Technical Portfolio Guide
RAMCO SYSTEMS LTD
CMP: Rs. 232.15
BSE Code: 532370
I am holding Ramco Systems Ltd bought at Rs 275 in March, expecting it to bounce back, but it fell more. What should I do?
- Reeta Hingrajia
EXIT RAMCO SYSTEMS AT CURRENT MARKET PRICE
Ramco Systems Ltd. is currently trading at Rs.232.15. Its 52-week high/low stand at Rs 520.85/Rs 200 made on April 25, 2018 and February 11, 2019, respectively. The stock has been trading with lower tops and lower bottoms since its all-time high level, where it had formed a reversal spinning top pattern. The major trend of the stock is negative as it is trading below its weekly pivot and above its crucial long and short term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200- week EMA. The poor volumes and 14-period weekly RSI quoting at the 35.86 level depict lack of momentum, for now. The fast stochastic is also trading below its slow stochastic. The daily Average Direction Index (ADX) is currently quoting at 6.43, which suggests lack of momentum. 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 current market price.
LAURUS LABS LTD
CMP: Rs. 395.50
BSE Code: 540222
Laurus Labs looks promising for now. Can I enter the scrip now?
- Gaurav Srivastava
BUY LAURUS LABS ONLY ABOVE RS 415 ON A CLOSING BASIS.
Laurus Labs Ltd. is currently trading at Rs 395.50. Its 52-week high/low stand at Rs 517/ Rs 324 made on April 30, 2018 and February 18, 2019, respectively. After registering its all-time low, the stock has witnessed a bounce along with strong volumes and since last four weeks, the stock is hovering around the key resistance level defined by downward sloping trendline, which coincides with 50-week EMA. At present, the stock is trading above its weekly pivot and above its short term moving averages. The 14-period weekly RSI is currently quoting at 53.96 and it is trading above its 9-week average. The weekly MACD stays positive as it is trading above its zero line since last six weeks. Moreover, the ADX and +DI is above the -DI, which indicates positive strength in the stock. In case the stock sustains above the trendline resistance, which is currently placed at Rs 415, we may see another upside rally. Hence, we suggest you to buy Laurus Labs Ltd only above Rs 415 on a closing basis.
SPML INFRA LTD
CMP: Rs. 29.40
BSE Code: 500402
I want to buy SPML Infra Ltd as it has fallen a lot. Is it the right time to enter for the long term?
- Shailendra M Sharma
AVOID BUYING SPML INFRA FOR NOW.
SPML Infra Ltd. is currently trading at Rs.29.40. Its 52-week high/low stand at Rs 124/Rs 27 made on May 11, 2018 and March 1, 2019, respectively. The stock had formed reversal dark cloud cover pattern as on weekend of July 28, 2017, 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 the weekly scale, the fast stochastic is also trading below its slow stochastic line. Additionally, considering the weekly time frame, the stock is trading below Ichimoku cloud and Bollinger band average, which depicts negative momentum. Hence, we suggest you to avoid buying SPML Infra Ltd at the current price.
ATUL LTD
CMP: Rs. 3544.95
BSE Code: 500027
Can I buy shares of Atul Ltd at the current levels?
- J A Jothi
BUY ATUL LTD ONLY ABOVE RS 3660 ON A CLOSING BASIS.
Atul Ltd. is currently trading at Rs.3544.95. Its 52-week high/low stand at Rs 3642.85/ Rs 2600 made on April 3, 2019 and July 2, 2018, respectively. The stock is trading in a rising channel since February 2017, and as on weekend of March 29, 2019, the stock has witnessed triple top pattern and, thereafter, it witnessed a minor correction. Considering the weekly time frame, the major trend of the stock is positive as it is trading above all the short and long term moving averages and these moving averages are exactly in ascending order, which suggests that the trend is strong. The 14-period RSI is currently quoting at 59.71 and it has recently given positive crossover. The fast stochastic is also trading above its slow stochastic, which suggests bullish bias. The trend strength is extremely high as the ADX is above 40 and -DI is much below the +DI and ADX. In case the stock sustains above the horizontal trendline resistance, which is currently placed at Rs 3660, we may see another upside rally. Hence, we suggest you to buy Atul Ltd only above Rs 3660 on a closing basis.