stock. The institutions have increased their stake in the company. The stock is comfortably placed above its key moving averages i.e. around 18 per cent each from 50-DMA and 200-DMA. The RSI is in the strong bullish zone in all timeframes. The weekly histogram shows a strong bullish momentum. Hold this stock at Rs 526 (the previous week's low) as a stop-loss.
HINDUSTAN UNILEVER LTD
CMP: ₹ 2475.25
BSE Code:500696
Should I buy HUL at the current levels?
- Rajesh Pratap
BUY THE STOCK AT CMP
The FMCG sector stock looks strong in the current market conditions. The stock is trad-ing at the prior swing high. It is also forming higher lows. On the weekly chart, the pattern looks like an inverted head & shoulders pattern. For the last two days, the higher volume shows the buying interest in the stock. The RSI is in a strong bullish zone. Its relative price strength (RS) rating is picking and is currently at 58. The Elder impulse system has formed strong bullish bars. The KST and TSI indicators have given a bullish signal. The 50-DMA support is at Rs 2,250. You can consider buying this stock at CMP with a stop-loss of Rs 2,250.