Technical Portfolio Guide

ASIAN PAINTS LTD

CMP: Rs.1518.55
BSE Code: 500820

I have bought Asian Paints at Rs 1500 for the short term. Should I wait or exit with profits? - Sanyog Patial

BOOK PROFIT IN ASIAN PAINTS AT CURRENT MARKET PRICE.

Asian Paints Ltd is currently trading at Rs 1518.55. Its 52-week high/low stand at Rs 1621.95/Rs 1119.60 made on August 30, 2019 and October 23, 2018, respectively. Considering the weekly time frame, the stock is trading in the rising channel since October 2016. Recently, the stock had touched upper trendline of the rising channel, where it had formed evening Doji star candlestick pattern on the daily time frame. The evening Doji star is a reversal candlestick pattern which is bearish in nature and appears at the end of an uptrend. The short term trend is bearish, as the stock is trading below its weekly pivot and short term moving averages, i.e. 8-day EMA, 13-day EMA and 20-day EMA. Among the momentum indicators, the 14-period daily RSI is currently quoting at 43.29 and it is trading below its 9-day average. The stochastic oscillator is also suggesting some bearish momentum as %K is below the %D. The daily MACD stays bearish as it is trading below its zero line since last 15 trading sessions. Moreover, there has been a negative divergence between the daily RSI, daily stochastic and the stock price movement, which suggests a limited upside. Considering all the above factors, we recommend you to book profit in Asian Paints at the current market price.

ASHOKA BUILDCON LTD

CMP: Rs.91
BSE Code: 533271

Ashoka Buildcon is trading near its 52-week low. Can I enter now? - Satya Shri

AVOID BUYING ASHOKA BUILDCON FOR NOW.

Ashoka Buildcon Ltd. is currently trading at Rs. 91. Its 52-week high/low stand at Rs 155/Rs 89.85 made on May 30, 2019 and September 05, 2019, respectively. The stock had formed reversal spinning top candlestick pattern as on weekend of May 4, 2018, and thereafter, it had marked a sequence of lower tops and lower bottoms. Recently, the stock had given breakdown of upward sloping trendline support, 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-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The 14-period weekly RSI is currently quoting at 28.33 and it is trading below it 9-week average. The weekly stochastic oscillator is also suggesting some bearish momentum as %K is below the %D. The MACD is trading below the zero line and signal line. The histogram is suggesting that the downward momentum is picking up. Considering all the above factors we recommend you to avoid buying Ashoka Buildcon for now

ABBOTT INDIA LTD

CMP: Rs.9529.30
BSE Code: 500488

I have bought shares of Abbott India at Rs 8440 for the short term, Should I hold or book profits? - Jeyaprakash K

HOLD ABBOTT INDIA WITH STOP LOSS OF RS 9050 ON A CLOSING BASIS.

Abbott India Ltd. is currently trading at Rs. 9529.30. Its 52-week high/low stand at Rs 9594.95/Rs 6900 made on September 4, 2019 and October 26, 2018, respectively. The stock had given symmetrical triangle pattern breakout on June 10, 2019, and thereafter, it had marked a sequence of higher tops and higher bottoms. 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 daily RSI is in bullish zone and it has recently given breakout of downward sloping trendline. The daily stochastic oscillator is also suggesting some bullish strength as %K is above the %D. Moreover, the daily ADX is very strong at 28.04. The -DI is much below the +DI and ADX is above the -DI. This shows the technical strength in the stock. Considering all the above factors, we recommend you to hold Abbott India with stop loss of Rs 9050 as it is the confluence of 20-day EMA and upward sloping trendline support.

EDELWEISS FINANCIAL SERVICES LTD

CMP: 104.95
BSE Code: 532922

I have bought EDELWEISS at Rs 120 for the long term. Should I wait or exit? - Ashish Auru

EXIT IN EDELWEISS FINANCIAL SERVICES LTD AT THE CURRENT MARKET PRICE 

Edelweiss Financial Services Ltd. is currently trading at Rs. 104.95. Its 52-week high/low stand at Rs 271.90/Rs 93 made on September 14, 2018, and August 23, 2019, respectively. The stock had formed reversal bearish engulfing candle as on weekend of August 10, 2018 and thereafter, it had marked a sequence of lower tops and lower bottoms. The stock had recently given breakdown of the upward sloping trendline support. Currently, the stock 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. From the momentum indicators perspective, the 14-period weekly RSI is currently quoting at 32.54 and it is trading below its 9-week average. The weekly MACD is trading below its zero line and signal line since last 7 weeks. Moreover, on the weekly and daily time frames, the stock is trading below its Ichimku cloud. Considering all the above factors, we recommend you to exit in Edelweiss Financial Services at the current market price.