Technical Portfolio Guide
JAGSONPAL PHARMACEUTICALS LTD.
CMP: Rs344
BSE Code:507789
I am holding the shares of Jagsonpal Pharmaceuticals bought at Rs 300. What are its target levels?
- Monica Dsouza
HOLD THE STOCK WITH A STOP-LOSS OF RS 340
Technically, the stock has broken out of a 13-week cup pattern with an above-average volume. However, it closed below the breakout level and is forming a shooting star candle, which is not a good sign. It was followed by a bearish candle on Thursday. Only sustaining above Rs 369 will be positive for the stock. As it is trading near to the new lifetime high, it is above all the key moving averages and has no strong bearish signals at this juncture. There are no divergences visible now. The momentum indicators also do not show much weaknesses. The Elder impulse system has formed strong bullish bars. It is also above the Anchored VWAP resistance. The TSI and KST indicators have given bullish signals. Its relative price strength is positive, which shows outperformance compared to the broader market. Hold your position by maintaining a stop-loss at Rs 340.
HCL TECHNOLOGIES LTD.
CMP: Rs903.70
BSE Code:532281
What is the outlook for HCL Technologies post its earnings?
- Amit Kumar
LET THE STOCK FORM A BASE BEFORE CONSIDERING A LONG POSITION
The stock is in a clear downtrend. It declined over 35 per cent from its recent top. The stock broke the double top pattern in April and since then, it has been falling continuously. No indicator shows a positive bias. The daily MACD has given a fresh sell signal below the zero line. The RSI is at a strong bearish zone on the weekly as well as the daily timeframes. The fall with heavy volumes at the bottom shows that a further fall is possible. The disappointing earnings have led to selling pressure. The stock may retrace after some time but it is only a short covering. Better avoid this stock for fresh purchases. Let the stock form a Stage-1 base to consider this for a buying opportunity.
LIFE INSURANCE CORPORATION OF INDIA
CMP: Rs712.15
BSE Code:543526
I am holding the shares of LIC since its listing. What is the future of the stock?
- Solly K
WAIT FOR THE Quarterly Results BEFORE TAKING A DECISION
As a newly-listed stock, the history to analyse technically is very less. However, since its listing, the stock has corrected 29 per cent and formed a base for the last 16 sessions. For a high market capitalisation stock, the volumes recorded are very low, which means that the investors are not showing any interest in the stock. Fundamentally, it is about to declare its first-quarter results since its listing. Let us wait for the fundamentals to come out. Technically, not a stock to consider right now.
ADANI ENTERPRISES LTD.
CMP: Rs2385.95
BSE Code:512599
Should I enter ADANIENT at current levels?
- Sabas Solutions
A MOVE ABOVE RS 2,389 IS POSITIVE
The stock has been consolidating for the last 11 weeks near its lifetime high. It is trading just 3 per cent to the prior pivot. The stock is trading around 8 per cent above the 50-DMA and 27 per cent above the 200-DMA. For the past three trading sessions, it is forming bearish candles, which indicates that some retracement is on the cards. The volume recorded is also low. The Elder impulse system has formed a neutral bar. It closed on the TEMA indicator. Though there are no strong bearish signals available, it is better for a consolidation breakout with a volume. A move only above Rs 2,389 is positive while above Rs 2,421, the breakout will turn into a reality. It is better to wait for these levels to consider fresh buying.