Your Technical Portfolio Guide
CREDITACCESS GRAMEEN LTD
CMP: Rs. 457.75
BSE Code: 541770
I am holding shares of Credit Access bought at a breakout @ Rs 415. The stock went up, but I could not sell. What should I do now?
- Nishigandha Gokhale
BOOK PROFIT AT THE CURRENT MARKET PRICE.
CreditAccess Grameen Ltd. is currently trading at Rs.457.75. Its 52-week high/low stand at Rs 566.45/Rs 245.75 made on April 4, 2019 and October 26, 2018 respectively. The stock had formed one white soldier pattern as on weekend of November 2, 2018 and thereby, surged making higher tops and higher bottoms till 52-week high. Recently, the stock had formed matching high candlestick pattern as on weekend of May 10, 2019, which is bearish in nature. The short term trend is negative as it is trading below its weekly pivot and short term moving averages. The leading indicator RSI is currently quoting at 39.66, which depicts further negative momentum. The daily MACD stays negative as it is trading below the zero line and signal line. Moreover, the Ichimoku chart on the daily time frame is clearly giving a negative view, as it is trading below the KS and TS lines. Considering all above factors, we suggest you to book profit at the current market price.
HEXAWARE TECHNOLOGIES LTD
CMP: Rs. 352.10
BSE Code: 532129
Can I buy Hexaware at CMP for the short term?
- Kirit R Gheewala
BUY HEXAWARE ONLY ABOVE RS 360 ON A CLOSING BASIS.
Hexaware Technologies Ltd. is currently trading at Rs.352.10. Its 52-week high/low stand at Rs 557.40/Rs 294.80 made on July 9, 2018 and November 26, 2018, respectively. After registering its 52-week low, the stock is trading in the range of Rs 300-Rs 374 since last six months. Due to the narrow range, the Bollinger Bands have contracted on the weekly scale, which indicates an early signal of a bigger move. At present, the stock is hovering around downward sloping trendline resistance. The short term trend of the stock is bullish as it is trading above its weekly pivot and short term moving averages. Among the momentum indicators, the 14-period RSI and stochastic have recently given positive crossover, which is positive for the stock. Moreover, the daily MACD stays positive as it is trading above its zero line. However, for further upside, the stock needs to form a sizeable bullish candle above the downward sloping trendline resistance, which is currently placed at Rs 360. Hence, we suggest you to buy Hexaware only above Rs 360 on a closing basis.
CLARIANT CHEMICALS (INDIA) LTD
CMP: Rs. 294.35
BSE Code: 506390
Can I buy Clariant Chemicals as it has fallen tremendously?
- Abhishek Desai
AVOID BUYING CLARIANT CHEM FOR NOW.
Clariant Chemicals (India) Ltd. is currently trading at Rs.294.35. Its 52-week high/low stand at Rs 538.80/Rs 292.25 made on Sept 03, 2018 and May 16, 2019, respectively. After registering its all-time high, the stock was seen tumbling with lower tops and lower bottoms. The major trend of the stock is bearish as it is trading below its weekly pivot and below its long-short term moving averages, i.e. 20-week, 50-week, 100-week and 200-week. The poor volumes and oscillators still tilted southward point to some more downside for now. The ADX is currently quoting at 37.10. The -DI is much above the +DI and ADX is above the -DI and +DI. This indicates negative strength in the stock. Additionally, the stock is trading below its weekly Ichimoku cloud and Bollinger band average. Considering all the above factors, we suggest you to avoid buying Clariant Chem for now.
PURAVANKARA LTD
CMP: Rs. 68
BSE Code: 532891
I had bought Puravankara at Rs 71, considering it to have bottomed out. Now what to do?
- Pravin Jabade
EXIT AT THE CURRENT MARKET PRICE.
Puravankara Ltd. is currently trading at Rs.68. Its 52-week high/low stand at Rs 136.30/ Rs 53.20 made on May 17, 2018 and October 1, 2018, respectively. The stock had formed reversal spinning top pattern as on weekend of April 27, 2018 and, thereafter, it tumbled sharply till its 52-week low. The stock has recently given breakdown of 33-week symmetrical triangle pattern, which indicates further downward momentum. The 14-period weekly RSI is currently quoting at 39.55 level and it is trading below its 9-week average. The fast stochastic is also trading below its slow stochastic line. Additionally, the Ichimoku chart on the weekly time frame is clearly giving a negative view as it is trading below the KS and TS lines. Another important aspect is the TS line has crossed under the KS line, which is also a bearish sign. Considering all the above factors, we suggest you to exit Purvankara at the current market price.