Technical Portfolio Guide

ASTEC LIFESCIENCES LTD

CMP: Rs. 511
BSE Code: 533138

Can I buy shares of Astec Lifesciences at the current levels?
 - Prabhakar Upadhyaya

AVOID BUYING ASTEC FOR NOW, BUY ONLY ABOVE RS 560 ON A CLOSING BASIS.

Astec Lifesciences Ltd. is currently trading at Rs.511. Its 52-week high/low stand at Rs 782.50/Rs 468.45 made on June 12, 2018 and February 5, 2019, respectively. After the fall from the all-time high to 52-week low, the stock has witnessed gradual rise up to its multiple resistance zone of Rs 555-Rs 560. The stock could not breach the zone and formed reversal Doji candle as on weekend of April 5, 2019 and gave confirmation next week. 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 43.88 and it has recently given negative crossover. The weekly fast stochastic is also trading below its slow stochastic line. For any further upside, the stock needs to form a sizeable bullish candle above the downward sloping trendline resistance, which is currently placed in the zone of Rs 555-Rs 560. Hence, we suggest you to avoid buying Astec for now and buy only above Rs 560 on a closing basis, if the RSI and volume support.

NETWORK18 MEDIA & INVESTMENT LTD

CMP: Rs. 35
BSE Code: 532798

I am holding Network18 Media & Investment Ltd bought at Rs 40. What is your take on it?
- Dilip Girdhar

EXIT AT CURRENT MARKET PRICE

Network18 Media & Investment Ltd is currently trading at Rs 35. Its 52-week high/low stand at Rs 60.50/Rs 31 made on April 18, 2018 and February 19, 2019, respectively. The stock had witnessed triple top and formed reversal bearish engulfing candle as on weekend of January 19, 2018, and thereafter, it had 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 poor volumes and oscillators lying below 50 depict lack of momentum in the stock. Further, on weekly scale, the fast stochastic is also trading below its slow stochastic line. Additionally, the Ichimoku chart on the weekly time frame is also clearly giving negative view as the stock is trading much below its cloud. Hence, we suggest you to exit on any short term bounce or at the current market price.

MPHASIS LTD

CMP: Rs. 1010.40
BSE Code: 526299

Can I buy shares of Mphasis at CMP for the long term?
- Murali Mohan

BUY MPHASIS LTD ONLY ABOVE RS 1020 ON A CLOSING BASIS.

Mphasis Ltd. is currently trading at Rs 1010.40. Its 52-week high/low stand at Rs 1278/Rs 855 made on September 3, 2018 and January 17, 2019, respectively. After registering all-time high, the stock witnessed correction. The correction was halted near 100-week EMA and it coincides with 50 per cent retracement of its prior uptrend. At present, the stock is hovering around the downward sloping trendline resistance formed by connecting swing highs from the high of September 2018. 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. 50-week EMA, 100-week EMA and 200-week EMA. The weekly RSI and stochastic has recently given positive crossover, which suggests positive bias. Additionally, the weekly MACD stays bullish as it is trading above the zero line since last 14 weeks. In case the stock sustains above the trendline resistance, which is currently placed at Rs 1020, we may see another upside rally. Hence, we suggest you to buy Mphasis only above Rs 1020 on a closing basis.

EVEREADY INDUSTRIES INDIA LTD

CMP: Rs. 185.05
BSE Code: 531508

Can I buy Eveready Industries at the CMP to recover my previous losses?
- Harjeet Ghuman

AVOID BUYING EVEREADY FOR NOW.

Eveready Industries India Ltd. is currently trading at Rs 185.05. Its 52-week high/low stand at Rs 394.45/Rs 175.50 made on April 12, 2018 and October 31, 2018 respectively. The stock gave a breakdown of the upward sloping trendline at Rs 360 on April 20, 2018 and tumbled up to the 52-week low level. The indicators and oscillators are lying below 50, which depicts lack of momentum in the stock. Further, the stock is trading much below its short and long term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. Considering the weekly scale, the Average Direction Index (ADX) is currently quoting at 11.14 and it is consistently falling from the month of January 2019, which suggests lack of momentum. Moreover, on the weekly scale, the stock is trading below its Bollinger band average and Ichimoku cloud. Considering all the above factors, we suggest you to avoid buying Eveready for now.