Technical Portfolio Guide

EXCEL CROP CARE LTD

CMP: Rs. 3740.80
BSE Code: 532511

I am holding shares of Excel Corp Care Ltd bought at the breakout at Rs 3400 for the short term, The stock is up, so should I sell or wait?
- Manohar Khatavkar

HOLD WITH STOP LOSS OF RS 3550 ON A CLOSING BASIS.

Excel Corp Care Ltd. is currently trading at Rs 3740.80. Its 52-week high/low stand at Rs 4800/Rs 2850 made on August 2, 2018 and May 28, 2018, respectively. The stock had formed a reversal shooting star candle on the daily scale at 52-week high and, thereafter, it witnessed correction. The correction is arrested near the double bottom zone of Rs 2950-Rs 3000. The stock had formed bullish reversal piercing line pattern on February 21, 2019, and bounced sharply and gave a downward sloping trendline breakout at Rs 3325 on March 5, 2019. The stock is trading above its weekly pivot and above its crucial long and short term moving averages, i.e. 20-day EMA, 50-day EMA, 100-day EMA and 200-day EMA. The daily 14-period RSI is quoting at 60.57 with a positive crossover on April 1, 2019, which depicts positive momentum. Moreover, the fast stochastic is also trading above its slow stochastic line. In case the stock sustains above the horizontal trendline resistance, which is currently placed at Rs 3800, we may see the stock extending its upmove. Hence, we suggest you to hold Excel Crop with stop loss of Rs 3550 on a closing basis. 

AMARA RAJA BATTERIES LTD.

CMP: Rs. 675.70
 BSE Code: 500008

I had bought Amara Raja Batteries at Rs 745, but it fell sharply and I could not exit. What to do now?
- Mahesh Alatgi

EXIT AMARA RAJA BATTERIES AT CURRENT MARKET PRICE.

Amara Raja Batteries Ltd. is currently trading at Rs.675.70. Its 52-week high/low stand at Rs 907.75/Rs 650 made on August 21, 2018 and April 3, 2019, respectively. The stock had formed spinning top candle as on weekend of August 28, 2015 and, thereafter, it marked a series of gradual lower tops and lower bottoms. At present, the stock is trading below its weekly pivot and below its crucial long and short term moving averages. The 14-period weekly RSI is currently quoting at 35.46 and it is trading below its 9-day average. The weekly MACD stays negative as it is trading below its zero line since last two weeks. Additionally, the Ichimoku on the weekly time frame is clearly giving a negative view as it closed below the KS and TS lines. Currently, the stock has given breakdown of crucial support of Rs 680 with strong volumes, which suggests more downside from the current levels. Hence, we suggest you to exit in Amar Raja Batteries at the current market price. 

GVK POWER & INFRA LTD.

CMP: Rs. 7.40
BSE Code:532708

I want to buy GVK Power & Infrastructure as it has fallen a lot. Is it the right time to enter for the long term?
 - Amit Roy Chowdhury

AVOID BUYING GVK POWER FOR NOW 

GVK Power & Infrastructure Ltd. is currently trading at Rs 7.40. Its 52-week high/low stand at Rs 17.50/Rs 5.05 made on April 9, 2018 and February 18, 2019, respectively. The stock had formed reversal dark cloud cover pattern as on weekend of January 19, 2018 and, thereafter, it marked a sequence of lower tops and lower bottoms. The major trend of the stock is negative as it is trading below its weekly pivot as well as all the short and long term moving averages. The volumes are very low and oscillators are lying below 50 and are tilted southwards, which point to some more downside for now. On the weekly scale, the fast stochastic is also trading below its slow stochastic line. Additionally, the Ichimoku chart on weekly time frame is also clearly giving negative view as the stock is trading much below its cloud. Hence, we suggest you to avoid buying GVK Power for now. 

TORRENT POWER LTD

CMP: Rs. 261.70
BSE Code: 532779

Can I buy Torrent Power at the moment for the short term?
- Raman Taneja

BUY TORRENT POWER ONLY ABOVE RS 270 ON A CLOSING BASIS.

Torrent Power Ltd. is currently trading at Rs.261.70. Its 52-week high/low stand at Rs 276.60/Rs 212.10 made on December 3, 2018 and October 1, 2018 respectively. The stock had formed reversal bearish engulfing candle as on weekend of January 25, 2018, and thereafter, it witnessed correction. The correction was halted near the upward sloping trendline support and it coincides with 200-week EMA. The major trend of the stock is positive as it is trading above its weekly pivot and above its crucial long and short term moving averages, i.e. 20-day EMA, 50-day EMA, 100-day EMA and 200-day EMA. However, at present, the stock is hovering around the key resistance level defined by the downward sloping trendline resistance. For any further upside, the stock needs to form sizeable bullish candle above the downward sloping trendline resistance, which is currently placed at Rs 270. Hence, we suggest you to buy Torrent Power only above Rs 270 on a closing basis, if the RSI and volumes support.