Technical Portfolio Guide
TATA GLOBAL BEVERAGES
CMP: Rs 219
BSE Code: 500800
I wish to buy shares of Tata Global Beverages. Should I buy at the current price?
- Akshay Khanna
BUY AT CURRENT MARKET PRICE WITH STOP LOSS OF RS 192 ON A CLOSING BASIS
Tata Global Beverages is currently trading at Rs 219. Its 52-week high/low stand at Rs 328.80/Rs 205.75 made on January 15, 2018 and October 31, 2018 respectively. In recent times, the stock has been consolidating in a tight range near its support zone with relatively low volumes. The stock has two important support zones, one placed in the region of Rs 193-197 which is 200-week EMA that stands at Rs 193 and the second one is 61.8 per cent retracement support of entire upmove starting from December 27, 2016 to its all-time high. All indicators and oscillators are also consolidating in a tight range on both weekly and daily time frames. The 14-period RSI on the weekly scale has recently given positive crossover. Considering all above factors, the stock is currently trading above its crucial support zone of Rs 193-197, we recommend you to buy at the current market price with stop loss of Rs 192 on a closing basis.
EQUITAS
CMP: Rs 106.55
BSE Code 539844
Can I buy Equitas Holding for four months at current price?
- Yogesh Kumar
AVOID EQUITAS HOLDING
Equitas Holding Limited is currently trading at Rs 106.55. Its 52-week high/low stand at Rs 173.40/Rs 78 made on May 18, 2018 and October 26, 2018 respectively. After registering 52-week low, the stock gave a sharp bounce and almost filled the opening downside gap which was created on October 26, 2018 and faced resistance there. The stock is trading in a narrow consolidation range since last four weeks. Considering the daily scale, the stock is consistently trading below its 200-day EMA since mid-September 2018. The 14-period RSI on the weekly time frame is presently quoting around 38.12 and it has been observed that since the last week of May,2018, it has not able to cross the level of 60. Considering the weekly time frame, the MACD is also in the negative as it is trading below its signal line. On the daily time frame, Rs 120-Rs 121 is the gap resistance which was created on October 26, 2018. Hence, we recommend you to avoid buying at current market price.
JUSTDIAL
CMP: Rs 497.10
BSE Code: 535648
I bought 200 shares of Just Dial at Rs 505 and after my purchase, the stock is trading in a range and hovering around my purchase price. So what should I do now?
- Sanjay Khemka
HOLD WITH THE STOP LOSS OF RS 460 ON A CLOSING BASIS
Just Dial Limited is currently trading at Rs 497.10. Its 52-week high/low stand at Rs 648/Rs 358.30 made on January 16, 2018 and May 3, 2018, respectively. The stock registered a low of Rs 318 in the last week of December 2016 and, thereafter, the stock has been trading in a range of Rs 318-638. This kind of rangebound movement always gives best opportunity’s to buy near the low and sell at high level, until it gives breakout on any either side. Considering the daily time frame, the stock has recently given gap-up opening on October 30, 2018 and this gap (Rs 461-467) will act as short term support. The stock is trading above the important short term 21-day EMA. Considering the weekly scale, the 14-period RSI is quoting around 47.32 and it has already given positive crossover, which suggests upside momentum. Therefore, we suggest you to hold with a stop loss of Rs 460 on a closing basis for the expected target of Rs 590, followed by Rs 638 in the medium to long run.
TATA CHEMICALS
CMP: Rs 699.10
BSE Code:500770
I had bought stocks of Tata Chemicals at Rs 640 level. What should I do? Can I book profit or continue holding this stock?
- Kaustubh Kambale
BOOK PROFIT AT CMP
Tata Chemicals Limited is currently trading at Rs 699.10. Its 52-week high/low stand at Rs 786.95/Rs 623.50 made on May 4, 2018 and October 9, 2018, respectively. After hitting it 52-week low, the stock bounced around 15 per cent. The pullback rally, which began from the lower levels, faced resistance near 61.8 per cent Fibonacci retracement level of the downmove started on September 3, 2018 to its 52-week low. The 14-period RSI on the daily time frame has not been able to cross the 60-mark since the second half of September 2018 and, recently, it has witnessed a negative crossover, which indicates pause in the uptrend. The pullback was seen with relatively thin volumes. Hence, we would suggest you to book profit at the current market price.
NATIONAL ALUMINIUM
CMP: Rs 66.80
BSE Code: 532234
What’s your technical opinion on National Aluminium for the long term, Can I enter at the current price?
- Ravichandran K
BUY ABOVE RS 78 ON A CLOSING BASIS
National Aluminium Co is currently trading at Rs 66.80. Its 52-week high/low stand at Rs 90.10/Rs 56.55 made on April 19, 2018 and July 16, 2018 respectively. In the current year, the stock is trading in a contracting range, which looks like a contracting triangle on the weekly scale. The stock had witnessed correction from its downward sloping trendline resistance zone on the weekly scale. Considering the daily time frame, the stock is currently trading below the long term 200-day EMA. The MACD was in the negative territory. The stock has two important hurdles to cross for long term upside. One is the downward slopping trendline resistance and the other is the 200-day EMA. Above these hurdles, new uptrend will begin, Hence, we suggest you to buy only above Rs 78 on a closing basis.
FIRTSOURCE SOLUTIONS
CMP: Rs 52.05
BSE Code: 532809
I bought FirstSource Solutions at Rs 53 for the long term. The stock witnessed a downfall and at present the stock is near my acquisition price. What should I do now?
- Mathew
HOLD FIRSTSOURCE SOLUTIONS WITH STOP LOSS OF RS 45 ON A WEEKLY CLOSING BASIS.
Firstsource Solutions is currently trading at Rs 52.05. Its 52-week high/low stand at Rs 83.85/Rs 36 made on June 13, 2018 and February 6, 2018, respectively. The stock, after registering high in the month of June 2018, entered into correction mode and made a series of lower highs, lower lows. This correction phase halted at the upward sloping trendline joined by connecting crucial lows from December 2011 and in the close vicinity of its 200-week EMA. The 14-period RSI on the daily chart is quoting around 40 and it has recently given positive crossover with relatively high volumes. The stochastic has also given positive crossover near its oversold zone, suggesting a short term pause in downfall. Therefore, we suggest you to hold with the long term support at Rs 45 on a weekly closing basis.