Technical Portfolio Guide

MOTILAL OSWAL FINANCIAL SERVICE

CMP: Rs. 838.70 BSE Code: 532892

Can I enter Motilal Oswal at the current price to recover my earlier losses?
- Nirmal V

AVOID MOTILAL OSWAL FINANCIAL SERVICES FOR NOW

Motilal Oswal is currently trading at Rs 838.70. Its 52-week high/low stand at Rs 1585/ Rs 735.30 made on January 1, 2018 and June 28, 2018, respectively, suggesting a steep slope since the start of 2018.Considering the weekly time frame, the stock had hit double top at Rs 1585 level during Jan 5 and Jan 12 weeks and,thereby, witnessed a sharp fall up to Rs 735 level, where it took 200-period EMA support and attempted a bounce back. Recently, the stock witnessed consolidation at the lower levels for almost eight weeks and has resistance at 23.6% retracement of the prior downward rally from Rs 1585 to Rs 735. On the daily time frame, the stock bounced and breached its first resistance at Rs 895 level, but retreated to trade lower. Further, the stock is trading below its 50-day, 100-day and 200-day EMA levels and the rising volumes and oscillators support the retreat. We suggest you to avoid for now as the stock looks better above Rs 947.

PARSVNATH DEVELOPERS

CMP: Rs. 12.35 BSE Code: 532780

Can I average Parsvnath Developers at CMP?
- Trivedi

AVOID PARSVNATH DEVELOPERS AND ENTER ABOVE RS 14.10

Parsvnath Developers is currently trading at Rs 12.35. Its 52-week high/low stand at Rs33.90/Rs 10.11 made on December 12, 2017 and July 20, 2018, respectively. Considering the weekly time frame, thestock is seen trading in a downward sloping channel pattern since March 2013 and also witnessed a breakout on September 2017 at Rs 22.70 and thereby surged up to Rs 33.90 and then retreated making a low of Rs 10.11, where it entered the pattern yet again. Considering the daily time frame, the stock has formed a rounding bottom pattern, but with very short real bodies amid poor volumes. However, the oscillators quoting above 55 suggest some momentum. Hence, we suggest you to avoid and enter above Rs 13.80 or Rs 14.10 levels. 

KAJARIA CERAMICS 

CMP: Rs. 484.75 BSE Code: 500233

I had bought shares of Kajaria Ceramics at Rs 470 considering it to be a breakout, but the stock reversed. What to do now?
- S. Mazumdar 

HOLD KAJARIA CERAMICS WITH A STOP LOSS OF RS 405

Kajaria Ceramics is currently trading at Rs 484.75. Its 52-week high/low stand at Rs 768/405 made on September 21, 2017 and August 16, 2018 respectively. The stock failed to break out of the symmetric triangle pattern initiated at its all-time high of Rs 787.55 level on May 10, 2017. Rather, the stock gave a breakdown at Rs 680-690 level on January 30, 2018, along with 200-day EMA support and, thereafter, traded with lower tops and lower bottoms till its 52-week low. It hit a Doji and gave a big bullish candle on August 21, with volume spurt and the 14-period RSI positive crossover bouncing back from oversold zone. We suggest you to Hold for now and exit at Rs 405 

NTPC

CMP: Rs. 164.50 BSE Code: 532555

Can I buy shares of NTPC at the current levels?
- Avula 

BUY NTPC AT THE CURRENT LEVELS

NTPC is currently trading at Rs 164.50. Its 52-week high/low stand at Rs 187.95/Rs 149.45 made on October 27, 2017 and June 28, 2018 respectively. Considering the daily time frame, the stock gave a breakdown of an upward sloping channel pattern at Rs 169 on February 1, 2018. The stock gave a pullback up to Rs 180.The stock then reversed to trade with lower tops and lower bottoms up to Rs 149-150 levels, where it hit double bottom and bounced back. Meanwhile, it also formed a range of Rs 149 to Rs 160 and has breached the range on the upside recently. The reasonable volumes and the 14-period RSI quoting near 60 suggest momentum. We suggest you to enter the stock at the current levels. 

MASTEK

CMP: Rs. 532 BSE Code: 523704

Can I buy Mastek shares for my short-term portfolio?
- Chaturvedi

ENTER MASTEK ABOVE RS 563

Mastek is currently trading at Rs 532.00. Its 52-week high/low stand at Rs 619.30/Rs 269.50 made on April 23, 2018 and August 22, 2017, respectively. Considering the daily time frame, the stock is seen rallying since August 2017 up to the 52-week high. Thereafter, the stock corrected up to 38.2% retracement of this upside rally and hasformed a rounding base, which has a breakout at Rs 563 level. For now, the stock has taken multiple supports near its 50-dayand 100-day EMA levels. The pick-up in volumes and bounce back in the 14-period RSI above 55 may give some upside momentum. We suggest you to enter only above Rs 563

TRENT

CMP: Rs. 367.70 BSE Code: 500251

I am holding shares of Trent bought at Rs 365 level. What should be my next action?
- Mr. Hiren

HOLD TRENT FOR NOW

Trent is currently trading at Rs 367.70. Its 52-week high/low stand at Rs 377.60/Rs 267.10 made on July 12, 2018 and August 21, 2017, respectively. Considering the daily time frame, the stock gave a horizontal trendline breakout at Rs 350 level on April 6, 2018 and hit Rs 376.55, its prior all-time high. The stock corrected making a falling wedge kind of a pattern, followed by a pattern breakout at Rs 316 on July 9 and made a new all-time high of Rs 377.60, though not on a closing basis. The stock corrected up to Rs 320 and has gradually bounced back to Rs 375 amid low volumes. However, we do not see any bearish reversal for now, and suggest you to hold.