Your Technical Portfolio Guide
IDFC BANK CMP: Rs68.55 BSE Code:539437
I bought IDFC Bank at Rs 65. Does it have any potential upside?
- Krishna Mundada
IDFC Bank is currently trading at Rs 68.55. Its 52-week high/low stand at Rs 68.90/Rs 51.10 made on July 10, 2017, and December 18, 2017, respectively Considering the daily time frame, the stock has been trading in a slightly downward tilted channel pattern since December 2016. On December 18, the stock formed a
hammer-like pattern, depicting temporary bottom-fishing. Since January 5, 2018, the stock gave three consecutive upbeats breaching the upper trendline, while January 10 witnessed a pullback of up to 38.2% retracement level of the prior upward rally. The stock price recovered intra-day on January 10 and is likely to rally again post Rs 64 level. We suggest a hold for now.
LUPIN CMP: Rs.928.25 BSE Code:500257
Shall I enter Lupin to average at CMP to recover my earlier losses?
- Alok Malhotra
AVOID LUPIN FOR NOW
Lupin is currently trading at Rs 928.25. Its 52-week high/low stand at Rs 1572.25/Rs 807 made on February 6, 2017 and December 6, 2017, respectively, showing a steep downfall. The stock is consistently trading in the lower top lower bottom pattern since October 2015. Recently the stock witnessed nearly 22.5% sharp fall in 5 consecutive trading sessions till November 9, 2017. After hitting the 52-week low, the stock witnessed a gradual upbeat and now the stock is trailing at 50% retracement level of the prior sharp downfall. The volumes are low and the 14-period RSI is sitting in the overbought zone, which does not suggest immediate upside for now. Hence we suggest you avoid the stock for now.
NCL INDUSTRIES CMP: Rs.275.45 BSE Code:502168
Can I enter NCL Industries at the moment?
- Sreenivas Rao
BUY NCL INDUSTRIES AT CMP
NCL Industries is currently trading at Rs 275.45. Its 52-week high/low stand at Rs289.50/120.15 made on January 5, 2018, and January 20, 2017, respectively, depicting an uptrend. Considering the daily
time frame, the stock prices gave a nearly horizontal trendline breakout at Rs 270 level on January 4 and hit 52-week and
all-time high level at Rs 289.50. The stock witnessed a correction up to the trendline and bounced back recently. The
14-period RSI gave a positive reversal and is quoting at 65 level, which supports the bounce. Hence, we suggest a Buy in
the stock in the range of Rs 275-278.
CANARA BANK CMP: Rs.355.75 BSE Code532483
I am holding Canara Bank bought at Rs 372, Should I keep holding or exit?
- Sriram Venkitadri
EXIT CANARA BANK BELOW RS 340
Canara Bank is currently trading at Rs 355.75. Its 52-week high/low stand at Rs 463.40/ Rs 51.10 made on July 10, 2017 and December 18, 2017, respectively. Considering the daily time frame, the stock has been trading in a slightly downward tilted channel pattern since December 2016. On December 18, the stock formed a hammer-like pattern, depicting temporary bottom-fishing. Since January 5, 2018, the stock gave three consecutive upbeats breaching the upper trendline, while January 10 witnessed a pullback of up to 38.2% retracement level of the prior upward rally. The stock price recovered intra-day on January 10 and is likely to rally again post Rs 64 level. We suggest a hold for now. made on February 6, 2017 and December 6, 2017, respectively, showing a steep downfall. The stock is consistently trading in the lower top lower bottom pattern since October 2015. Recently the stock witnessed nearly 22.5% sharp fall in 5 consecutive trading sessions till November 9, 2017. After hitting the 52-week low, the stock witnessed a gradual upbeat and now the stock is trailing at 50% retracement level of the prior sharp downfall. The volumes are low and the 14-period RSI is sitting in the overbought zone, which does not suggest immediate upside for now. Hence we suggest you to avoid the stock for now. 289.50/120.15 made on January 5, 2018 and January 20, 2017 respectively, depicting an uptrend. Considering the daily
time frame, the stock prices gave a nearly horizontal trendline breakout at Rs 270 level on January 4 and hit 52-week and all-time high level at Rs 289.50. The stock witnessed a correction up to the trendline and bounced back recently. The 14-period RSI gave a positive reversal and is quoting at 65 level, which supports the bounce. Hence, we suggest a Buy in the stock in the range of Rs 275-278. Rs 259.99 made on October 26, 2017 and January 10, 2017, respectively. The stock has been trading with higher tops and higher bottoms since March 2016. The stock had given an inverse head and shoulders breakout at Rs 326 during April-end
2017 and a pullback from May to October 2017. Considering the daily time frame, the stock gave a sharp upside of nearly 150 points, with a gap-up opening on October 25. The stock is correcting since then. We may see some more correction in the stock below Rs 350-340 to fill the gap at Rs 320 level. Hence, we suggest you to exit below Rs 340 level.
PFC CMP: Rs.127.80 BSE Code:532810
Can I buy shares of PFC at the current levels?
- Balwinder Singh Bhuller
AVOID POWER FINANCE CORPORATION AND ENTER ONLY ABOVE RS 129
FOR 5-7 POINTS
PFC is currently trading at Rs 127.80. Its 52-week high/low stand at Rs 169/Rs 112.75 made on April 11, 2017 and December 18, 2017, respectively. The stock witnesses intra-day volatility with huge ups and downs. After resisting at its 52-week high of Rs 169 with almost a triple top pattern, the stock witnessed a sharp fall of nearly 28%. The stock thereafter has been seen moving in thr megaphone pattern. The stock bounced back from the downward trendline from the 52-week low levels, but it has consolidated with lack of momentum. The 14-period RSI has given negative crossover at 55 levels. We can see some upside above Rs 129 up to Rs 132, followed by Rs 136 for gap-filling.
BHUSHAN STEEL CMP: Rs.71.40 BSE Code:500055
Can I buy Bhushan Steel as hectic activity has been seen in the stock
- Yudhishther Lal Arora
BUY BHUSHAN STEEL ABOVE RS 76-76.20
Bhushan Steel is currently trading at Rs 71.40. Its 52-week high/low stand at Rs 102.80/Rs
PFC is currently trading at Rs 127.80. Its 52-week high/low stand at Rs 169/Rs 112.75 made on April 11, 2017 and December 18, 2017, respectively. The stock witnesses intra-day volatility with huge ups and downs. After resisting at its 52-week high of Rs 169 with almost a triple top pattern, the stock witnessed a sharp fall of nearly 28%. The stock thereafter has been seen moving in thr megaphone pattern. The stock bounced back from the downward trendline from the 52-week low levels, but it has consolidated with lack of momentum. The 14-period RSI has given negative crossover at 55 levels. We can see some upside above Rs 129 up to Rs 132, followed by Rs 136 for gap-filling. 40.60 made on May 18, 2017 and January 12, 2017, respectively, depicting an uptrend. Considering the daily time frame, the stock gave a shooting star pattern on May 18 at 52-week high and thereby plunged 50%. Thereafter, the stock is trading in a range forming a kind of triangular pattern. Recently, the stock breached its major resistance at Rs 75.80 with spurt in volumes and 14-period RSI at 68 levels. Moreover, it gave RSI downward sloping trendline breakout at Rs 66 level. Hence, we suggest a Buy above Rs 76 level..