Technical Portfolio Guide
PTC INDIA FINANCIAL SERVICES LTD
CMP: Rs. 15.80
BSE Code: 533344
PTC India is falling consistently. Is it the right time to enter?
- Ajit Kumar
AVOID BUYING PTC INDIA FOR NOW
PTC India Financial Services Ltd. is currently trading at Rs. 15.80. Its 52-week high/low stand at Rs 20.40/Rs 13 made on September 4, 2018, and March 15, 2019 respectively. The stock had formed reversal 'shooting star' candle as on weekend of January 16, 2015 and, thereafter, it marked a sequence of lower tops and lower bottoms. Since last one year, the stock is trading in the contracting range of Rs 20.40- Rs 13. The major trend of the stock is bearish as it is trading below its crucial long and short term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The lower volumes and oscillators still tilted southward point to some more downside for now. From the momentum indicators' perspective, the 14-period weekly RSI is currently quoting at 45.83 and it was not able to cross the 60 mark since May 2017. The stock has strong support in the zone of Rs 13.50-Rs 13 as the upward sloping trendline is placed in that region. In case the stock sustains below this zone, it may extend its downmove. Hence, we suggest you to avoid buying PTC India for now.
ASTRAZENECA PHARMA INDIA LTD
CMP: Rs. 1845.90
BSE Code: 506820
I am holding shares of Astrazeneca Pharma bought at a breakout @ Rs 1730. The stock went up, but I could not sell. What should I do now?
- Arnav Grover
BOOK PROFIT AT THE CURRENT MARKET PRICE.
Astrazeneca Pharma India Ltd. is currently trading at Rs.1845.90. Its 52-week high/low stand at Rs 2398.55/Rs 1106 made on April 30, 2019 and June 6, 2018 respectively. The stock had given a downward sloping trendline breakout as on weekend of January 11, 2019 and thereby surged, making higher tops and higher bottoms till 52-week high. Recently, the stock had formed bearish engulfing candlestick pattern as on weekend of May 24, 2019, which is bearish in nature. The short term trend is negative as it is trading below its weekly pivot and short term moving averages i.e. 20-day EMA, 50-day EMA and 100-day EMA. The leading indicator weekly RSI is currently quoting at 45.61 and it is trading below its 9-week average, which depicts further negative momentum. The daily and weekly MACD stays negative as it is trading below the zero line. Considering all the above factors, we recommend you to book profit in Astrazeneca at the current market price.
BERGER PAINTS INDIA LTD
CMP: Rs. 328.70
BSE Code: 509480
I am planning to buy shares of Berger Paints. Is this the right time to invest in this stock? Please advise.
- Naresh Bhoi
BUY BERGER PAINTS ONLY ABOVE RS 335 ON A CLOSING BASIS.
Berger Paints India Ltd. is currently trading at Rs. 328.70. Its 52-week high/low stand at Rs 349/Rs 260.55 made on August 29, 2018, and October 23, 2018, respectively. The stock had formed reversal spinning top candle as on weekend of August 31, 2018 and, thereafter, entered into a corrective phase. The correction is halted near the 100-week EMA, and since then, it is trading in contracting consolidation. Recently, the stock had formed reversal Doji candle near the upward sloping trendline support zone and has initiated its northward move. The major trend of the stock is bullish as it is trading above its weekly pivot and above its long-short term moving averages. These moving averages are exactly in an ascending order, which suggests that the trend is strong. The weekly MACD stays bullish as it is trading above its zero line and signal line. The stochastic oscillator's %k is also trading above the %D on the weekly chart. However, at present, the stock is currently hovering around a key resistance level as defined by the downward sloping trendline. For further upside, the stock needs to form sizeable bullish candle above the trendline resistance, which is currently quoting at Rs 335 level. With this, the leading indicator weekly RSI is in a triangle formation and any breakout will be a great opportunity to buy this stock. Hence, we suggest you to buy Berger Paints India Ltd only above Rs 335 on a closing basis.
DCM SHRIRAM LTD
CMP: Rs. 518.60
BSE Code: 523367
I have bought shares of DCM Shriram Ltd for the short term at an average price of Rs 510. Should I book profits or hold these for some more time?
- leena Kapadia
BOOK PROFIT AT THE CURRENT MARKET PRICE.
DCM Shriram Ltd. is currently trading at Rs. 518.60. Its 52-week high/low stand at Rs 637/Rs 254 made on May 23, 2019 and June 5, 2018, respectively. The stock had given double top pattern breakout as on weekend of May 10, 2019, and thereafter, it bounced sharply till its 52-week high level. Recently, the stock had formed bearish engulfing candlestick pattern as on weekend of May 31, 2019, which is bearish in nature. With this, the stock had witnessed double top pattern, which suggests correction before another northward movement. The short term trend is negative as it is trading below its weekly pivot and short term moving averages. The 14-period RSI is currently quoting at 48.76 and it is trading below its 9-day average. The daily MACD histogram indicates downward momentum is picking up. Moreover, the negative divergence is clearly visible between the daily RSI and stock price movement, which suggests limited upside. Considering all the above factors, we recommend you to book profit in DCM Shriram at the current market price.