Technical Portfolio Guide
REPCO HOME
CMP: Rs 623.15
BSE Code:535322
I had bought Repco Home Finance at a sudden breakout at Rs 630, but the stock fell on the next day itself and is still below my buying price. What should I do?
- Chandra Das
HOLD REPO HOME FINANCE WITH A STOP LOSS OF RS 568
Repco Home Finance is currently trading at Rs 623.15. Its 52-week high/low stand at Rs 792.40/Rs 515 made on July 25, 2017 and February 22, 2018, respectively. Considering the daily time frame the stock has formed a kind of descending triangle pattern and gave a breakout on July 23. After hitting 52-week low, the stock attempted to breach its major resistance at Rs 615-622 levels but could not sustain and fell to Rs 527 level. Now the stock has also broken out of its rounding bottom breakout at Rs 615-619 levels with bounce-back in volumes and the 14-perod RSI quoting at 67. The stock is trading above its 50,100 and 200-day EMAs. We suggest you to hold.
BAJAJ AUTO
CMP: Rs 2619.25
BSE Code:532977
Can I buy shares of Bajaj Auto as it has fallen a lot?
- Anand
BUY BAJAJ AUTO AT CLOSE ABOVE RS 2760
Bajaj Auto is currently trading at Rs 2619.25. Its 52-week high/low stand at Rs 3472.60/Rs 2616 made on February 2, 2018 and July 24, 2018, respectively, portraying a sudden fall in the stock. Considering the daily time frame, after hitting a double bottom at Rs 2705 level, the stock gave a straight upside rally near to Rs 3180 level, which is its multiple resistance zone. Recently, the stock gave a sharp plunge of more than 15%. Thereafter, the stock has been trading in a range and it recently broke down below Rs 2705 level. In case the stock bounces back above Rs 2760 on a closing basis, we may see another upside rally.
HFCL
CMP: Rs 25.20
BSE Code:500183
I am holding HFCL bought at Rs 27. What is your take on it?
- Rathindra Nath
EXIT HIMACHAL FUTURISTIC COMMUNICATIONS AT CLOSE BELOW RS 24.25
HFCL is currently trading at Rs 25.20. Its 52-week high/low stand at Rs 36.65/14.45made on January 11, 2018 and August 10, 2017 respectively. Considering the daily time frame, the stock resisted near its multiple resistance at Rs 35.50 and plunged with one lower top and lower bottom. The stock hit near its crucial support at Rs 24.25-24.55 levels. The downfall was supported by good volumes and the 14-period RSI reversing from the overbought zone. Now, the stock is trailing at lower levels, and in case it hits below Rs 24.55-24.25, we may see some more downside up to Rs 23.35-22.95 levels in the first place. We suggest you to exit below Rs 24.25 on a closing basis.
HERITAGE FOODS
CMP: Rs 608.25
BSE Code:519552
Can I buy Heritage Foods at the CMP to recover my prior losses?
- Sucharit Roy
AVOID HERITAGE FOODS FOR NOW, ENTER AT CLOSE ABOVE RS 612
JHeritage Foods is currently trading at Rs 608.25. Its 52-week high/low stand at Rs 885.10/Rs 525 made on December 21, 2017 and August 11, 2017, respectively. Considering the daily time frame, the stock breached its multiple support at Rs 650 on June 25 and thereby witnessed consolidation to correction hitting Rs 542 level. The stock hit a kind of double bottom at Rs 542 and has bounced a bit. However, the stock has a tendency of a sudden upside or downside after consolidation. The stock may witness a pullback on the upside, but would retreat yet again. We suggest you to avoid for now and enter above Rs 612.
DMART
CMP: Rs 1558.60
BSE Code: 540376
I am holding shares of Dmart bought at Rs 1530 level. What should I do?
- Deshmane
HOLD AVENUE SUPERMARTS WITH A STOP LOSS OF RS 1515
Dmart is currently trading at Rs 1558.60. Its 52-week high/low stand at Rs 1622.05/Rs 861 made on June 13, 2018 and August 11, 2017, respectively, portraying an uptrend. After the stock hit its 52-week high, it tumbled gradually but continuously up to Rs 1420 level, i.e. near to its 100-day EMA level. The stock bounced back up to Rs 1605 and corrected yet again up to 50% retracement of the prior upward rally from Rs 1420 to Rs 1605 and bounced back. The said level also acted as its 50-day EMA level. Hence, we can expect northward move to continue and the stock has a trendline breakout at Rs 1595 which may act as resistance.
PFC
CMP: Rs 80.60
BSE Code:532810
Can I enter PFC to recover my losses in the same stock?
-Kapil Maewaha
AVERAGE POWER FINANCE CORPORATION ABOVE RS 78.15
PFC is currently trading at Rs 80.60. Its 52-week high/low stand at Rs 149.30/Rs 67.60 made on October 27, 2017 and July 17, 2018 respectively, portraying a downtrend. The stock has recently hit its 52-week low level. The stock consolidated near those levels for four trading sessions and bounced back in two consecutive sessions. Meanwhile, the stock also breached its two resistances at Rs 76.70 and Rs 78 in those two sessions. The bounce-back was supported by volume spurts and the 14-period RSI crossing 55 levels suggesting some more upside. The stock has also hit above its 50-day EMA level. Hence, we suggest you to average.