Your Technical Portfolio Guide
KOTAK MAHINDRA BANK LTD.
CMP: Rs. 1341
BSE Code: 500247
I am holding shares of Kotak Mahindra Bank bought at the breakout at Rs 1300 for the short term, The stock is up, so should I sell or wait?
- Patibanda Appa Rao
BOOK PROFIT AT THE CURRENT PRICE.
Kotak Mahindra Bank Ltd. is currently trading at Rs.1341. Its 52-week high/low stand at Rs 1424/Rs 1002.30 made on July 17, 2018 and October 1, 2018, respectively. Considering the weekly time frame, after hitting 52-week low, the stock formed a reversal bullish engulfing candle and thereby witnessed gradual higher tops and higher bottoms. Recently, the stock has given downward sloping trendline breakout at around Rs 1295 on March 15, 2019, with a strong bullish candle on the same day. The major trend of the stock is positive as it is trading above its weekly pivot and above its short and long term moving averages. However, the stock had formed bearish engulfing candle on March 22, 2019, and thereafter it witnessed minor correction. The 14-period RSI has cooled off after touching overbought zone and a negative divergence is also spotted recently, which suggests limited upside. The fast stochastic line is also trading below its slow stochastic line. Considering all the above factors, we recommend you to book profit at the current price.
MOTILAL OSWAL FINANCIAL SERVICES
CMP: Rs. 595.05
BSE Code: 532892
Can I enter in Motilal Oswal Financial Services at the moment?
- Manish Dhawan
AVOID BUYING MOTILAL OSWAL FOR NOW.
Motilal Oswal Financial Services Ltd. is currently trading at Rs.595.05. Its 52-week high/low stand at Rs 1066.55/Rs 549.75 made on April 11, 2018 and October 26, 2018, respectively. After registering all-time high, the stock has been trading with lower tops and lower bottoms. Thereafter, since last six months, the stock is seen trading in a range of Rs 560 to Rs 700. At present, the stock is trading below its crucial long and short term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The volumes are low and oscillators are lying below 50, which depicts lack of momentum for now. The weekly MACD stays negative as it is trading below its signal line. Additionally, considering the weekly and daily time frame, the stock is trading below Ichimoku cloud, which depicts negative momentum. Hence, we suggest you to avoid buying Motilal Oswal Financial Services for now.
TATA MOTORS LTD
CMP: Rs. 170.60
BSE Code: 500570
Tata Motors is falling consistently. Is it the right time to enter for the short term?
- Rajesh Chauhan
AVOID BUYING TATA MOTORS FOR NOW.
Tata Motors Ltd. is currently trading at Rs.170.60. Its 52-week high/low stand at Rs 372.40/Rs 141.90 made on April 5, 2018 and February 8, 2019, respectively. The stock had formed reversal 'shooting star' pattern as on weekend of September 9, 2016, and thereafter, it has marked sequence of lower tops and lower bottoms along with relatively higher volumes. The major trend of the stock is negative as it is trading below its weekly pivot as well as all the short and long term moving averages. The leading indicator RSI is currently quoting at 42.53 and it is trading below its 9-day average, which depicts negative bias. The daily MACD stays negative as it is trading below its zero line since last seven trading sessions. The Ichimoku chart on the weekly time frame is also clearly giving negative view as the stock is trading much below its cloud. Additionally, the -DI is above the +DI and the ADX, which suggests negative strength in the stock. Hence, we suggest you to avoid buying Tata Motors for now.
REPCO HOME FINANCE LTD
CMP: Rs. 469.45
BSE Code: 535322
I have bought Repco Home Finance recently at Rs 355. Will the stock go up in the near term?
- Sham Bihari
HOLD WITH STOP LOSS OF RS 435 ON A CLOSING BASIS.
Repco Home Finance Ltd. is currently trading at Rs.469.45. Its 52-week high/low stand at Rs 653.45/Rs 292.50 made on April 30, 2018 and October 19, 2018 respectively. After witnessing a double bottom around Rs 308-Rs 310 in the month of February 2019, the stock has seen higher tops and higher bottoms since then. The major trend of the stock is positive as it is trading above its weekly pivot and above its short and long term moving averages. The 14-period RSI is currently quoting at 68.47, and it has recently given positive crossover. The fast stochastic line is also trading above it slow stochastic line. The other volume based indicators like OBV and Money Flow Index are also very strong. Moreover, the ADX and +DI is above the -DI, which indicates positive strength in the stock. In case the stock sustains above the downward sloping trendline resistance, which is currently placed at Rs 480, we may see the stock extending its upmove. Hence, we suggest you to hold Repco Home Finance with stop loss of Rs 435 on a closing basis.
BHARAT ELECTRONICS LTD
CMP: Rs. 92.45 BSE Code: 500049
I am holding shares of BEL bought at Rs 80 for the short term. What should I do now?
- Laxmichand Latasia
BOOK PROFIT AT THE CURRENT PRICE.
Bharat Electronics Ltd. is currently trading at Rs.92.45. Its 52-week high/low stand at Rs 149/Rs 72.55 made on April 12, 2018, and February 14, 2019, respectively. The stock had given a multiple touch point upward sloping trendline breakdown at Rs 166 as on weekend of February 2, 2018. Thereafter, it witnessed almost continuous downfall, where the stock hit below its major support level of Rs 90. Considering the weekly time frame, the stock had formed bullish harami pattern as on weekend of February 22, 2019, and bounced sharply along with relatively higher volumes. However, the stock had witnessed profit booking near the 200-day EMA, which coincides with the double top zone of Rs 99-Rs 97.30. With this, the stock had formed bearish reversal dark cloud cover pattern as on weekend of March 22, 2019, which suggests correction before another northward movement. The 14-period RSI has cooled off after touching overbought zone and a negative divergence is spotted recently, which suggests limited upside. Hence, we suggest you to book profit at the current price.
NATCO PHARMA LTD
CMP: Rs. 565.75 BSE Code: 524816
I have purchased shares of Natco Pharma at Rs 600, but the price turned down from that level. What to do now?
- Dr Ravi Pachaiyappan
EXIT AT THE CURRENT MARKET PRICE.
Natco Pharma Ltd. is currently trading at Rs. 565.75. Its 52-week high/low stand at Rs 849/Rs 557 made on September 12, 2018, and February 27, 2019, respectively. The stock had formed bearish three black crows pattern started as on weekend of January 25, 2018, and thereafter, it made sequence of lower tops and lower bottoms. At present, the stock is trading below its crucial long and short term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The lower volumes and oscillators still tilted southward point to some more downside for now. The weekly MACD stays bearish as it is trading below the zero line for the last 32 weeks. The Ichimoku on daily time frame is clearly giving a negative view as it closed below the KS and TS lines. Another important aspect is the KS line has crossed under the TS line, which is also a bearish sign. Hence, we suggest you to exit in Natco Pharma Ltd at the current market price.