Technical Portfolio Guide

ACCELYA SOLUTIONS INDIA LTD 

CMP: Rs. 881.50
BSE Code: 532268

Can I enter Accelya at the current price? 

AVOID BUYING ACCELYA FOR NOW

Accelya Solutions India Ltd is currently trading at Rs 881.50. Its 52-week high/low stand at Rs 1240.85/Rs 855.05 made on June 27, 2018 and June 25, 2019, respectively. The stock witnessed lower tops and slightly similar bot toms after hitting all-time high, where it had formed reversal dark cloud cover candlestick pattern. Thereafter, it gave a multiple point horizontal trendline support breakdown at Rs 1260 and gave almost continuous downfall with rising volumes where the stock hit below its major support at Rs 1100 level. Currently, 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 indicators 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 29.50 and it was not able to cross the 60 mark since April 2017. Considering all above factors we recommend you to avoid buying Accelya for now.

NESTLE INDIA LTD

CMP: Rs. 11809.55
BSE Code: 500790

I am holding shares of Nestle bought at Rs 9900 for the long term. What should be my next action? - Sunil Pitre

HOLD NESTLE INDIA WITH STOP LOSS OF RS 10,350 ON A CLOSING BASIS

Nestle India Ltd. is currently trading at Rs. 11809.55. Its 52-week high/low stand at Rs 11947.95/Rs 9080.10 made on June 26, 2019 and October 11, 2018, respectively. After registering high of Rs 11705 in the month of August 2018, the stock entered into a corrective phase. The correction was halted in-between 50 per cent and 61.8 per cent retracement of the previous upward rally from Rs 6887.25 to Rs 11705 and it coincides with the 50-week EMA. Recently, the stock has broken out of 42-week consolidation and an ascending triangle, which depicts further upward momentum. The major trend of the stock is bullish as it is trading above its weekly pivot and above its long-short term moving averages, i.e. 20-week, 50-week, 100-week and 200week EMAs and these moving averages are exactly in an ascending order, which suggests that the trend is strong. The 14-period weekly RSI took support at the 44 level historically many times, and this time also it bounced exactly from the same level. The weekly MACD is above the zero line and signal line for the past six weeks. The histogram is suggesting that the momentum is picking up. Hence, we suggest you to hold with stop loss of Rs 10350 on a closing basis as it is the confluence of 50-week EMA and upward sloping trendline support. 

JAIN IRRIGATION SYSTEMS LTD 

CMP: Rs. 27.65
BSE Code: 500219

Jain Irrigation is falling consistently. Is it the right time to enter? - Agarwal Navin

AVOID BUYING JAIN IRRIGATION FOR NOW. 

Jain Irrigation Systems Ltd. is currently trading at Rs. 27.65. Its 52-week high/low stand at Rs 90/Rs 16.30 made on June 27, 2018 and June 20, 2019 respectively. The stock had formed reversal bearish engulfing candle as on weekend of February 2, 2018 and, thereafter, it marked a sequence of lower tops and lower bottoms. 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 leading indicator RSI is in super bearish zone and it was not able to cross the 60 mark since January 2018. Additionally, on the weekly time frame, the stock is trading above its Ichimku cloud and lower Bollinger band level. Currently, the volumes support the falling prices and the oscillators are inclined southward, which suggests more downside from the current levels. Considering all above factors, we recommend you to avoid buying Jain Irrigation for now.

ION EXCHANGE(INDIA) LTD 

CMP: Rs. 641.55
BSE Code: 500214

I want to know about Ion Exchange. I hold 80 shares bought @ Rs 540 two years back. What to do with the shares as I could not follow your exit call. Please advice me.
- Arun Kumar 

HOLD ION EXCHANG WITH STOP LOSS OF RS 550 ON A CLOSING BASIS. 

Ion Exchange (India) Ltd. is currently trading at Rs. 641.55. Its 52-week high/low stand at Rs 641.55/Rs 335 made on June 27, 2019 and October 31, 2018 respectively. The stock had given downward sloping trendline breakout as on weekend of May 24, 2019 along with strong volumes. Since then, the stock is consistently forming higher highs and higher lows. The major trend of the stock is bullish, as it is trading above its weekly pivot and above its long-short term moving averages, i.e. 20-week, 50-week, 100-week and 200-week EMAs and these moving averages are exactly in an ascending order, which suggests that the trend is strong. The leading indicator weekly RSI is in super bullish zone and the weekly MACD is above the zero line and the signal line. Moreover, the weekly ADX is very strong at 27.06. The -DI is much below the +DI. This shows the technical strength in the stock. In case the stock sustains above Rs 635-Rs 640 level, it may extend its upmove. Considering all the above factors, we suggest you to hold with stop loss of Rs 550 on a closing basis as the upward sloping trendline support is placed there.