Technical Portfolio Guide

VIJAYA BANK

CMP: Rs. 50.10
BSE Code: 532401

Looks like Vijaya Bank is recovering after a huge fall, Can I enter at the current price for the long term?
- Anoop Singh

AVOID BUYING VIJAYA BANK FOR NOW

Vijaya Bank Ltd is currently trading at Rs 50.10. Its 52-week high/low stand at Rs 73.85/40.35 made on January 24, 2018 and October 22, 2017, respectively. From May 2017, the stock has been falling consistently accompanied by higher volumes and marking a series of lower lows. After registering its 52-week low, the stock has witnessed a bounce-back along with low volumes, which indicates it is just a pull-back and the downtrend is likely to resume in the coming weeks. On the weekly time frame, the stock is trading below its crucial long term moving average, i.e. 200-week SMA. The 14-period RSI on the weekly time frame made a couple of attempts to cross the 60 mark, however, it failed and slipped lower and presently it is quoting around 47.85, depicting lack of momentum for now. Considering all the above factors, we recommend you to avoid buying Vijaya Bank for now.

BEML

CMP: Rs. 899.65
BSE Code: 500048

Can I buy shares of BEML for the long term?
- Satya Aggarwal 

BUY BETWEEN RS 800-RS 850 WITH STOP LOSS OF RS. 730 ON A CLOSING BASIS.

BEML Ltd is currently trading at Rs 899.65. Its 52-week high/low stand at Rs 1638/521 made on December 29, 2017 and October 26, 2018, respectively. After registering its 52-week low, it bounced sharply from its previous support zone of Rs. 515- Rs 525. Considering the weekly time frame, the stock has recently given a breakout of the downward sloping trendline. The breakout was supported by justifiable volumes. The recent ticks were quite volatile and the stock was up with higher volumes and the 14-period RSI on the weekly time frame quoting around 57.62, which suggests momentum. For any immediate decline in the stock, the zone of Rs 730-715 is likely to act as a strong support as it is the confluence of the 200-day simple moving average. On the upside, the stock is likely to touch Rs 1140 in the coming weeks. Hence, we recommend you to buy BEML between Rs 800- Rs 850 with stop loss of Rs 730 on a closing basis.

CONCOR

CMP: Rs. 667.35
BSE Code: 531344

I wish to buy shares of CONCOR Ltd for the short term. Should I buy at the current price?
- K Kumar Naik

BUY CONCOR ONLY ABOVE RS 680

Container Corporation of India Ltd (CONCOR) is currently trading at Rs 667.35. Its 52-week high/low stand at Rs 750/541.45 made on January 22, 2018 and October 25, 2018, respectively. After registering its 52-week low, the stock surged almost 27 per cent, and thereafter since last seven weeks, the stock is trading in contracting consolidation, which is looks like contracting triangle. The 14-period RSI too is range-bound and it is quoting around 46.20, which suggests lack of momentum going forward. The stock is trading above its crucial long term moving average, i.e. 200-day simple moving average. For any further upside, the stock needs to form a sizeable bullish candle above the consolidation breakout level of Rs 680 along with decent volumes. Hence, we recommend you to buy CONCOR only above Rs 680.

JK CEMENT

CMP: Rs. 724.50
BSE Code: 532644

Can I buy shares of J K CEMENT as it has moved up from its 52-week low?
 - Yash Vyas

AVOID BUYING J K CEMENT FOR NOW.

J.K. Cement Ltd is currently trading at Rs 724.50. Its 52-week high/low stand at Rs 1193.95/650 made on January 22, 2018 and October 29, 2018, respectively. The stock is consistently trading in the lower top, lower bottom pattern since January 2018. After registering its 52-week low, the stock is trading with gradual upward movement since early November along with low volumes, which indicates that it is just a pull-back and the downtrend is likely to resume soon. The 14-period RSI on the daily time frame quoting around 49 suggests lack of momentum going forward. On the daily time frame, the stock is consistently trading below its crucial long-term moving average, i.e. 200-day simple moving average, and it is in a falling mode. Considering all the above factors, we recommend you to avoid buying J.K. Cement for now.

KSCL

CMP: Rs. 579.80
BSE Code: 532899

I am holding KSCL at Rs 550. Please suggest what to do now.
 - Soni Philip

HOLD WITH STOP LOSS OF RS 530 ON A CLOSING BASIS.

Kaveri Seed Company Ltd (KSCL) is currently trading at Rs 579.80. Its 52-week high/low stand at Rs 659.95/433 made on August 31, 2018 and February 06, 2018, respectively. The stock is trading above its 20-day EMA (557.30),50-day EMA (543.60), 100-day EMA (545.80) and 200-day EMA(546), which indicates that the stock is in a medium-long term uptrend. On the daily time frame, the stock has recently given consolidation breakout. The breakout was supported by justifiable volumes. Considering the weekly time frame, the stock has formed sizeable bullish candle after the consolidation breakout, which predicts bulls are taking control. The 14-period RSI on the daily time frame is quoting around 52.88 and it has already given positive crossover. For any immediate decline, the stock's long term crucial moving average, i.e. 200-day EMA is likely to act as support. Hence, We recommend you to hold KSCL with stop loss of Rs 530 on a closing basis.

CUMMINSIND

CMP: Rs. 830.10
BSE Code: 500480

Can I buy Cummins India at the CMP to recover my previous losses?
 - Rampal Singh Saini

BUY CUMMINS INDIA ONLY ABOVE RS 850

Cummins India Ltd is currently trading at Rs 830.10. Its 52-week high/low stand at Rs 993.45/611.75 made on January 4, 2018 and July 17, 2018, respectively. Recently, the stock bounced sharply from its long term upward slopping trendline support, and since last seven weeks, the stock has been consolidating in a range, along with relatively poor volumes. The indicators and oscillators are too poor to suggest any further momentum. Considering the weekly time frame, the stock has a major hurdle of the downward slopping trendline formed by connecting swing highs from early May 2017. For any further upside, the stock needs to form a sizeable bullish candle above the downward slopping trendline resistance level of Rs 850 along with decent volumes. Hence, we recommend you to buy Cummins India only above Rs 850.