Technical Portfolio Guide

BPCL

CMP: Rs366.25 
BSE Code: 500547

I am holding BPCL since long and wanted to average it to recover losses. Is it the right time?
- Prosenjit Roy

AVOID BHARAT PETROLEUM CORPORATION FOR NOW AND ENTER ABOVE RS 429 

BPCL is currently trading at Rs 366.25. Its 52-week high/low stand at Rs 550/Rs 359.60 made on October 30, 2017 and May 24, 2018, respectively. Considering the weekly time frame, the stock hit a kind of a double top at Rs 549-550 levels and tumbled gradually. The stock breached its multiple support at Rs 400 level during April 20, 2018. The stock witnessed a small pullback, but retreated yet again to trade below Rs 400 as of now. The volumes are considerable and the 14-period RSI is showing a downturn. We suggest you to avoid for now and enter on confirmation of Rs 428-429 on a closing basis. 

PETRONET

CMP: Rs 206.40
BSE Code:532522

I am holding Petronet at Rs 214, assuming it to have bottomed. Now what to do?
 - Joseph Alphones 

EXIT PETRONET LNG BELOW RS 202 

Petronet is currently trading at Rs 206.40. Its 52-week high/low stand at Rs 275.45/Rs 198.45 made on November 11, 2017 and August 10 , 2017, respectively. Considering the daily time frame, the stock is trading in a downward sloping channel pattern since its 52-week or all-time high level. The stock had attempted a breakdown at Rs 215 on May 10, 2018. The stock witnessed a pullback of up to 61.8% retracement of the prior downward rally from Rs 245 to Rs 202, followed by correction near the channel line level. The stock may see some more downside with poor volumes and the negative crossover of 14-perod RSI. We suggest you to exit below Rs 202. 

JSW ENERGY

CMP: Rs 64.30
BSE Code:533148

Can I buy shares of JSW Energy at the current levels?
 - Srinivas Muppana 

AVOID JSW ENERGY FOR NOW

JSW Energy is currently trading at Rs 64.30. Its 52-week high/low stand at Rs 97.50/60.55 made on January 12, 2018 and August 23, 2017 respectively. Considering the daily time frame, the stock gave a prolonged upward sloping trendline breakdown at Rs 72.25 on May 9, 2018, followed by a pullback and a retreat yet again to trade below its crucial support level. Meanwhile, the stock also gave a head & shoulders breakdown at the same levels. The volumes are low and the stock has entered the oversold zone. The stock is already trading below its major EMA levels within 21 and 200. We suggest you to avoid for now. 
 
DELTA CORP

CMP: Rs 209.25
BSE Code: 532848

I am holding shares of Delta Corp bought at Rs 268. Are there any chances of this stock recovering?
- Swapan Kayal 

AVOID DELTA CORP FOR NOW, CAN ENTER ABOVE RS 254-255

Delta Corp is currently trading at Rs 209.25. Its 52-week high/low stand at Rs 401.30/Rs 148.80 made on January 23, 2018 and June 27, 2017, respectively. After hitting its 52-week or all-time high level, the stock witnessed a downtrend with lower tops and lower bottoms. The stock had formed a head & shoulders pattern and had given a breakdown at Rs 240 level during May 2018 and it is trading in the range of Rs 240-210 since then. There are chances that the stock may fall further with justifiable volumes and negative crossover of 14-period RSI. Still, in case you wish to average, you can buy above Rs 254-255 levels.

AURO PHARMA

CMP: Rs602.25
BSE Code: 524804 

The pharma space is a good bet for now. Can I enter Auro Pharma at the moment?
- Vijay Deshmukh 

BUY AUROBINDO PHARMA IN THE RANGE OF RS 622-628

Auro Pharma is currently trading at Rs 602.25. Its 52-week high/low stand at Rs 808.95/Rs 527.05 made on November 7, 2017 and June 4, 2018 respectively. The stock is in a downtrend since reaching its 52-week high level. However, after hitting the 52-week low, it bounced back sharply forming a V-pattern on the daily time frame. The stock hit its prior resistance at Rs 613-614 levels and is now consolidating at the same levels since last nine trading sessions. The volumes have been rising and the 14-period RSI is currently quoting at 59 level, suggesting momentum going forward. We suggest you to enter the stock in the range of Rs 622-628 on a closing basis.

HEXAWARE

CMP: Rs 455
BSE Code:532129 

I am holding Hexaware at Rs 450. Shall I hold or book minor profits?
- Mahendra K 

HOLD HEXAWARE TECHNOLOGIES FOR NOW

Hexaware is currently trading at Rs 455. Its 52-week high/low stand at Rs 475.60/Rs 235 made on June 27, 2018 and July 10, 2017, respectively, depicting an uptrend and the stock trading at its 52-week high and alltime high level. Considering the daily time frame, the stock has been trading in an upward sloping channel pattern. After taking main trendline support at Rs 400 on June 6, 2018, the stock surged and broke its multiple resistance at Rs 455-460 on June 26, 2018 and stayed there. The breakout is supported by volume spurt and the 14-period RSI quoting above 60, suggesting an uptrend. Hence, though the stock is trading at its peak, there is still some room left for further upside.