Technical Portfolio Guide
CANFINHOME
CMP: Rs265.80
BSE Code: 511196
I entered Can Fin Homes @ Rs 651.60 for 20 shares. Should I exit with loss or hold?
- A Patnaik
HOLD WITH STOP LOSS OF RS 235 ON A WEEKLY CLOSING BASIS.
Can Fin Homes Ltd is currently trading at Rs.265.80. Its 52-week high/low stand at Rs 557.35/Rs 217 made on March 15, 2018 and October 23, 2018, respectively. The stock formed a reversal Doji at all-time high and thereby marked a series of lower tops and lower bottoms up to the level of Rs 217, where it hit double bottom, and from thereon, the stock has been trading with gradual higher tops and almost similar bottoms. At present, on the daily time frame, the stock has given a breakout of the downward sloping trendline, along with decent volumes. Among the momentum indicators, the 14-period weekly RSI is currently quoting at 45.32 and trading above its 9-week average. The weekly fast stochastic line is trading above its slow stochastic line, which suggests a positive bias. However, the major trend is still negative as the stock is trading below its 100-day EMA and 200-day EMA. We suggest you to hold with stop loss of Rs 235 on a weekly closing basis as the upward sloping trendline is placed there.
MARUTI
CMP: Rs6832.25
BSE Code: 532500
I am holding shares of Maruti in my long term portfolio, I would request you to advise me on the stock.
- Haresh
HOLD WITH STOP LOSS OF RS 5800 ON A WEEKLY CLOSING BASIS.
Maruti Suzuki India Ltd is currently trading at Rs.6832.25. Its 52-week high/low stand at Rs 9922.85/Rs 6324.35 made on July 24, 2018 and January 28, 2019, respectively. The stock formed reversal shooting star pattern near the double top zone on the weekend of July 27, 2018. Thereafter, the stock witnessed correction, which halted near 50 per cent retracement of the prior uptrend which coincides with 200-week EMA. Meanwhile, the medium term trend is still negative, as the stock is trading below its 100-day EMA and 200-day EMA and indicators and oscillators are still tilted southward. However, going ahead, the 200-week EMA, which is currently placed at Rs 6489, and the level of Rs 5796, which is 61.8 per cent retracement level of the prior uptrend, is likely to act as strong support for the stock. Hence, we suggest you to hold for a pullback rally with stop loss of Rs 5800 on a weekly closing basis.
MOIL
CMP: Rs143.90
BSE Code: 533286
Is it fine to enter MOIL at this stage?
- Sumanata Basak
AVOID BUYING MOIL LTD FOR NOW
MOIL Ltd is currently trading at Rs.143.90. Its 52-week high/low stand at Rs 228.65/Rs 140.20 made on March 1, 2018 and February 21, 2019, respectively. The stock had formed a reversal candlestick pattern, i.e. Doji candle on the weekend of November 3, 2017 and since then, it is marking series of lower tops and lower bottoms. At present, the stock is trading below its key moving averages such as 20-day, 50-day, 100-day and 200-day EMA, which indicates a medium-long term downtrend. Additionally, considering the weekly time frame, the stock is trading below Ichimoku cloud and lower band of Bollinger band, which depicts negative momentum. However, the volumes are too poor and the oscillators and indicators on the weekly scale are lying in the oversold zone. The stock may see some more downside below Rs 135-Rs 130 levels. Hence we suggest you to avoid buying at the current levels.
VIPCLOTHNG
CMP: Rs21.75
BSE Code: 532613
I have 1000 shares of VIP Clothing bought at Rs 60.70, What is your long term view?
- Neetu
A. EXIT VIP CLOTHNG BELOW RS 20 ON A WEEKLY CLOSING BASIS.
VIP Clothing Ltd is currently trading at Rs.21.75. Its 52-week high/low stand at Rs 75.20/Rs 19.40 made on April 27, 2018 and February 6, 2019, respectively. The stock witnessed lower tops and slightly similar bottoms after hitting all-time high. Thereafter, it gave a multi-touch point upward sloping trendline breakdown at Rs 50 and, thereafter, the stock witnessed a downfall with low volumes, where the stock hit below its major support of Rs 30 level. The 14-period weekly RSI is currently quoting at 28.20, which suggests that the stock is in the oversold zone. The volumes are too poor. Moreover, the stock is trading below its weekly Bollinger band average of Rs 29 and the upper band is currently placed at Rs 41.80. As the oscillators are lying in oversold zone on the weekly scale, we expect a minor pullback rally and hence we suggest you to hold the stock for some time. However, at the same time, we would advise you to square off your position if the stock slips below Rs 20 on a weekly closing basis.
IPCALAB
CMP: Rs807.20
BSE Code: 524494
I have bought shares of IPCA Laboratories Ltd at Rs 770 for the short term. What should I do--hold or exit?
- Ajay Adikane
HOLD WITH STOP LOSS OF RS 770 ON A CLOSING BASIS.
IPCA Laboratories Ltd is currently trading at Rs.807.20. Its 52-week high/low stand at Rs 828/Rs 590.10 made on February 2, 2019 and October 11, 2018, respectively. The stock formed reversal hammer pattern near the 100-day EMA on the weekend of October 12, 2018 and, thereafter, it bounced sharply up to the 52-week high. At present, the stock is trading above its major moving averages, i.e. 20-day, 50-day, 100-day and 200-day EMAs, which depicts a positive bias. If we analyse the price action of the last trading session on the daily time frame, the stock is seen oscillating in a rectangle pattern, which indicates that the stock is taking a breather before going for a renewed upmove. The 14-period daily RSI is currently quoting at 63.15 and it is in the rising trajectory. The fast stochastic is also trading above its slow stochastic, which depicts bullish bias. In case the stock closes above Rs 830, it would see an upside rally in the near term. Hence, we suggest you to hold the stock with strict stop loss of Rs 770 on a closing basis.
SINTEX
CMP: Rs8.19
BSE Code:502742
I have 500 shares of Sintex bought @ Rs 30. What is your short and long term view?
- Raju Swaminathan
EXIT AT THE CURRENT MARKET PRICE.
Sintex Industries Ltd is currently trading at Rs.8.19. Its 52-week high/low stand at Rs 21.35/ Rs 6.75 made on March 19, 2018 and February 6, 2019, respectively. The stock formed shooting star pattern on the weekend of May 19, 2017, and thereafter, it tumbled sharply along with strong volumes. Considering the weekly time frame, the stock is consistently trading below Ichimoku cloud since May 2017. The stock is trading much below the 100-day and 200-day EMAs. Moreover, the stock is trading below its weekly Bollinger band average of Rs 11. Currently, the volumes support the falling prices and oscillators are inclined southward, which suggests more downside from the current levels. Considering all above factors, we suggest you to exit at the current market price.