Technical Portfolio Guide
GABRIEL
CMP: Rs.142 BSE Code: 505714
Can I buy shares of Gabriel at CMP?
- Dipak Prajapati
AVOID GABRIEL FOR NOW, ENTER ABOVE RS 150
Gabriel is currently trading at Rs 142. Its 52-week high/low stand at Rs 222.70/Rs128.70 made on September 11, 2017 and March 26, 2018, respectively. Considering the daily time frame, the stock hit a shooting star at 52-week or all-time high level and, thereby, tumbled up to the 52-week low level. The stock bounced back and hit Rs 168.20, just below its previous major resistance at Rs 170. Thereby, the stock was seen making lower tops, depicting downward sloping trendline. The stock attempted a breakout at Rs 150 on August 6, but hit a Doji on the next trading day and thereby slipped for 5 consecutive days. On August 16, the stock opened with a gap-down as open and low were same and so the stock surged up to the trendline again. However, the volumes and oscillators suggest lack of momentum. We suggest you to avoid for now and enter above Rs 150.
MUSIC BROADCAST
CMP: Rs.328.60 BSE Code: 540366
I am holding Music Broadcast and wish to average to cover-up my losses. What to do?
- Mohammed
BUY MUSIC BROADCAST ABOVE RS 331 ON CLOSING BASIS
Music Broadcast is currently trading at Rs 328.60. Its 52-week high/low stand at Rs 458/Rs 282.30 made on January 09, 2018 and July 18, 2018, respectively showing a consistent downbeat since the start of 2018. Considering the daily time frame, after hitting its 52-week low, the stock has formed a kind of an extending V pattern where it attempted a breakout of 327 followed by 330. However, the stock could not sustain above 330 on daily basis even after ¾ attempts and is trading in consolidation near those levels. Volumes are volatile but 14-period RSI gave a positive crossover above 60 levels. We suggest to enter above Rs 331 on closing basis.
STC INDIA
CMP: Rs.133.55 BSE Code: 512531
I am holding shares of STC India bought at Rs 142. What should I do now?
- Deepak Kar
HOLD AND EXIT STATE TRADING CORPORATION OF INDIA BELOW RS 130
STC India is currently trading at Rs 133.55. Its 52-week high/low stand at Rs 299/124.25 made on November 7, 2017 and June 6, 2018, respectively. After a sharp move from near Rs 170 to Rs 299, the stock washed of all gains with equally sharp correction. Thereafter, the stock is seen trading with lower tops and somewhat similar bottoms. Considering the weekly time frame, the stock has formed a kind of head & shoulders pattern with neckline near Rs 140 level. The stock is consolidating near the neckline. The stock will weaken further below Rs 130 level. The volumes are reasonable with the 14-period RSI titled southward. Hence, we suggest you to exit below Rs 130
GEPIL
CMP: Rs.781.50 BSE Code: 532309
I bought GE Power at Rs 830. What should I do now?
- N Rajen Ganesh
HOLD GE POWER INDIA WITH A STOP LOSS OF RS 730
GE Power is currently trading at Rs 781.50. Its 52-week high/low stand at Rs 1048/Rs 622.35 made on January 22, 2018 and September 26, 2017, respectively. After hitting 52-week high, the stock gave a sharp downward move up to Rs 781 level. Thereafter, the stock was seen making lower tops forming a downward sloping trendline and multiple supports in the range of Rs 798-800. The stock breached its support on June 28 and hit Rs 731 where the stock formed a double bottom. The stock has bounced back with reasonable volumes and RSI positive crossover. We suggest you to hold up to Rs 730 on the downside.
AJANTA PHARMA
CMP: Rs.1188.35 BSE Code: 532331
I have purchased Ajanta Pharma at Rs 1266. What should be my next action?
- Jayesh Jain
HOLD AJANTA PHARMA FOR NOW
Ajanta Pharma is currently trading at Rs 1188.35. Its 52-week high/low stand at Rs 1592/Rs 897.60 made on January 22, 2018 and June 5, 2018 respectively. Considering the weekly time frame, the stock has formed a prolonged head & shoulders pattern formed since May 2015. It also gave a breakdown in May 11 week, near Rs 1100 level and hit 52-week low. However, the stock has bounced back in the form of a pullback and is hovering between 38.2% and 50% retracement levels of the downward rally from Rs 1592 to 52-week low. However, considering the daily time frame, the stock has broken out of a kind of rounding bottom and, thereby, we can see some more upside. We suggest you to hold.
DISH TV
CMP: Rs.68.60 BSE Code: 532839
Can I enter Dish TV at the moment?
- Ashish Gokhale
AVOID DISH TV FOR NOW
Dish TV is currently trading at Rs 68.60. Its 52-week high/low stand at Rs 87/Rs 63.60 made on January 2, 2018 and March 6, 2018, respectively. The stock hit double top at Rs 110.95 during March 27-28, 2017 and traded downwards, making lower tops and lower bottoms, thereby making a downward channel pattern. Currently, the stock is trading southward within the channel and the stock may give some more downside below Rs 64.90-64.60. Moreover, the volumes are rising with falling prices and the stock is trading below its major 50-day, 100-day and 200-day EMA levels. We suggest you to avoid for now.
Disclaimer: 1) Some of the companies covered in this section do not have good volumes on the bourses. Technical analysis works much better in cases where volumes on the stock are high. Investors please take note of the same. 2) Recommendations in this section are purely based on Technical Analysis. FNIW may or may not look at the Fundamental Strength of the recommended stocks.