Technical Portfolio Guide

AUROBINDO PHARMA LTD 

CMP: Rs.465.15 
BSE Code: 524804 

I am holding shares of Auropharma bought at Rs 618, I don't want to exit at loss. What should I do? 
- Nischay Mandal 

EXIT AUROBINDO PHARMA AT CURRENT MARKET PRICE. 

Aurobindo Pharma Ltd. is currently trading at Rs. 465.15. Its 52-week high/low stands at Rs. 838/Rs. 436.65 made on April 30, 2019 and October 10, 2019, respectively. The stock was trading in an upward sloping channel since June 2017. Recently, the stock had given a breakdown of lower trendline of the upward channel along with robust volumes, which indicates further downward momentum in the stock price. 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. Three weeks ago, the stock marked 'death crossover' as the 50-DMA crossed below the 200-DMA, indicating a long term bearish momentum. The leading indicator 14-period weekly RSI is in super bearish zone and it has moved below its recent swing low, which is bearish. Moreover, the stochastic oscillator is also suggesting some bearish momentum as %K is below the %D. Considering all above factors, we recommend you to exit Aurobindo Pharma at current market price. 

GLAXOSMITHKLINE CONSUMER HEALTH. 

CMP: Rs.8464 
BSE Code: 500676 

I have bought 41 shares of GSKCONS at Rs 7350 as per your recommendation, but I missed your book profit SMS. Now what should I do? 
- Dr. Shivaprakash 

BOOK PROFIT IN GSKCONS AT CURRENT MARKET PRICE. 

Glaxosmithkline Consumer Healthcare Ltd is currently trading at Rs. 8464. Its 52-week high/low stands at Rs. 8925.75/Rs. 6638.50 made on September 23, 2019 and October 10, 2018, respectively. The stock had given Ascending Triangle pattern breakout as on the weekend of August 09, 2019 and thereafter, it has bounced sharply to hit its all time high level. However, the stock formed a bearish reversal Shooting Star candlestick pattern as on weekend of September 27, 2019 and gave a confirmation the next week. With this bearish formation, the stock has also closed below its weekly pivot and short term moving averages, i.e. 8-day EMA and 13-day EMA. Among the momentum indicators, the 14-period weekly RSI has cooled off after touching the 70 zone and, at present, its reading is 63.53. The stochastic oscillator is also suggesting some bearish momentum as %K is below the %D. Moreover, there has been a negative divergence between the weekly RSI, weekly stochastic and the stock price movement, which suggests a limited upside. Considering all above factors, we recommend you to book profit in GSKCONS at current market price. 

ATUL LTD 

CMP: Rs.3920 
BSE Code: 500027 

I had bought Atul at Rs 3600 recently. What is the near and long term outlook.? - Pradeep Jain 

HOLD ATUL WITH A STOPLOSS OF RS. 3850 ON CLOSING BASIS. 

Atul Ltd. is currently trading at Rs. 3920. Its 52-week high/low stands at Rs. 4160/Rs.3001 made on June 13, 2019 and October 11, 2018, respectively. The stock is trading in an upward sloping channel pattern since mid-August 2014. Then the stock had formed sizeable bullish candle near the lower trendline of upward channel support and thereafter, has bounced sharply. The major trend of the stock is bullish as it is trading above its weekly pivot and above its longshort 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 weekly RSI is currently quoting at 58.16 and it is trading above its 9-week average. The momentum indicator weekly MACD line has crossed above the signal line, which resulted in the histogram turning positive. Moreover, the daily ADX is very strong at 48.73. The -DI is much below the +DI and ADX is above the -DI and +DI. This shows the technical strength in the stock. Considering all above factors, we recommend you to hold Atul with a stoploss of Rs. 3850 on closing basis as it is confluence of 20-day EMA and upward sloping trendline support. 

BAJAJ ELECTRICALS LTD 

CMP:382 
BSE Code: 500031 

Shall I enter Bajaj Electricals at CMP for long term investment?
- R D BHUTIA 

AVOID BUYING BAJAJ ELECTRICALS FOR NOW. 

Bajaj Electricals Ltd. is currently trading at Rs. 382. Its 52-week high/low stands at Rs. 587.75/Rs. 338.85 made on April 16, 2019 and July 31, 2019, respectively. The stock formed a reversal Spinning Top candlestick pattern at its all time high level, and thereby fell, making lower tops and lower bottoms till hitting its 52-week low in July. Considering the weekly time frame, the stock is trading in counter trend consolidation pattern since last seven weeks, forming a flag pattern. The major trend of 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 37.69 and it is trading below its 9-week average. The fast stochastic line is also trading below its slow stochastic line, which indicates further downward momentum. In case, stock sustains and close below the lower trendline of Flag pattern, which is currently placed in the zone of Rs. 373-Rs. 370, it may extend its southward journey. Hence, we recommend you to avoid buying Bajaj Electricals for now.