Technical Portfolio Guide
IGL
CMP: Rs 256.80
BSE Code:532514
I am holding IGL at Rs 271. What should I do now?
- Akshat Sharma
EXIT INDRAPRASTHA GAS BELOW RS 255
IGL is currently trading at Rs 256.80. Its 52-week high/low stand at Rs 344.20/Rs 240.10 made on January 1, 2018 and June 28, 2018, respectively. The stock was trading in a downward sloping channel pattern since mid-November 2017. The stock witnessed a breakout at Rs 274 level on July 19 and thereby surged up to Rs 320, which was beyond its channel pattern target. Thereafter, the stock was seen tumbling with lower tops and lower bottoms and has neared the upper trendline of the pattern. The volatile volumes and the 14-period RSI tilted southwards cue lack of momentum for now. We suggest you to exit below Rs 255.
TATA GLOBAL
CMP: Rs 234.45
BSE Code: 500800
Can I average Tata Global at CMP?
- Hement
ENTER TATA GLOBAL BEVERAGES ON CLOSE ABOVE RS 239
Tata Global is currently trading at Rs 234.45. Its 52-week high/low stand at Rs 328.80/ Rs 192.50 made on January 15, 2018 and September 25, 2017, respectively. The stock has been trading in downward sloping channel pattern since January 2018. After the recent downward sloping line from Rs 284.70 and Rs 228.60, the stock attempted a bounce-back, but resisted at 38.2% retracement of the sloping line. Recently, the stock trailed near its downward line from September 5 for five consecutive trading sessions and bounced back to trade near its downward sloping trendline level, which is within the channel. We suggest you to enter after the stock closes above Rs 239 for small profits
VOLTAS
CMP: Rs 568.20
BSE Code: 500575
I bought Voltas NSE at Rs 602 as the stock saw a bounce-back then. But it has reversed again. What should I do?
- Jayant
EXIT VOLTAS AFTER CLOSE BELOW RS 561
Voltas is currently trading at Rs 568.20. Its 52-week high/low stand at Rs 675/Rs 493.45 made on December 28, 2017 and June 26, 2018 respectively. The stock witnessed a sharp fall from around Rs 665 to Rs 493 level from April 23 to June 26 and, thereafter, it formed a rounding base pattern. However, the stock resisted yet again at Rs 637 level and has corrected up to 50% retracement of the prior upward rally. Hence, in case the stock bounces back, it may hit your level again. Meanwhile, the stock also breached its 50,100 and 200-day EMA levels on the downside, and hence, we suggest you to exit if it closes below Rs 561.
SONATA SOFTWARE
CMP: Rs 411.95
BSE Code:532221
I am holding Sonata Software bought at Rs 392. Shall I wait for more returns?
- Mr. Patil
HOLD SONATA SOFTWARE FOR NOW
Sonata Software is currently trading at Rs 411.95. Its 52-week high/low stand at Rs 428.75/Rs 144.70 made on September 19, 2018 and October 5, 2017, respectively. After hitting its prior all-time high at Rs 386.40 on April 25, the stock corrected to the level of Rs 273, where it hit double bottom and took support of 200-day EMA. On bouncing back, the stock formed a kind of rounding base pattern and gave a breakout at Rs 370 on September 14. Thereafter, the stock is seen rising, making record highs on a daily basis. The stock formed a Doji on September 19 and, hence, it may see some correction before another rally. However, we suggest you to hold for now.
ALKEM LABORATORIES
CMP: Rs 2100
BSE Code: 539523
I had purchased Alkem Laboratories at Rs 2130 level, but the stock turned around. Should I exit?
- Ashwani Yadav
HOLD ALKEM LABORATORIES WITH A STOP LOSS OF RS 1975
Alkem is currently trading at Rs 2100. Its 52-week high/low stand at Rs 2468/Rs 1742 made on January 10, 2018 and April 17, 2018, respectively. The stock fell sharply during this period and bounced back gradually up to Rs 2265, near its prior resistance level at Rs 2272. The stock fell yet again up to the 50% retracement of the prior upward move, took support at 200-day EMA level and bounced back forming a hammer-like pattern on September 19. Poor volumes and oscillators below 50 suggest lack of momentum, for now. However, considering a prospective reversal, we suggest you to hold with a stop loss of Rs 1975.
DHAMPUR SUGAR
CMP: Rs 146.70
BSE Code:500119
I had bought Dhampur to average my holdings at Rs 142 recently. Will the stock go up or should I exit all positions?
- Nirmal Patel
HOLD DHAMPUR SUGAR MILLS WITH A STOP LOSS OF RS 130
Dhampur Sugar Mills is currently trading at Rs 146.70. Its 52-week high/low stand at Rs 330.85/Rs 72 made on November 1, 2017 and July 23, 2018, respectively, showing a downtrend. The stock has been trading with lower tops and lower bottoms since its 52-week or all-time high levels, where it had hit a shooting star pattern. Thereafter, the stock gave a breakdown of the upward sloping trendline at Rs 304 on December 1 and tumbled up to the 52-week low level. The stock bounced back with shorter body candles and gave a downward sloping trendline breakout at Rs 95.15 on September 12. Thereafter, the stock gave a sharp upmove up to Rs 151.40, where it also gave 200-day EMA crossover for the first time after December 21. Meanwhile, the stock saw volume spurt. We suggest you to hold for some more upside.