Technical Portfolio Guide
ADVANCED ENZYME TECHNOLOGIES LTD
CMP: Rs106.15
BSE Code:540025
Advanced Enzyme fundamentally looks interesting and it is also trading near its all-time low, can I enter now?
- Kunal Kumar
AVOID BUYING ADVANCED ENZYME TECHNOLOGIES FOR NOW
Advanced Enzyme Technologies Ltd is currently trading at Rs 106.15. Its 52-week high/low stand at Rs 225/Rs 91.05 made on June 6, 2019 and March 23, 2020 respectively. The stock had formed a reversal doji candlestick pattern as on weekend of October 30, 2016 and thereafter, it has marked the sequence of lower tops and lower bottoms. The stock is trading below its weekly pivot and long and short-term moving averages. The leading indicator, 14-period weekly RSI, is currently quoting at 27.46 and it is in a super bearish zone. The weekly RSI is not able to cross 60-mark since November 2019. The weekly and daily MACD stays bearish as it is trading below its zero line and signal line. The weekly histogram is suggesting that the downside momentum is picking up. On the daily and weekly directional index, the bearish strength is higher than the bullish strength as +DI is much below the -DI. Hence, we recommend you to avoid buying Advanced Enzyme Technologies for now.
IPCA LABORATORIES LTD
CMP: Rs 1,293.45
BSE Code:524494
I bought 200 shares of IPCA LAB at Rs 1,290. After my purchase, the stock is trading in range and it’s hovering around my purchase price. So, what should I do now? - Ankit Gothi
HOLD IPCA LABORATORIES WITH A STOP-LOSS OF RS 1,200 ON CLOSING BASIS
Ipca Laboratories Ltd is currently trading at Rs 1,293.45. Its 52-week high/low stand at Rs 1,615.70/Rs 844.20 made on March 23, 2020 and October 10, 2019 respectively. The stock had given a horizontal trendline breakout as on weekend of February 23, 2018 and thereafter, marked the sequence of higher tops and higher bottoms. Currently, the stock has been moving into sideways phase since the last seven weeks. This can be considered as a time consolidation after a sharp upward move. The major trend of the stock is bullish as it is trading above its long and short-term moving averages, that is, 20-week, 50-week, 100-week and 200-week EMAs. These moving averages are exactly in an ascending order, suggesting a strong trend. The leading indicator, 14-period weekly RSI, is currently quoting at 56.34 and it is in a bullish zone. The weekly MACD stays bullish as it is trading above its zero line and signal line. The weekly ADX is very strong at 51.98. The -DI is below the +DI and ADX is above the -DI and +DI. This shows a technical strength in the stock. Hence, we recommend you to hold Ipca Laboratories with a stop-loss of Rs 1,200 on closing basis.
HEIDELBERGCEMENT INDIA LTD
CMP: Rs146.80
BSE Code:500292
I am holding Heidelberg Cement bought at Rs 160. What to do now? - Paras Mehta
EXIT HEIDELBERG AT CURRENT MARKET PRICE
Heidelberg Cement India Ltd is currently trading at Rs 146.80. Its 52-week high/low stand at Rs 217.80/Rs 120 made on February 27, 2020 and March 23, 2020 respectively. The stock has given a neckline breakdown of Adam & Adam double top pattern as on weekend of March 13, 2020 and thereafter, it has witnessed lower tops and lower bottoms. Currently, the major trend of the stock is bearish as it is trading below its weekly pivot and below its long and shortterm moving averages, i.e. 20-week, 50-week, 100-week and 200-week EMAs. The leading indicator, 14-period weekly RSI, is in a super bearish zone. The weekly fast stochastic is also trading below its slow stochastic line. Recently, the momentum indicator-weekly MACD line has crossed under the signal line, which resulted in the histogram turning negative. Considering all the above factors, we recommend you to exit in Heidelberg Cement at current market price.
CEAT LTD
CMP:Rs 659.00
BSE Code:500878
Taking into consideration, the recent plunge in crude oil prices, tyre industry looks promising. So, can I enter CEAT now?
- S. Jaishankar
AVOID BUYING CEAT FOR NOW
CEAT Ltd is currently trading at Rs 659. Its 52-week high/low stand at Rs 1,152/Rs 601.50 made on April 1, 2019 and March 24, 2020 respectively. The stock had given A breakdown of bump and run reversal pattern as on weekend of February 2, 2018 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. Among the momentum indicators, the 14-period weekly RSI, is currently quoting at 24.03 and it is in a super bearish zone. The RSI is trading below its nine-week average and it is in falling mode, which indicates a further downside momentum. The stochastic oscillator’s per cent K is trading below the per cent D on the weekly chart. Moreover, the weekly MACD stays bearish, as it is trading below its zero line and signal line. Hence, we recommend you to avoid buying CEAT Ltd for now.