Technical Portfolio Guide

CHENNAI PETROLEUM CORPORATION LTD

CMP :Rs95.70
BSE Code :500110

I have bought the shares of Chennai Petro at an average price of Rs 125. Now the stock is trading at Rs 92.  Please suggest what should I do.
- Jayendra N Bandyopadhyay

EXIT IN CHENNPETRO AT THE CURRENT MARKET PRICE
Chennai Petroleum Corporation Ltd is currently trading at Rs 95.70. Its 52-week high/lowstands at Rs 132.55/Rs 47.70 made on January 13, 2021 and May 27, 2020, respectively. The stock has given a downward sloping trendline breakout as of November 23, 2020 and thereafter, witnessed over 58 per cent sharp upward momentum. However, after registering the high of Rs 132.65, the stock has witnessed a correction. During this corrective phase, the stock has given a breakdown of upward sloping trendline support. Further, it also slipped below its crucial moving averages, i.e. the 20-day EMA, 50-day EMA, 100-day EMA and 200-day EMA level, which is a bearish sign. Among the momentum indicators, the weekly RSI has cooled off after touching the level of 73.80, and currently, it is quoting at 51.41. The RSI is trading below its 9-week average and it is in a falling mode, which indicates a further downside momentum. The daily RSI is also in bearish territory. The MACD stays bearish as it is trading below its zero line and signal line. The histogram is suggesting a pickup in the downside momentum. Hence, we recommend you to exit in Chennai Petroleum Corporation at the current market price. 

ZEE ENTERTAINMENT ENTERPRISES LTD

CMP : Rs249.40
BSE Code : 505537

I am holding 80 shares of ZEEL at an average price of Rs 170. What should I do next, hold or sell?
- Bholananda Bhowmik

HOLD ZEEL WITH A STOP-LOSS OF RS 210 ON A CLOSING BASIS.
Zee Entertainment Enterprises Ltd is currently trading at Rs 249.40. Its 52-week high/low stands at Rs 261.00/Rs 114 made on February 04, 2021 and March 25, 2020, respectively. Considering the week-ly chart, after registering a low of Rs 114, the stock is marking the sequence of gradual higher tops & higher bottoms. Recently, the stock has given a symmetrical triangle pattern breakout on the daily chart, which is a sign of trend continu-ation. The stock is currently trading above its short and long-term moving averages. These moving averages are exactly in the desired sequence, which suggests that the trend is strong. Interestingly, the weekly RSI has sustained above the mark of 60-61 mark after a span of over two years, which is a bullish sign. The daily RSI is also in a bullish zone and it is in a rising mode. On the daily chart, the momentum indicator, MACD line has crossed above the signal line, which resulted in the histogram turning positive. Considering all the above factors, we recommend you to hold Zee Entertainment Enterprises with a stop-loss of Rs 210 on a closing basis.

EPL LTD

CMP : Rs220 
BSE Code : 500135

Shall I enter EPL for the short-term as it has fallen drastically in the last couple of weeks?
- Kamal sandeep Gadam

AVOID BUYING EPL FOR NOW
EPL Ltd is currently trading at Rs 220. Its 52-week high/low stands at Rs 318.75/Rs 130.05 made on August 21, 2020 and March 23, 2020, respectively. The stock has formed a shooting star candlestick pattern as of August 21, 2020 and thereafter, entered into a corrective phase. During this corrective phase, the stock has formed three lower tops, which is a bearish sign. Currently, the stock is trading below its crucial short and long-term mov-ing averages. These moving averages are in a falling mode. The leading indicator i.e. the weekly RSI is currently quoting at 23.61 and it is in a falling mode. The daily RSI is also in a bearish territory, which is a bearish sign. The fast stochastic is also trading below its slow stochastic line on both the weekly and the daily chart. Further, the lagging indicator, MACD stays bearish on both the weekly and the daily timeframe as it is trading below its signal line and zero line. Considering all the above factors, we recommend you to avoid buying EPL Ltd for now. 

ASTRAL POLY TECHNIK LTD

CMP : Rs2063.20
BSE Code : 532830

I have bought the shares of Astral Poly Technik at Rs 1,040. What should I do next? Also, please suggest revised stop-loss.
- Gagan Chopra

HOLD ASTRAL WITH A STOP-LOSS OF RS 1,600 ON A CLOSING BASIS
Astral Poly Technik Ltd is currently trading at Rs 2063.20. Its 52-week high/low stands at Rs 2,099.85/Rs 747.60 made on February 03, 2021 and March 25, 2020, respectively. From the low of Rs 745.65, which was registered on March 23, 2020, the stock has maintained its rhythm of higher highs & higher lows. Currently, Daryl Guppy’s multiple moving averages are suggesting a bullish strength in the stock. The stock is trading above all the 12 short and long-term moving averages. The averages are all trending up and they are in the desired sequence. Further, the stock is meeting Mark Minervini’s trend template rules. These two set-ups are giving a clear uptrend picture in the stock. The weekly RSI is above the 60 mark for the last 13 weeks. The daily RSI is also in a super bullish range and it is in a rising mode. On the weekly chart, the MACD is above zero line for 10 weeks and above the signal line for 26 weeks. The ADX is very strong at 26.24. The -DI is much below the +DI and ADX is above the -DI. This shows the technical strength in the stock. Hence, we recommend you to hold Astral Poly Technik with a stop-loss of Rs 1,600 on a closing basis.