Technical Portfolio Guide
AUROBINDO PHARMA LTD.
CMP: Rs. 777.50
BSE Code: 524804
I have bought 300 share of Aurobindo Pharma at Rs 662. Should I continue to hold?
- Manoj Sandhir
HOLD WITH STOP LOSS OF RS 755 ON A CLOSING BASIS.
Aurobindo Pharma Ltd. is currently trading at Rs.777.50. Its 52-week high/low stand at Rs 830/Rs 527.05 made on December 4, 2018 and June 4, 2018 respectively. On the daily scale, the stock had formed reversal Doji candle near 52-week low and surged upto the level of Rs 816.80. Thereafter, the stock is trading in a broader range of Rs 816-Rs 700 since last six months. At present, the stock is trading above the weekly pivot and above the short and long term moving averages. The 14-period RSI is quoting at 59.88, which depicts positive momentum in the near term. Additionally, the daily MACD stays bullish as it is trading above the signal line. Moreover, the stock is trading above Ichimoku cloud, which is positive for the stock. Considering all the above factors, we recommend you to hold Aurobindo Pharma with stop loss of Rs 755 on a closing basis.
PHILLIPS CARBON BLACK LTD.
CMP: Rs. 175.70
BSE Code:506590
Recently, I bought Phillips Carbon Black @ Rs 250 with a horizon of 6-8 months for a target price of Rs 330. Can I add more quantity on dips?
- Ashok Shah
AVOID AVERAGING IN PHILLIPS CARBON FOR NOW
Phillips Carbon Black Ltd. is currently trading at Rs 175.70. Its 52-week high/low stand at Rs 287/Rs 135.55 made on August 9, 2018 and February 14, 2019 respectively. After registering its all-time high, the stock entered into the corrective phase. The correction was arrested at 61.8 per cent retracement of its prior upward move and it is coincides with the 200-week EMA. The stock is trading below its crucial long and short term moving averages, i.e. 20-week EMA, 50-week EMA and 100-week EMA. At present, the stock is hovering around the key resistance level as defined by the downward sloping trendline. The volumes are very low and oscillators on the weekly scale are lying below 50, which depicts lack of momentum for now. The weekly MACD stays negative as it is trading below its signal line. Additionally, considering the daily time frame, the stock is trading below Ichimoku cloud, which depicts negative momentum. Hence, we suggest you to avoid averaging in Phillips Carbon Black, for now.
GODAWARI POWER & ISPAT LTD
CMP: Rs. 248.55
BSE Code: 532734
I am thinking of entering Godawari Power for long term investment. Let me know what I should do?
- Prasenjit Das
AVOID BUYING GODAWARI POWER FOR NOW
Godawari Power & Ispat Ltd (GPIL) is currently trading at Rs.248.55. Its 52-week high/ low stand at Rs 591/Rs 192 made on April 16, 2018 and January 24, 2019, respectively. Considering the weekly time scale, the stock has corrected making lower tops and lower bottoms after hitting its all-time high. At present, the stock is trading below all of its crucial long and short term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200- week EMA. However, lower volumes and oscillators are still tilted southward, which point to some more downside for now. Considering the weekly time frame, the fast stochastic is also trading below its slow stochastic. The trend strength indicator ADX on the weekly scale is quoting at 43.70. The directional parameter -DI is much above the +DI. Additionally, on the weekly scale, the stock is trading below Ichimoku cloud and Bollinger band average, which depicts negative momentum. Hence, we suggest to avoid buying GPIL for now.
SATIN CREDITCARE NETWORK LTD
CMP: Rs. 359
BSE Code: 539404
What are the prospects of Satin Creditcare? I have bought the shares @Rs 399 for the long term. Please let me know.
- Arun Kumar
HOLD WITH STOP LOSS OF RS 295 ON A CLOSING BASIS.
Satin Creditcare Network Ltd. is currently trading at Rs.359. Its 52-week high/low stand at Rs 439.90/Rs 183 made on May 17, 2018 and November 16, 2018, respectively. The stock has been trading with gradual lower tops and lower bottoms since January 19, 2018, where it had formed a reversal 'hanging man' pattern on the week- ly scale. At present, the stock is trading above its 20-week EMA (274.15), 50-week EMA (295.60) and 100-week EMA (324.75), which indicates a short-long term uptrend. The 14-period RSI on the weekly chart is in the rising trajectory, which suggests bullish bias. The weekly MACD stays positive as it is trading above its signal line. Moreover, the daily ADX and +DI is above the -DI, which indicates positive strength in the stock. In case the stock sustains above the downward sloping trendline resistance which is currently placed at Rs 380, we may see the stock extending its upmove. Hence, we suggest you to hold Satin Credicare with stop loss of Rs 295 on a closing basis.
PRAKASH INDUSTRIES LTD
CMP: Rs. 91.30
BSE Code: 506022
Can I enter Prakash Industries Ltd at the current levels for the long term (2 years)?
- Subbarao K
AVOID BUYING PRAKASH INDUSTRIES LTD FOR NOW.
Prakash Industries Ltd. is currently trading at Rs.91.30. Its 52-week high/low stand at Rs 232.40/Rs 67 made on April 30, 2018 and January 2, 2019 respectively. After registering its all-time high, the stock has been trading with lower tops and lower bottoms. Since last three months, the stock has been trading in the range of Rs 80-Rs 100. The poor volumes and oscillators lying below 50 depicts lack of momentum in the stock. Further, the stock is trading below its important moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. Considering the weekly scale, the fast stochastic is also trading below its slow stochastic line. Additionally, on the weekly timeframe, the stock is trading much below the Ichimoku cloud, which suggests negative bias. The stock has major support placed around levels of Rs 80-Rs 75, and once this level is breached, the stock may witness correction up to the level of Rs 65. Considering all the above factors, we recommend you to avoid buying Prakash Industries Ltd for now.
JINDAL STEEL & POWER LTD.
CMP: Rs. 164.45
BSE Code: 532286
I am holding Jindal Steel bought at Rs 140. What to do now?
- Velayutham Somu
BOOK PROFIT IN JINDAL STEEL AT THE CURRENT MARKET PRICE.
Jindal Steel & Power Ltd. is currently trading at Rs.164.45. Its 52-week high/low stand at Rs 265/Rs 123.30 made on April 17, 2018 and February 6, 2019, respectively. The stock had formed bearish engulfing candle as on weekend of February 2, 2018, and thereafter, it marked a series of lower tops and lower bottoms and marked a low of Rs 123.25 in February 2019. Recently, on the daily timeframe, the stock had given breakout of falling wedge pattern at Rs 142 along with strong volumes and surged up to the level of Rs 173.70. Considering the daily time frame, there has been a negative divergence between the 14-period RSI, stochastic and the stock price movement, which sug- gests limited upside. Moreover, according to the MACD analysis on the daily timeframe, there is centreline bearish crossover. Considering all the above factors, we recommend you to book profit in Jindal Steel at the current market price.