Technical Portfolio Guide
JK TYRE & INDUSTRIES LTD
CMP: Rs139.80
BSE Code:530007
I'm holding 340 shares of JK Tyre at an average price of Rs 130. Should I continue to hold or exit at the current levels?
- Hridesh Kumar Yadav
KEEP STOP-LOSS OF RS 118
The stock is near your buy price. It is forming a cup pattern for the last 20 weeks with a depth of 32.58 per cent. Its pivot is at Rs 146.7. However, Wednesday's price action has given suspicion about its moving above the pivot. On Tuesday, it formed a long-legged small body candle, followed by a bearish engulfing, which is not a good sign. The stock is well above the short and medium-term moving averages, and all the averages are trending up. The momentum is almost neutral. The RSI is com-ing out of an overbought condition. The ADX shows that its trend strength is strong. The positive directional indicator is flattened and is indicating a neutral direction. As the overall market condition is suddenly sending weaker signs, the stock is also witnessing selling pressure. Keep a stop-loss at Rs 118. In a bull case scenario, a move above Rs 142.45 would result in a cup pattern breakout, and the targets are open to Rs 179
SNOWMAN LOGISTICS LTD
CMP: Rs58.00
BSE Code:538635
I entered Snowman Logistics at Rs 58 almost a couple of weeks back. Is this a good stock to hold?
- Rajiv B
MAINTAIN A STOP-LOSS OF RS 49
You might have bought this stock recently. Because of COVID vaccine transportation, the logistics stocks are buzzing. Technically, it has resistance at Rs 57-Rs 59 zone. For the past five days, the stock is trading in a tight range around the resistance zone. All the five days, it formed bearish candles. The stock is trading above the short and long-term averages. The MACD shows bullish momentum. The Elder impulse system shows a bullish price structure. The stock is also trading above the anchored VWAP decisively. However, the relative price strength is weaker. Price is not showing any weakness but is indecisive about moving higher as the resistance is stronger. Maintain a stop-loss at Rs 49. A move above Rs 59 is a big positive for the stock. The short-term target is placed at Rs 66 while the medium target is at Rs 80.
SBI LIFE INSURANCE COMPANY LTD
CMP: Rs997.35
BSE Code:540719
I have the stock of SBI Life Insurance in my portfolio for a long time. It's currently trading near my acquisition cost. What's the prospect of this stock in the long term?
- Dr GG Saxena
A MOVE ABOVE RS 1,020-RS 1,030 WOULD RESULT IN A BIG BREAKOUT
You might have bought this stock in Jan-Feb 2020. Currently, the stock is trading near the pivot level. It is moving higher with higher highs & higher lows on the weekly chart. The ADX (28.58) shows stronger trend strength. The RSI is in a bullish zone while the weekly MACD line is above the signal line and zero lines. The daily MACD is about to give a buy signal. For the past few days, the stock is oscillating around the 20-DMA. The 50-DMA is trending up, which is a positive sign. The Elder impulse system shows a neutral to bullish price structure. Pring's KST is also showing a bullish crossover. In short, the stock is about to make a breakout of the five-week tight range. A move above Rs 1,020-Rs 1,030 zones would result in a big breakout for the stock. Above this zone, the short-term target is at Rs 1,215 while the medium-term target is at Rs 1,400.
ITD CEMENTATION INDIA LTD
CMP: Rs84.95
BSE Code:509496
I'm planning to buy ITD Cementation. Is it a good stock to add to the portfolio?
- Krishna kumar koganti
BUY ABOVE RS 90 WITH A STOP-LOSS OF RS 69
The stock declined over 88 per cent from its high of 2017. Since the low of last March, the stock is moving in a staircase manner. It is facing a resistance at 38.2 retracement level of the previous big fall. It is also forming a cup & handle pattern for the last 13 weeks. The stock is above the short and long-term averages. The 20-DMA is working as critical support for now. The daily MACD has given a fresh buy signal. The weekly and the daily RSI is in a bullish zone. For the past five weeks, volume recording is above average. The Elder impulse system is showing a bullish price structure, and the stock is above the anchored VWAP. A close above Rs 90 will be a handle breakout. Above this, the stock can test Rs 112 in the short-term and Rs 138 in the medium term. Maintain a stop-loss at Rs 69.