Technical Portfolio Guide

NMDC LTD

CMP: Rs. 78.65 
BSE Code: 526371

Can I buy NMDC as it has fallen tremendously? - Vikram Malik

AVOID BUYING NMDC FOR NOW. 

NMDC Ltd is currently trading at Rs. 78.65. Its 52-week high/low stand at Rs 124.30/Rs 78 made on September 14, 2018 and August 22, 2019, respectively. Considering the weekly time frame, the stock had formed Adam and Adam double top pattern and it has recently given neckline breakdown at Rs 90 along with robust volumes. According to the measure rule of Adam and Adam double top pattern, the target is placed at Rs 60 level. 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. The 14-period weekly RSI is currently quoting at 30.38 and it is in a falling mode. The weekly stochastic oscillator is also suggesting some bearish momentum as %K is below the %D. The momentum indicator weekly MACD line has crossed under the signal line, which resulted in the histogram turning negative. Moreover, the ADX and -DI is much above the +DI, which indicates negative strength in the stock. Considering all the above factors, we recommend you to avoid buying NMDC for now. 


SHEELA FOAM LTD

CMP: Rs. 1124.10
BSE Code: 540203

I have bought Sheela Foam Ltd at Rs 295 for the short term. Should I wait or exit? - Basavaraj Kukudi

EXIT IN SHEELA FOAM AT THE CURRENT MARKET PRICE.

Sheela Foam Ltd is currently trading at Rs. 1124.10. Its 52-week high/low stand at Rs 1817.95/Rs 1084 made on September 11, 2018 and August 14, 2019, respectively. The stock had formed Adam and Adam double top pattern and gave neckline breakdown at Rs 1270 as on weekend of January 25, 2019. Recently, the stock had given breakdown of descending triangle pattern, which depicts further downward momentum. Currently, the stock is trading below its 20-day EMA (1185.95), 50-day EMA (1233..45), 100-day EMA (1270.50) and 200-day EMA (1324.35), which indicates a medium-long term downtrend. Among the momentum indicators, the 14-period weekly RSI is currently quoting at 32.11 and it is trading below its 9-week average. The weekly MACD stays bearish as it is trading below its zero line and signal line. Moreover, the Ichimoku chart of daily and weekly time frame is clearly giving a negative view as it is trading below the KS line, TS line and Ichimoku cloud. Considering all the above factors, we recommend you to exit Sheela Foam Ltd at the current.


NIIT TECHNOLOGIES LTD 

CMP: Rs. 1362
BSE Code: 532541

I have bought shares of NIIT Tech at Rs 1230 for the short term, Should I hold or book profits? - Yogesh Wattamwar

HOLD NIIT TECH WITH STOP LOSS OF RS 1300 ON A CLOSING BASIS.

NIIT Technologies Ltd is currently trading at Rs. 1362. Its 52-week high/low stand at Rs 1425/Rs 1031.30 made on September 3, 2018 and November 26, 2018, respectively. Considering the weekly time frame, the stock had formed bullish engulfing candle as on weekend of August 9, 2019, and thereafter it bounced sharply. Considering the daily time frame, on August 20, 2019, the stock had given breakout of horizonal trendline resistance along with relatively higher volumes. Additionally, the stock formed a sizeable bullish candle on the breakout day, which adds strength to the breakout. 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 14-period RSI is in the bullish zone and the MACD is above the zero line and the signal line. The histogram is suggesting that the momentum is picking up. Moreover, the ADX is very strong at 29. The -DI is below the +DI and ADX is above the -DI and +DI. This shows the technical strength in the stock. Hence, we suggest you to hold NIIT Technologies with stop loss of Rs 1300 on a closing basis. 

ASTRAZENECA PHARMA INDIA LTD 

CMP: Rs.  1679.95
BSE Code: 506820

I have bought Astrazeneca Pharma above Rs 1500. Now I would like to know your suggestion on this stock looking at the current market situation. - Dr. Dipak Kumar

BOOK PROFIT IN ASTRAZENECA AT THE CURRENT MARKET PRICE. 

Astrazeneca Pharma India Ltd is currently trading at Rs. 1679.95. Its 52-week high/low stand at Rs 2398.55/Rs 1306.80 made on April 30, 2019 and December 7, 2018, respectively. The stock had given breakout of downward sloping trendline as on weekend of June 15, 2018 and thereafter it gave bounce up to the 52-week high level. Recently, the stock had given breakdown of 'Bump and Run' reversal pattern, which depicts 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-day EMA, 50-day EMA, 100-day EMA and 200-day EMA. The leading indicator 14-period weekly RSI is currently quoting at 38.20 and it is trading below its 9-week average. The weekly MACD is trading below its signal line and zero line. In case the stock sustains and closes below Rs 1660 level, it may extend its southward journey. Considering all the above factors, we recommend you to book profit in Astrazeneca Pharma India at the current market price.