Technical Portfolio Guide
LUPIN LTD
CMP: Rs896
BSE Code:500257
I have bought shares of Lupin at Rs 780 for the short-term. Should I hold or book profits?
-Jatinder shingare
BOOK PROFIT IN LUPIN AT THE CURRENT MARKET PRICE
Lupin Ltd is currently trading at Rs 896. Its 52-week high/low stands at Rs 955.85/Rs 505 made on June 15, 2020 and March 13, 2020, respectively. After registering the 52-week low, the stock has bounced sharply up to its 52-week high. Recently, the stock has formed a reversal gravestone Doji candlestick pattern as on the weekend of June 19, 2020. Along with this bearish formation, the stock has also managed to close below its weekly pivot and short-term moving averages, i.e. 13-day EMA and 20-day EMA. The leading indicator, 14-period daily RSI, is currently quoting at 47.24 and it is in a falling mode. The daily MACD stays bearish as it is trading below its zero line. Interestingly, the price has made three higher highs in recent times but most of the indicators, including the RSI, have not reached near the prior highs. The CCI has also supported the same phenomenon, which indicates a limited upside. Considering all the above factors, we recommend you to book profit in Lupin at the current market price.
MAHINDRA LOGISTICS LTD
CMP: Rs278.90
BSE Code: 540768
I am holding Mahindra Logistics bought at Rs 300. What to do now?
- Jayaramamurthi R
EXIT IN MAHINDRA LOGISTICS AT THE CURRENT MARKET PRICE
Mahindra Logistics Ltd is currently trading at Rs 278.90. Its 52-week high/low stands at Rs 489.65/Rs 199 made on July 04, 2019 and March 25, 2020, respectively. The stock has formed a spinning bottom candlestick pattern as on the weekend of March 27, 2020 and thereafter, witnessed a pullback rally. The pullback rally is halted near 61.8 per cent retracement level of its prior downward rally and it coincides with the 200-day EMA. Considering the daily timeframe, the stock has formed a reversal dark cloud cover candlestick pattern and thereafter, witnessed a correction. 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. Among the momentum indicators, the 14-period daily RSI has cooled off after touching the zone of 75 and at present, its reading is 49.81. The RSI is trading below its nine-day average, which indicates further downside momentum. The daily MACD stays bearish as it is trading below its zero line. Considering all the above factors, we recommend you to exit in Mahindra Logistics at the current market price.
TATA CONSULTANCY SERVICES LTD
CMP: Rs 2,158.35
BSE Code:532540
I have bought 200 shares of TCS at Rs 1,750 for the medium-term. What should I do now?
- Kamaleshwar Rai
HOLD TCS WITH A STOPLOSS OF RS 2,000 ON CLOSING BASIS
Tata Consultancy Services Ltd is currently trading at Rs 2,158.35. Its 52-week high/low stands at Rs 2,296/Rs 1,504.40 made on September 03, 2019 and March 13, 2020, respectively. The stock has formed a reversal spinning bottom like candlestick pattern as on the weekend of March 20, 2020 and thereafter, witnessed a pullback rally. Recently, the stock has bounced sharply from upward sloping trendline support and coincides with the 200-day EMA level. Currently, the stock is trading above its long and short-term moving averages, i.e. 20-day EMA, 50-day EMA, 100-day EMA and 200-day EMA. The leading indicator, 14-period weekly RSI, is in a rising trajectory. The fast stochastic is also trading above its slow stochastic line. The weekly MACD stays bullish as it is trading above its zero line and signal line. The histogram is suggesting pick up in upside momentum. Hence, we suggest you to hold Tata Consultancy Services with a stop-loss of Rs 2,000 on a closing basis.
TRENT LTD
CMP: Rs611.55
BSE Code: 500251
I had bought Trent at Rs 530 recently. What is the near-term outlook?
- Parul Shrivastava
BOOK PROFIT IN TRENT AT THE CURRENT MARKET PRICE
Trent Ltd is currently trading at Rs 611.55. Its 52-week high/low stands at Rs 804.05/Rs 367.55 made on February 25, 2020 and March 24, 2020, respectively. The stock has given a downward sloping trendline breakout as on June 01, 2020 and thereafter, bounced sharply up to the level of Rs 707. Considering the daily timeframe, the stock has formed a reversal shooting star candlestick pattern as on June 26, 2020. Along with this bearish formation, the stock has also managed to close below its weekly pivot and short-term moving average, i.e. eight-day EMA. Among the momentum indicators, the 14-period daily RSI has cooled off after touching the zone of 78-80 and at present, its reading is 57.68 The RSI is trading below its nine-day average and it is in a falling mode, which indicates further downside momentum. The per cent K is below the per cent D, which is indicating further weakness. Considering all the above factors, we recommend you to book profit in Trent Ltd at the current market price.