Your Technical Portfolio Guide
SUPREME INDUSTRIES LTD.
CMP: Rs1205.05
BSE Code: 509930
I have bought 30 shares of Supreme Industries @ Rs 1050. The stock is currently trading at Rs 1195. Is it a stock to hold for the long term for better returns (6 months) or would it be better to sell?
- Gaurav Kaushik
HOLD SUPREME INDUSTRIES WITH A STOPLOSS OF RS. 1130 ON CLOSING BASIS.
Supreme Industries Ltd is currently trading at Rs. 1205.05. Its 52-week high/low stands at Rs. 1246/Rs. 935.85 made on September 27, 2019 and December 10, 2018, respectively. The stock had formed Bearish Belt Hold candlestick pattern as on weekend of January 25, 2018, and thereafter, witness a correction. The correction is halted in between 50 per cent and 61.8 per cent retracement of the upward rally from Rs. 520 to its all time high level and it is coincides with the 20-week EMA level. Recently, the stock had given downward sloping trendline breakout along with relatively higher volumes, which indicates further upward momentum. With this trendline breakout, the weekly ADX, which shows the strength of the trend, turned upside and moved above the -DI. The stock is trading above all the short and long term moving averages. The 14 period RSI at 62.24 on a weekly chart shows bullish momentum. The weekly MACD is also trading above its zero and signal lines. The histogram is suggesting a pickup in upside momentum. Considering all above factors, we recommend you to hold Supreme Industries with a stoploss of Rs. 1130 on closing basis as it is the confluence of 50-day EMA and upward sloping trendline support.
INDIAN HOTELS CO. LTD.
CMP: Rs154.15
BSE Code:500850
I have bought shares INDHOTEL after breakout at Rs 140, Should I hold or book profits? - Abhay Pimpale
BOOK PROFIT IN INDIAN HOTELS AT CURRENT MARKET PRICE.
Indian Hotels Co. Ltd. is currently trading at Rs. 154.15. Its 52-week high/low stands at Rs. 164.10/Rs. 110 made on June 26, 2019 and October 09, 2018, respectively. The stock is trading in rising channel since January 2014. Near the lower trendline of rising channel, the stock had formed reversal Hammer candlestick pattern as on weekend of August 23, 2019, and thereafter bounced sharply. Considering the daily time frame, on October 01, 2019, the stock formed reversal Bearish engulfing candlestick pattern. Along with this bearish formation, the stock has also closed below its weekly pivot. Among the momentum indicators, the 14-period daily RSI has cooled off after touching overbought zone and at present, its reading is 61.31. The RSI is trading below its 9-day average and it is in a falling mode, which indicates further downside momentum. The stochastic oscillator is also suggesting some bearish momentum as %K is below the %D. Considering all above factors, we recommend you to book profit in Indian Hotels at current market price.
ZEE ENTERTAINMENT ENTERPRISES LTD
CMP: Rs251.40
BSE Code: 505537
Can I enter in ZEEL for Medium term as it has fallen considerably? - Harish Kapoor
AVOID BUYING ZEEL FOR NOW.
Zee Entertainment Enterprises Ltd. is currently trading at Rs. 251.40. Its 52-week high/ low stands at Rs. 506.10/Rs. 211.80 made on December 17, 2018 and October 01, 2019, respectively. The stock had given breakdown of Rounding Top patterns as on weekend of September 07, 2018 and thereafter marked a sequence of lower tops and lower bottoms. Recently, the stock had given breakdown of upward sloping trendline on weekly scale and tumbled sharply. The major trend of stock is negative as it is trading below its weekly pivot and short to long term moving averages, i.e. 20-week EMA, 50-week EMA, 100-week EMA and 200-Week EMA. The 14-period weekly RSI has recently given breakdown of upward sloping trendline and it is currently quoting at 30.77, which depicts negative momentum. The weekly MACD line has crossed under the signal line, which resulted in the histogram turning negative. Also, the volumes are support the falling prices and other oscillators are inclined southwards, which suggests more downside from the current levels. Hence, we recommend you to avoid buying ZEEL for now.
GUJARAT MINERAL DEVE. CORP. LTD
CMP: 61
BSE Code: 532181
I am holding GMDCLTD bought at Rs 75 in July, expecting it to bounce back, but it fell more. What should I do?
- Vishnu raghavan
EXIT GMDCLTD AT CURRENT MARKET PRICE.
Gujarat Mineral Development Corporation Ltd. is currently trading at Rs. 61. Its 52-week high/low stands at Rs. 100.35/Rs. 59.35 made on October 16, 2018 and August 23, 2019, respectively. The stock had given breakdown of upward sloping trendline support as on weekend of February 02, 2018 and thereafter marked a sequence of lower tops and lower bottoms. Currently, the stock is trading below its 20-week EMA (68.80), 50-week EMA (79.40), 100-week EMA (92.35) and 200-week EMA (103.05), which indicates a downtrend in medium to long term period. On the daily chart, it has been continuously trading below its 200-day EMA level from April 2018. The poor volumes and oscillators lying below 50 depict lack of momentum in the stock. The 14-period weekly RSI is currently quoting at 31.69 and it is not able to cross the 60 mark since January 2018. Considering all above factors, we recommend you to exit GMDCLTD at current market price.