Your Technical Portfolio Guide
TATA CONSULTANCY SERVICES LTD
CMP: Rs2087.65
BSE Code:532540
I have bought shares of TCS at Rs 1340, Should I hold or book profits?
- Manish S Mithbawkar
BOOK PROFIT IN TCS AT CURRENT MARKET PRICE. Tata Consultancy Services Ltd (TCS) is currently trading at Rs. 2087.65. Its 52-week high/low stands at Rs. 2296/Rs. 1784 made on September 03, 2019 and October 29, 2018, respectively. Considering the weekly time frame, the stock had recently formed reversal Three Black Crows candlestick pattern. This pattern usually indicates a weakness in an established uptrend and the potential emergence of a downtrend. The major trend of stock is negative as it is trading below its weekly pivot and short-long term moving averages, i.e. 20-day EMA, 50-day EMA and 100-day EMA. The 14-period weekly RSI has recently given breakdown of upward sloping trendline and it is currently quoting at 46.91, which depicts negative momentum. Meanwhile, the weekly MACD stays bearish as it is trading below its zero line. Furthermore, the negative divergence is clearly visible between weekly RSI, weekly stochastic and stock price movement, which suggests limited upside. Considering all above factors, we recommend you to book profit in TCS at current market price.
RAMCO SYSTEMS FOR NOW..
CMP: Rs170.35
BSE Code: 532370
Can I buy Ramco System as it has fallen tremendously?
- Shambhu Shekhar
AVOID BUYINGRamco Systems Ltd is currently trading at Rs. 170.35.Its 52-week high/low stands at Rs. 334.80/Rs. 161.35 made on September 28, 2018 and August 23, 2019, respectively. The stock had given a breakdown of upward sloping trendline support as on January 08, 2016 and thereafter it has marked a sequence of lower tops and lower bottoms. The major trend of the stock is bearish as it is trading below its weekly pivot and short-long term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-Week EMA. Considering its weekly chart, the stock has been continuously trading below its 200-week EMA level from May 2019. The 14-period weekly RSI is currently quoting at 33.28 and it has not able to cross 60 mark since January 2018. Meanwhile, the weekly MACD stays bearish as it is trading below both its zero line and signal line. Considering all above factors, we recommend you to avoid buying Ramco Systems for now.
BLUE STAR LTD
CMP: Rs797.85
BSE Code: 500067
Blue Star looks promising for now. Can I enter the scrip now?
- Sumantha
Y J BUY BLUE STAR ONLY ABOVE RS. 850 ON CLOSING BASIS. Blue Star ltd is currently trading at Rs. 797.85. Its 52-week high/low stands at Rs. 834.15/ Rs. 507.30 made on September 20, 2019 and October 23, 2018, respectively. After registering an all time high of Rs. 844.30 in 2014, the stock has been witnessing correction. The correction is halted near 50 per cent Fibonacci retracement level of its previous upward move that started form February 2014 to its all time high level. Considering the weekly time frame, the stock is trading in Ascending Triangle pattern since December 2017. The major trend of the stock is bullish as it is trading above its weekly pivot and above its long-short term moving averages, i.e. 20-week, 50-week, 100-week and 200-week EMAs and these moving averages are exactly in an ascending order, which suggests that the trend is quite strong. The leading indicator, 14-period weekly RSI is currently quoting at 60.98 and it is in bullish zone. The daily MACD is above the zero line and signal line. The histogram is also suggesting that the momentum is picking up. However, for any further upside, the stock needs to form sizeable bullish candle above the upper trendline of Ascending Triangle pattern along with a decent volume. Hence, we recommend you to buy Blue star only above Rs. 850 on closing basis.
SIEMENS LTD
CMP:Rs 1493.70
BSE Code: 500550
I have bought shares of Siemens at Rs 1165, Should I hold or book profits?
- Arijit Guin
HOLD SIEMENS WITH A STOPLOSS OF RS. 1335 ON CLOSING BASIS. Siemens Ltd is currently trading at Rs. 1493.70. Its 52-week high/low stands at Rs. 1498.75/Rs. 841 made on September 26, 2019 and October 22, 2018, respectively. Considering the weekly time frame, the stock is trading in downward sloping channel since August 2015. In the current week, the stock had given breakout of downward sloping channel along with strong volumes. The major trend of the stock is bullish as it is trading above its weekly pivot and above its short-long term moving averages, i.e. 20-day, 50-day, 100-day and 200-day EMAs. The 14-period daily RSI is currently quoting at 82.66 and it is in super bullish zone. Meanwhile, the daily MACD stays bullish as it is trading above both its zero line and signal line. The histogram is suggesting that the upside momentum is picking up. Moreover, the daily ADX is very strong at 43.37. The -DI is much below the +DI and ADX is above the -DI. This indicates the strong momentum in the stock. Considering all above factors, we recommend you to hold Siemens with a stoploss of Rs. 1335 on closing basis.