Technical Portfolio Guide
AARTI INDUSTRIES LTD
CMP: Rs1,007.50
BSE Code:524208
I have bought 30 shares of Aarti Industries at Rs 850 for a short-term. Should I wait or exit with profits?
- Victor Ekka
BOOK PROFIT IN AARTI INDUSTRIES AT THE CURRENT MARKET PRICE
Aarti industries Ltd is currently trading at Rs 1,007.50. Its 52-week high/low stands at Rs 1,191.50/Rs 662.05 made on May 5, 2020 and March 23, 2020 respectively. After registering a high of Rs 1,071, the stock has witnessed a correction. The correction is halted near the horizontal trendline support and thereafter, it bounced sharply up to its all-time high level. Recently, the stock has formed a reversal bearish pin bar candlestick pattern as on weekend of May 8, 2020. Along with this bearish formation, the stock has managed to close below its weekly pivot and short-term moving averages, i.e. 13-day EMA and 20-day EMA. Among the momentum indicators, the 14-period daily RSI has cooled off after touching the zone of 75 and at present, its reading is 51.96. The RSI is trading below its nine-day average and it is in a 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 the downside momentum. Hence, we recommend you to book profit in Aarti Industries at the current market price.
RAMCO SYSTEMS LTD
CMP: Rs69
BSE Code:532370
Can I enter Ramco Systems for medium-term as it has fallen considerably?
- Vickraman Sattanthan
AVOID BUYING RAMCO SYSTEMS FOR NOW
Ramco Systems Ltd is currently trading at Rs 69. Its 52-week high/low stands at Rs 246/Rs 64.10 made on June 6, 2019 and May 21, 2020 respectively. The stock has formed a reversal long-legged doji candlestick pattern as on weekend of August 7, 2015 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 short and long-term moving averages, that is, 20-week EMA, 50-week EMA, 100-week EMA and 200-week EMA. The leading indicator, 14-period weekly RSI, is in a super bearish zone and it was not able to cross 60 mark since February 2020. On the weekly chart, the MACD is below zero line for 11 weeks as well as below the signal line for 12 weeks. On the direction index, the bearish strength is still higher than the bullish strength as +DI is much below -DI. Considering all the above factors, we recommend you to avoid buying Ramco Systems for now.
INDIA CEMENTS LTD
CMP: Rs126.45
BSE Code:530005
I am holding shares of India cement for short-term bought at Rs 85. Should I hold or book profit?
- Balamurugan Subbiah
HOLD INDIA CEMENT WITH A STOP-LOSS OF RS 108 ON CLOSING BASIS
India cement Ltd is currently trading at Rs 126.45. Its 52-week high/low stands at Rs 128.45/Rs 67.90 made on May 21, 2020 and August 23, 2019 respectively. The stock has given a neckline breakout of triple bottom pattern as on weekend of February 28, 2020 and thereafter, bounced gradually up to its 52-week high. Recently, the stock has given a downward sloping trendline breakout on the daily time frame. This breakout is confirmed by above the 50-day average volume. 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. The weekly and daily RSI is in a bullish zone. The daily and weekly MACD stays bullish as it is trading above its zero line and signal line. The daily histogram is suggesting a pickup in the upside momentum. The daily ADX is very strong at 29.51. The -DI is much below +DI whereas, ADX is above -DI. This shows a technical strength in the stock. Considering all the above factors, we recommend you to hold India Cement with a stop-loss of Rs 108 on closing basis.
APCOTEX INDUSTRIES LTD
CMP: Rs96.55
BSE Code:523694
I wish to buy Apcotex Industries for a long-term. Can I enter?
- Dhananjay Dadape
AVOID BUYING APCOTEX INDUSTRIES FOR NOW
Apcotex Industries Ltd is currently trading at Rs 96.55. Its 52-week high/low stands at Rs 244.95/Rs 64.35 made on July 4, 2019 and March 24, 2020 respectively. The stock has formed a spinning top candlestick pattern as on weekend of September 21, 2018 and thereafter, marked the sequence of lower tops and lower bottoms. Recently, the stock has witnessed a pullback rally which is halted near 50 per cent retracement level of its prior downward move (Rs 179.90-Rs 63) and coincides with 20-week EMA level. Currently, the stock is trading below its long and shortterm moving averages. After looking at the daily chart, it has been continuously trading below its 200-day EMA level since September 2019. The weekly RSI is in a super bearish zone and is not able to cross 60 mark since July 2019. The stochastic oscillator is also suggesting a bearish momentum as per cent K is below the per cent D. Considering all the above factors, we recommend you to avoid buying Apcotex Industries for now.