Technical Portfolio Guide

MAS FINANCIAL SERVICES LTD
CMP: Rs929.15
BSE Code:540749

I have bought the shares of MAS Financial at higher levels? Please advise me, what should I do?

- Ednatej Pusuluri

EXIT IN MASFIN AT THE CURRENT MARKET PRICE MAS
Financial Services Ltd is currently trading at Rs 929.15. Its 52-week high/low stands at Rs 1,269/Rs 448.05 made on February 13, 2020, and March 26, 2020, respectively. The stock had formed a gravestone Doji candlestick pattern as on the weekend of February 14, 2020 and thereafter, witnessed almost 65 per cent correction in the next 6 weeks. After registering a low of Rs 443.95, the stock has marked the sequence of gradual higher tops & higher bottoms. However, the stock has resisted around the 78.6 per cent level of retracement level of its prior downward move and again entered into a corrective phase. Currently, the stock is trading below its weekly pivot and short-term moving averages. Among the momentum indicators, the 14-period weekly RSI has cooled off after touching the zone of 73 and at present, its reading is 56.65. The RSI is trading below its 9-week average and it is in a falling mode, which indicates a further downside momentum. The momentum is fading as the MACD histogram is declining for the last 3 weeks. Considering all the above factors, we recommend you to exit MAS Financial Services at the current market price. 

BRITANNIA INDUSTRIES LTD
CMP: Rs3,554.45
BSE Code:500825

Can I buy the shares of Britannia at the current levels for the short-term?

- Karthik Kumar

AVOID BUYING BRITANNIA INDUSTRIES FOR NOW
Britannia Industries Ltd is currently trading at Rs 3,554.45. Its 52-week high/low stands at Rs 4,015/Rs 2,100.55 made on July 21, 2020, and March 23, 2020, respectively. The stock had formed a dark cloud cover candlestick pattern as of July 21, 2020 and thereafter, marked the sequence of lower tops & lower bottoms. Recently, the stock has given an upward sloping trendline breakdown on the daily timeframe, which suggests a further bearish momen-tum. Currently, the stock is trading below its short and medium-term moving averages, i.e. 20-day EMA, 50-day EMA and 100-day EMA level. The leading indicator i.e. the 14-period daily RSI is in bearish territory and it is in a falling mode. The daily MACD stays bearish as it is trading below its zero line and signal line. The weekly stochastic is also suggesting a bearish momentum as the fast stochastic is trading below its slow stochastic line. Considering all the above factors, we recommend you to avoid buying Britannia Industries for now.

SUPRAJIT ENGINEERING LTD
CMP: Rs216.70
BSE Code:532509

Can I hold or book profit in Suprajit, which I bought at Rs 180 for the short-term?

- Omprakash Singh

HOLD SUPRAJIT WITH A STOP-LOSS OF RS 200 ON A CLOSING BASIS
Suprajit Engineering Ltd is currently trading at Rs 216.70. Its 52-week high/low stands at Rs 222.90/Rs 100 made on January 06, 2021, and March 25, 2020, respectively. The stock had formed a spinning top candlestick pattern as of March 27, 2020, and thereafter, marked the sequence of higher tops & higher bottoms. Recently, the stock has given a downward sloping trendline breakout on the daily timeframe, which suggests a further bullish momentum. This break-out is confirmed by a robust volume. Currently, the stock is meeting Daryl Guppy’s multiple moving averages set-up rules as it is trading above both, the short and long-term moving averages. Interestingly, the leading indicator, RSI has given a downward slopping channel breakout on the daily timeframe, which is a very bullish sign. The MACD line just crossed the signal line, and the histogram became green. On the daily timeframe, the ADX is 20.24 and suggests that the trend is yet to be developed. Directional indicators continue in the ‘buy’ mode as +DI continues above –DI. Hence, we recommend you to hold Suprajit Engineering with a stop-loss of Rs 200 on a closing basis.

VENKY’S (INDIA) LTD
CMP: Rs1,625.60
BSE Code:523261

I have bought 100 shares of Venky’s at Rs 1,150 for the long-term. What should I do now?

- Praveen Chandran Pranavam

BOOK PROFIT IN VENKY’S AT THE CURRENT MARKET PRICE
Venky’s (India) Ltd is currently trading at Rs 1,625.60. Its 52-week high/low stands at Rs 1,855/Rs 580 made on January 17, 2020 and March 24, 2020, respectively. The stock had formed a piercing line can-dlestick pattern as on March 27, 2020, and thereafter, marked the sequence of higher tops & higher bottoms. However, on the daily chart, the stock has formed Adam & Adam double top pattern, which indicates a correction before another northward rally. Along with this bearish formation, the stock has also managed to close below its short-term moving aver-ages, i.e. 20-day EMA and 50-day EMA level. Among the momentum indicators, the 14-period weekly RSI has cooled off after touching the zone of 70-71 and at present, its reading is 57.54. 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 in bearish territory. The stochastic has also given a bearish crossover on the weekly chart. Hence, we recommend you to book a profit in Venky’s (India) at the current market price.