Technical Portfolio Guide
CRISIL LTD
CMP: Rs.1174.00
BSE Code: 500092
Shall I enter CRISIL as it has fallen drastically in the last couple of months?
- Suriajayakumar D
AVOID BUYING CRISIL LTD FOR NOW.
CRISIL Ltd. is currently trading at Rs. 1174.00. Its 52-week high/low stand at Rs 1831.60/Rs. 1148.85 made on August 31, 2018 and August 8, 2019 respectively. The stock had given upward sloping trendline breakdown as on weekend of February 3, 2017 and, thereafter, it had marked a sequence of lower tops and lower bottoms. Recently, the stock had given breakdown of descending triangle pattern on the weekly scale and tumbled sharply. 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 14-period weekly RSI has recently given breakdown of upward sloping trendline and it is currently quoting at 28.33, which depicts negative momentum. The weekly MACD line has crossed under the signal line, which resulted in the histogram turning negative. Considering all above factors, we recommend you to avoid buying CRISIL Ltd for now.
TATA CONSULTANCY SERVICES LTD
CMP: Rs.2255.00
BSE Code: 532540
I am holding 80 shares of TCS at an average price of Rs 2020 bought for the short term. What to do now? Hold or book profit?
- K. Goswami
HOLD TCS WITH STOP LOSS OF RS 2140 ON A CLOSING BASIS.
Tata Consultancy Services Ltd. is currently trading at Rs. 2255 Its 52-week high/low stand at Rs 2290.65/Rs 1784 made on June 21, 2019 and October 29, 2018, respectively. The stock had formed reversal Doji candle as on weekend of June 21, 2019 and, thereafter, it had entered into the corrective phase. The correction was halted near the upward sloping trendline support, where it had formed reversal 'three inside up' candlestick pattern on the weekly scale. 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 leading indicator 14-period weekly RSI is currently quoting at 60.63 and it is trading above its 9-week average. The weekly stochastic oscillator is also suggesting some bullish strength as %K is above the %D. Moreover, the daily ADX is very strong at 23.68. The -DI is below the +DI and the ADX is above the -DI and +DI. This shows the technical strength in the stock. Considering all the above factors, we recommend you to hold TCS with stop loss of Rs 2140 on a closing basis.
TATA STEEL BSL LTD
CMP: Rs.22.95
BSE Code: 500055
I have bought Tata Steel BSL at an average price of Rs 61. Now the stock is trading at Rs 24. Please suggest what to do?
- Prdeep
EXIT TATA STEEL BSL AT THE CURRENT MARKET PRICE.
Tata Steel BSL Ltd. is currently trading at Rs. 22.95. Its 52-week high/low stand at Rs 45.80/Rs 22.40 made on December 14, 2018 and August 08, 2019, respectively. The stock had formed reversal Dark Cloud Cover candlestick pattern as on weekend of May 26, 2017 and, thereafter, it had marked a sequence of lower tops and lower bottoms. Recently, the stock has given breakdown of symmetrical triangle pattern, which indicates further downward momentum. The major trend of the stock is bearish 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. After looking at the weekly chart, it has been continuously trading below its 200-week EMA level from June 2014. The 14-period weekly RSI is currently quoting at 29.19 and it is in a falling mode. The weekly MACD stays bearish as it is trading below its zero line and signal line. Moreover, on the weekly scale, the fast stochastic is also trading below its slow stochastic line. Considering all above factors, we recommend you to exit Tata Steel BSL at the current market price.
BERGER PAINTS INDIA LTD
CMP: Rs.355.50
BSE Code: 509480
What are the prospects of Berger Paints? I have bought the shares @Rs 320 for the short term. Please let me know.
- Vijay kumar
HOLD BERGER PAINTS WITH STOP LOSS OF RS 335 ON A CLOSING BASIS.
Berger Paints India Ltd. is currently trading at Rs. 355.50. Its 52-week high/low stand at Rs 356.95/Rs 260.55 made on August 8, 2019 and October 23, 2018, respectively. Considering the weekly time frame, the stock has recently given breakout of symmetrical triangle pattern. 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 and these moving averages are exactly in an ascending order, which suggests that the trend is strong. Since last three weeks, the volumes recorded were above 50-week average, which is a sign of accumulation. Interestingly, the weekly RSI has broken out of symmetrical triangle, which is a very bullish sign. The daily MACD stays bullish as it is trading above its zero line and signal line. The daily stochastic oscillator is also suggesting some bullish strength as %K is above the %D. Moreover, the other volume-based indicators like OBV and money flow index are also very strong. Considering all the above factors, we recommend you to hold Berger Paints India Ltd with stop loss of Rs 335 on a closing basis as it is the confluence of upward sloping trendline support and short term 8-day EMA level.