Technical Portfolio Guide
ZOMATO LTD
CMP: ₹45.65
BSE Code: 543320
Should I consider buying Zomato after it has fallen so much? - Daniel Madagundi
AVOID THE STOCK FOR NOW
The stock declined 76 per cent from its all-time high and is trading much below its IPO price. I bought Exide Industries at Rs 144. Should I book profit? - Kalyanaraman N.p HOLD THE STOCK WITH YOUR BUYING PRICE AS STOP-LOSS Are Mid-Cap IT stocks like Mphasis and Persistent Systems good for the long term at this point? - Andez George BUY THESE STOCKS ABOVE THE PREVIOUS WEEK’S HIGH I am holding Reliance Industries at Rs 2,530 levels. What should I do? - Madhusudhana Rao HOLD THE STOCK FOR THE LONG TERM Currently, the stock is trading at a new low and does not have any price strength. At the same time, the new-age company's business model is not giving any fundamental value. It has a poor EPS strength. As the lock-in period is over, the big investors are exiting the stock. That is why the stock plummeted for a few days. If the stock falls to a new low, let it form a base and wait for a solid consolidation breakout. It is trading at a new low because of many fundamental reasons. Let the fundamentals also improve. For now, consider other better relative strength stocks to invest in.
EXIDE INDUSTRIES LTD.
CMP: ₹155.90
BSE Code :500086
I bought Exide Industries at Rs 144. Should I book profit? - Kalyanaraman N.p
HOLD THE STOCK WITH YOUR BUYING PRICE AS STOP-LOSS
The stock, which is above the prior minor swing high, is trading above the key moving averages. The weekly MACD gave a bullish signal last week and the momentum is sustaining. The weekly RSI entered the bullish zone. On the daily chart, the stock has broken out of a 14-day tight consolidation with a massive volume, which shows the buyer's interest. It is trading above the key moving averages. It closed above the Anchored VWAP. The Elder impulse system has formed a strong bullish candle. It has a stronger relative strength too. Hold the stock with your buying price as a stop-loss.
PERSISTENT SYSTEMS LTD
CMP: ₹3516.30
BSE Code: 533179
Are mid-cap IT stocks like Mphasis and Persistent Systems good for the long term at this point? - Andez George
BUY THESE STOCKS ABOVE THE PREVIOUS WEEK’S HIGH
The IT sector has been an underperformer in recent past. However, for the last few weeks, the sector is showing an improvement in relative momentum and strength. Nifty IT index along with its constituents are forming the bases. For the time being, the downside is limited for the sector and the coming days are crucial. Many IT companies benefited from rupee depreciation and improved margins. Currently, it is better to accumulate the stocks in a small tranche. Mphasis and Persistent Systems are also in base formation. Buy these stocks above the previous week's high or base breakout.
RELIANCE INDUSTRIES LTD.
CMP: ₹2457.25
BSE Code: 500325
I am holding Reliance Industries at Rs 2,530 levels. What should I do? - Madhusudhana Rao
HOLD THE STOCK FOR THE LONG TERM
Hold the stock for the long term. There are a lot of value-unlocking processes in progress. The stock has been consolidating for the last four weeks. With the recent fall, the relative strength is not so good. The fall in volume suggests that some distribution has occurred. The zone of Rs 2,180-Rs 2,365 will act as strong support. Try to accumulate the stock in this zone. If you are a short-term trader, keep the stop-loss as per your risk appetite. A move above Rs 2,540 will result in a base breakout and it can test the previous high of Rs 2,817. Stay positive as a long-term investor