Your Technical Portfolio Guide

UFLEX

CMP: Rs.463.25

BSE Code:500148

Can I enter Uflex at the current levels?

- Arvind Kumar Verma

BUY UFLEX ABOVE RS 482-489

Uflex is currently trading at Rs 463.25. Its 52-week high/low stand at Rs 506.75/Rs 256.05 made on December 26, 2017 and February 15, 2017, respectively, which depicts an uptrend. Considering the weekly time frame, the stock has been more or less consolidating since October 2017. On the daily time frame, it had given a downward sloping trendline breakout on December 20, hit the all-time high and, thereafter, it has corrected near to the trendline level. The stock has currently taken a double support at Rs 469 level. However, the low volumes and 14-period RSI quoting at 49 suggest lack of momentum for now. Hence, we suggest you to enter, but only above Rs 482 or on further upside of Rs 489.

DABUR

CMP: Rs.363.55

BSE Code:500096

I am holding shares of Dabur bought at Rs 350. What should I do now?

- Gautam Joshi

HOLD DABUR INDIA WITH A STOP LOSS OF RS 345

Dabur India is currently trading at Rs 363.55. Its 52-week high/low stand at Rs 368/ Rs 263.10 made on January 18, 2018 and February 13, 2017, respectively, showing an uptrend. After hitting a multi-year multiple resistance breakout at Rs 320 level, the stock is taking gradual steps upwards and is trailing at all-time high levels. Considering the daily time frame, the stock gave a symmetric triangle pattern breakout at Rs 350 on January 3. The stock is seen consolidating for eight consecutive trading sessions since January 8 at the peak levels. The stock needs to close above Rs 362 to continue the uptrend. Poor volumes are refraining higher momentum in the stock. We suggest a hold with a stop loss of Rs 345.

IDBI

CMP: Rs.60.20

BSE Code:500116

Can I enter IDBI at the current level?

- Charapani Ghadai

AVOID IDBI FOR NOW AND ENTER ABOVE RS 64

IDBI is currently trading at Rs 60.20. Its 52-week high/low stand at Rs 86.50/50.25 made on February 6, 2017 and August 14, 2017, respectively, depicting a downtrend, though the stock has recovered after it almost hit a double bottom on August 14 and October 19. The stock witnessed a gap-up opening on October 25 and surged more than 35% to Rs 68 level, touching the downward sloping trendline level. However, the stock has been falling since and continues with lower tops as if to fill the gap at Rs 54.50. The stock will fall further below Rs 56.80 level, followed by Rs 54.50. Hence, we suggest you to avoid for now and enter only above Rs 64 level.

NBCC

CMP: rs.237.80

BSE Code:534309

I am holding NBCC bought at Rs 240 on a breakout, but could not square off on the upside, What shall I do now, hold or exit?

- Rajendran K P

EXIT NBCC BELOW RS 224

NBCC is currently trading at Rs 237.80 Its 52-week high/low stand at Rs 291.75/161.10 made on November 08, 2017 and March 09, 2017, respectively. Hitting its all-time high with a double top at Rs 291 level, the stock has witnessed lower tops and lower bottoms till date. The stock has retraced up to 61.8% of the prior upward move on a closing basis. Further, the stock also witnessed 100-day EMA support at Rs 242 level and has created a kind of hammer pattern, which suggests reversal. However, the stock may give a recovery only above Rs 257 level on a closing basis. However, the poor volumes and oscillators lying below 50 suggest no immediate uptrend for now. Hence, we suggest you to exit below Rs 224, which is its 200-day EMA support. Flash News Investment, Jan 22, 2018 5

KRIDHAN INFRA

CMP: Rs.120.50

BSE Code:533482

I have bought shares of Kridhan Infra at Rs 120. What to do now?

- Umed Zala

HOLD KRIDHAN INFRA WITH A STOP LOSS OF RS 111

Kridhan Infra is currently trading at Rs 120.50. Its 52-week high/low stand at Rs 142/Rs 47.50 made on January 5, 2018 and March 24, 2017 respectively. Considering the weekly time frame, the stock gave a kind of cup and handle pattern breakout at Rs 109 level during the week ending December 22. The breakout was supported by a spurt in volumes sand the 14-period RSI entering the overbought zone. Recently, after hitting 52-week and all-time high at Rs 142, the stock witnessed profit-booking up to 52% retracement level of the prior upward rally and bounced back. With this, we can expect further upside above Rs 130. Hence, we suggest a Hold for now.

UNITED SPIRITS (MCDOWELL-N)

CMP: Rs.3684.45

BSE Code:532432

I have bought United Spirits McDowell-N at Rs 3360

- Nandakumar TR

HOLD MCDOWELL-N WITH A STOP LOSS OF RS 3360 (AT COST)

United Spirits is currently trading at Rs 3684.45. Its 52-week high/low stand at Rs 4003.45/ Rs 1831.25 made on January 5, 2018 and April 18, 2017, respectively, depicting an uptrend. Considering the weekly time frame, the stock had given a significant Inverse head & shoulders pattern breakout at Rs 2609 during end of October 2017 with long body candle and spurt in volumes and the 14-period RSI at 68 levels. The stock, thereafter, has given an impulse, forming a rounding bottom pattern. The stock has corrected for two consecutive weeks after hitting 52-week high. The stock, however, took a support at 23.6% retracement level and hence we may expect an upmove, more prominently above Rs 3860 level. Hence, we suggest a hold for now.

Disclaimer: 1) Some of the companies covered in this section do not have good volumes on the bourses. Technical analysis works much better in cases where volumes on the stock are high. Investors please take note of the same.

2) Recommendations in this section are purely based on Technical Analysis. FNIW may or may not look at the Fundamental Strength of the recommended stocks.6 Flash News Investment, Jan 22, 2018