Technical Portfolio Guide

CENTURY PLYBOARDS (I) LTD

CMP Rs. 137.25 
BSE Code : 532548

Is it a good time to enter Century Plyboards? - Kashyap Gajjar

AVOID BUYING CENTURY PLY FOR NOW. 

Century Plyboards (I) Ltd. is currently trading at Rs. 137.25. Its 52-week high/low stand at Rs 263.90/Rs 136.90 made on July 24, 2018 and July 18, 2019, respectively. The stock had formed bearish engulfing candle as on weekend of January 19, 2018 and, thereafter, it had marked a sequence of lower tops and lower bottoms. Considering the weekly time frame, the stock had recently given 'head and shoulders' like pattern breakdown at Rs 155 level, which indicates further downside. 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 14-period weekly RSI is currently quoting at 32.67 and it is trading below its 9-week average. The volumes are very low and oscillators are lying below 50 and are tilted southwards, which indicate further downward momentum. Considering all the above factors, we recommend you to avoid buying Century Ply for now. 

SUN PHARMACEUTICAL INDUSTRIES LTD 

CMP Rs. 426.15 
BSE Code : 524715

I have bought shares of Sun Pharma at Rs 400 for the short term, Should I hold or book profits? - Murthy K.

HOLD SUN PHARMA WITH STOP LOSS OF RS 410 ON A CLOSING BASIS.

Sun Pharmaceutical Industries Ltd. is currently trading at Rs. 426.15. Its 52-week high/low stand at Rs 678.80/Rs 350.40 made on September 6, 2018 and May 13, 2019, respectively. The stock had formed reversal bearish engulfing candle as on weekend of April 17, 2015 and, thereafter, it had marked a sequence of lower tops and lower bottoms. Considering the daily time frame, the stock had formed double bottom pattern and gave neckline breakout on July 15, 2019. With this, the stock has also managed to close above its weekly pivot and above its crucial moving averages, i.e. 20-day EMA, 50-day EMA and 100-day EMA. The leading indicator 14-period daily RSI is currently quoting at 61.26 and it is in bullish zone. The daily MACD is above the zero line and signal line for the past three trading sessions. The histogram is suggesting that the upside momentum is picking up. The stochastic oscillator is also suggesting some bullish strength as %K is above the %D. According to the measure rule of double bottom pattern, the stock is likely to touch the level of Rs 455 in the coming weeks. Hence, we recommend you to hold Sun Pharma with stop loss of Rs 410 on a closing basis. 

TATA ELXSI LTD 

CMP Rs. 731.65 
BSE Code : 500408

I have entered Tata Elxsi at Rs 860 level. Should I keep it or exit? - Ashveen Pai

EXIT TATA ELXSI AT THE CURRENT MARKET PRICE.

Tata Elxsi Ltd. is currently trading at Rs. 731.65. Its 52-week high/low stand at Rs 1491.75/Rs 722.80 made on July 26, 2018 and July 18, 2019, respectively. The stock had formed reversal bearish engulfing candle as on weekend of September 07, 2018 and, thereafter, it had marked a sequence of lower tops and lower bottoms. Recently, the stock had given breakdown of descending triangle pattern at Rs 820 level, which indicated further downward momentum. The major trend of the stock is negative as it is trading below its weekly pivot and short-long term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The leading indicator 14-period weekly RSI is currently quoting at 24.50 and it is in super bearish zone. The fast stochastic is also trading below its slow stochastic line. The weekly and daily MACD stays bearish as it is trading below its zero line and signal line. Considering all the above factors, we recommend you to exit Tata Elxsi at the current market price

DABUR INDIA LTD 

CMP Rs. 429
BSE Code : 500096

I’ve purchased 150 shares of Dabur at an average price of Rs 400 per share. Should I continue to hold this scrip or book profit at the current levels? - Sanobar Ahmad

HOLD DABUR WITH STOP LOSS OF RS 415 ON A CLOSING BASIS

Dabur India Ltd. is currently trading at Rs. 429.00. Its 52-week high/low stand at Rs 490.70/ Rs 357.10 made on August 27, 2018 and May 16, 2019, respectively. The stock had formed reversal Doji candlestick pattern as on weekend of May 17, 2019 and, thereafter, it had bounced till its multiple resistance zone of Rs 400-Rs 410. Considering the daily time frame, the stock had recently given consolidation breakout along with relatively higher volume. Additionally, the stock had formed sizeable bullish candle on the breakout day, which adds strength to the breakout. With this consolidation breakout, the ADX, which shows the strength of the trend, turned upside and moved above the -DI. 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-day, 50-day, 100-day and 200-day EMAs. The 14-period RSI is currently quoting at 70.06 and it is in super bullish zone. The daily MACD stays bullish as it is trading above its signal line and zero line. The stochastic oscillator is also suggesting some bullish strength as %K is above the %D. Considering all the above factors, we recommend you to hold Dabur India with stop loss of Rs 415 on a closing basis.