Technical Portfolio Guide
GIC HOUSING FINANCE LTD
CMP: Rs71.05
BSE Code:511676
GICHSGFIN is trading near its 52-week low, can I enter now?
- Dk Verma
AVOID BUYING GIC HOUSING FINANCE FOR NOW
GIC Housing Finance Ltd is currently trading at Rs 71.05. Its 52-week high/low stand at Rs 281.90/Rs 67.45 made on July 5, 2019 and March 12, 2020 respectively. The stock has formed a reversal bearish engulfing candlestick pattern as on weekend of June 23, 2017 and thereafter, marked the sequence of lower tops and lower bottoms. Majorly, the stock is displaying a bearish trend as it is trading below its weekly pivot and short and long-term moving averages, that is, 20-week EMA, 50-week EMA, 100-week EMA and 200-Week EMA. After looking at the daily chart, it can be said that it has been continuously trading below its 200-day SMA level from July 2019. The leading indicator, 14-period weekly RSI is currently quoting at 18.91 and it is in super bearish zone. The weekly RSI is not able to cross 60-mark since September 2017. The daily and weekly MACD stays bearish as it is trading below its zero line and signal line. Considering all the above factors, we recommend you to avoid buying GIC Housing Finance for now.
BAJAJ FINSERV LTD
CMP: Rs7437.45
BSE Code 532978
I have bought shares of Bajaj Finserv at Rs 7,300 after breakout, should I hold or book profits?
- Ajay Sood
BOOK PROFIT IN BAJAJ FINSERV AT CURRENT MARKET PRICE
Bajaj Finserv Ltd is currently trading at Rs 7437.45. Its 52-week high/low stand at Rs 10,297/Rs 6,588.80 made on December 18, 2019 and August 23, 2019 respectively. The stock had formed reversal Three Black Crows candlestick pattern as on February 1, 2020 and thereafter, entered into the corrective phase. Currently, the stock is trading below its short and long-term moving averages, i.e. 20-day EMA, 50-day EMA, 100-day EMA and 200-day EMA. The leading indicator, 14-period daily RSI is currently quoting at 18.13 and it is in super bearish zone. The weekly RSI is also trading below its nine-week average and it is in falling mode, which indicates a further downside momentum. The daily MACD stays bearish as it is trading below its zero line and signal line. The histogram is suggesting the bearish momentum. On the directional index, the bearish strength is higher than the bullish strength as +DI is much below the -DI. Considering all the above factors, we recommend you to book profit in Bajaj Finserv at current market price.
SHIVA TEXYARN LTD
CMP: Rs69.45
BSE Code:511108
I am holding Shiva Texyarn Ltd bought at Rs 127 in November, expecting it to bounce back, but it fell more. What should I do?
- Amitabh Bhasin
EXIT IN SHIVA TEXYARN AT CURRENT MARKET PRICE
Shiva Texyarn Ltd is currently trading at Rs 69.45. Its 52-week high/low stand at Rs 194.75/Rs 63.20 made on May 20, 2019 and March 12, 2020 respectively. The stock had formed a reversal Doji candlestick pattern as on weekend of January 19, 2018 and thereafter, marked the sequence of lower tops and lower bottoms. Recently, the stock has slipped below its horizontal support of Rs 80, which indicates a further downside momentum. The major trend of the stock is bearish as it is trading below its weekly pivot and below its long and short-term moving averages, i.e. 20-day, 50-day, 100-day and 200-day EMAs. The leading indicator, 14-period daily RSI is currently quoting at 23.76 and it is in super bearish zone. The daily MACD stays bearish as it is trading below its zero line and signal line. The weekly fast stochastic is also trading below its slow stochastic line. Considering all the above factors, we recommend you to exit in Shiva Texyarn at current market price.
APOLLO HOSPITALS ENTERPRISE LTD
CMP: Rs1515
BSE Code:508869
I am holding Apollo Hospitals at Rs 1,450. Should I hold or book profit?
- Suresh Kumar Sharma
BOOK PROFIT IN APOLLOHOSP AT CURRENT MAKRET PRICE
Apollo Hospitals Enterprise Ltd is currently trading at Rs 1515. Its 52-week high/low stand at Rs 1,814/Rs 1,093 made on February 2, 2020 and March 13, 2019 respectively. The stock had given a breakout of downward sloping trendline as on weekend of January 17, 2020 and thereafter, bounced sharply up to its all-time high level. Considering the weekly time frame, the stock had recently formed a reversal Three Inside Down candlestick pattern, which suggests correction before another northward rally. Along with this bearish formation, the stock has also managed to close below its weekly pivot and short-term moving averages, i.e. 20-day EMA, 50-day EMA and 100-day EMA. Among the momentum indicators, the 14-period daily RSI has cooled off after touching the 75 zone and, at present, its reading is 27.23. The RSI is trading below its nine-day average and it is in falling mode, which indicates a further downside momentum. The daily MACD stays bearish as it is trading below its zero line and the histogram is suggesting a pickup in downside momentum. Considering all the above factors, we recommend you to book profit in Apollo Hospitals Enterprise at current market price.