Your Technical Portfolio Guide
ASTRAZENECA PHARMA
CMP: Rs 998.25 BSE Code: 506820
Shall I enter Astrazeneca at CMP?
- Manikandan Somasundaram
AVOID ASTRAZENECA PHARMA FOR NOW, ENTER AFTER CLOSE ABOVE RS 1086
Astrazeneca Pharma is currently trading at Rs 998.25. Its 52-week high/low stand at Rs 1278/Rs 882.55 made on November 7, 2017 and August 22, 2017, respectively. The stock has been failing to breach the levels of Rs 1250-1275 on a weekly closing basis. The stock had also formed an inverse head & shoulders with neckline at Rs 1270, but it could not break out and, thereby, it saw a turnaround since January 2018, falling nearly 27%, which is near to its major multiple support level of around Rs 900. On the daily time frame, the stock also gave an upward sloping trendline breakdown at Rs 972 during mid-March. On April 18, the stock gave an impulse upside with volume spurt and with 14-period RSI crossing 60. However, the stock retreated from its major resistance zone of Rs 1075-1085. Hence, fresh buying or a pullback is the matter of concern. For now, we suggest avoid and enter only above Rs 1086 on a daily closing basis..
CESC
CMP: Rs.Rs 1045 BSE Code: 500084
I had bought CESC at Rs 1080 at the end of last year, but could not sell on the downÂside. What to do now?
- Rajiv Chandrasekar
HOLD CESC WITH A STOP LOSS OF RS 1010
CESC is currently trading at Rs 1045. Its 52-week high/low stand at Rs 1188.95/Rs 812 made on January 11, 2018 and May 18 , 2017, respectively. Considering the daily time frame, the stock broke its multiple support at Rs 973 during first week of March and fell up to the level of Rs 861. After hitting Rs 861, the stock witnessed a reversal Doji and thereby gave almost a consistent upsurge and made a kind of V pattern with a breakout at Rs 1030 level. The stock broke its two major resistances at Rs 1030 followed by Rs 1050. Hence, we suggest you to hold the stock for now and exit below Rs 1010
BLS
CMP: Rs.152.70 BSE Code: 540073
Can I enter BLS at the moment for minor short term profit?
- Ashutosh Rai
BUY BLS INTERNATIONAL SERVICES AT CMP
BLS is currently trading at Rs 152.70. Its 52-week high/low stand at Rs 293/115 made on January 10, 2018 and March 3, 2018, respectively, which suggests a sudden downfall in the stock. Considering the daily time frame, the stock had taken multiple resistance near the levels of Rs 282-283. It attempted a breakout, but retreated big time from Rs 293, its all-time high level and gave a 'shooting star' on that day. Thereafter, it fell nearly 61% up to 115. The stock recently bounced back up to Rs 140-146 levels and consolidated at these levels. Currently, the stock has breached Rs 146 on a closing basis, giving a kind of cup and handle breakout at Rs 143 with high volumes and with 14-period RSI hitting above 50. With this, it can give upside of about Rs 25-30
INDIAN OVERSEAS BANK
CMP: Rs 18.10 BSE Code:532388
I had entered IOB at Rs 19 level, assuming it to be a breakout, but the stock turned back. What to do?
- Vaibhav Phalak
EXIT INDIAN OVERSEAS BANK BELOW RS 17
IOB is currently trading at Rs 18.10. Its 52-week high/low stand at Rs 32.25/Rs 17 made on May 5, 2017 and March 28, 2018, respectively. The stock has a tendency to give a sharp downfall, followed by consolidation. On February 2 also, the stock broke its multiple support range of Rs 21-22 and, thereafter, it tumbled up to Rs 17. It bounced up to Rs 18.40, but it is hovering near this level since April 6, which looks like the start of yet another consolidation. The volumes are poor and the 14-period RSI is quoting at Rs 46. Therefore, we suggest you to exit below Rs 17.85 or below Rs 17.
ITC
CMP: Rs 277 BSE Code:500875
I have bought ITC at Rs 266. Should I hold or book minor profit?
- Abhishek Gupta
HOLD ITC WITH A STOP LOSS OF RS 261
ITC is currently trading at Rs 277. Its 52-week high/low stand at Rs 353.20/Rs 250.35 made on July 3, 2017 and November 15, 2017 respectively. Considering the daily time frame, after hitting a double bottom at Rs 250 level, the stock surged and had given a slightly downward tilted trendline breakout at Rs 273 level on January 19. However, after tremendous volatile sessions, the stock retreated and hit near Rs 251, from where it had bounced. The stock has bounced back again and has broken out of trendline at Rs 269 with a huge bodied candle. The volumes are rising and the 14-period RSI rose sharply to 68. Hence, we see some more upside in the stock after a pullback or from the current levels itself.
DHFL
CMP: Rs 590.20 BSE Code:511072
I have bought DHFL at Rs 571 level. What should be my next action?
- Samiran Bose
HOLD DHFL WITH A STOP LOSS OF RS 547
DHFL is currently trading at Rs 590.20. Its 52-week high/low stand at Rs 677.85/Rs 387.40 made on November 3, 2017 and May 23, 2017, respectively. Considering the daily time frame, the stock broke its multiple support at Rs 570-565 levels on February 2 and fell up to Rs 459.50. The stock bounced back and formed a kind of symmetric triangle pattern with a breakout at Rs 529 on April 13. Since then, it has been trading straight up. The stock is now trailing at its downward sloping trendline, drawn from its all-time high at Rs 677.85. The volumes were high and the 14-period RSI too gave a straight upside and is trailing at 68. We suggest a hold.