Technical Portfolio Guide
SBI CARDS AND PAYMENT SERVICES LTD
CMP : Rs718.30
BSE : 543066
I have bought the shares of SBICARD at Rs 605 after a breakout. Should I hold or book profits?
- Sreeraj Sujith
HOLD SBICARD WITH A STOP-LOSS OF RS 665 ON CLOSING BASIS.
SBI Cards & Payment Services Ltd is currently trading at Rs 718.30. Its 52-week high/low stands at Rs 769/Rs 495.25 made on March 18, 2020 and May 22, 2020, respectively. The stock has formed a reversal bearish engulfing candlestick pattern as on March 18, 2020 and thereafter, witnessed a correction. Considering the daily timeframe, the stock has given a neckline breakout of Adam & Adam double top pattern as on June 03, 2020. Thereafter the stock has marked the sequence of higher tops and higher bottoms. Currently, the stock is trading above its weekly pivot and short-term moving averages, i.e. 20-day EMA and 50-day EMA. The 20-day EMA is in a rising trajectory, which is a bullish sign. The leading indicator, 14-period daily RSI, is in a bullish zone. The daily MACD stays bullish as it is trading above its zero line and signal line. Considering all the above factors, we recommend you to hold SBI Cards & Payment Services with a stop-loss of Rs 665 on a closing basis as it is the confluence of upward sloping trendline support and 20-day EMA level.
RPG LIFE SCIENCES LTD
CMP : Rs288.55
BSE :532983
I am holding RPG Life Sciences bought at Rs 165 for the near term. What to do now?
- Raghu M
HOLD RPGLIFE WITH A STOPLOSS OF RS 260 ON CLOSING BASIS.
RPG Life Sciences Ltd is currently trading at Rs 288.55. Its 52-week high/low stands at Rs 351/Rs 146 made on January 20, 2020 and March 25, 2020, respectively. The stock is forming a series of higher high and higher lows after registering a low of Rs 142.95 as of March 30, 2020. Considering the daily timeframe, the stock has recently given a downward sloping trendline breakout formed by connecting swing highs since June 2020. This breakout was confirmed by the above 50-week average volumes. The stock has relatively outperformed the frontline indices in the current upward rally. Also, the stock relatively outshines Nifty 500 with a decent margin. Relative strength comparison with Nifty 500 and Nifty 50 has reached to new heights. 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. Interestingly, the daily RSI has given an ascending triangle pattern breakout, which is a very bullish sign. The stochastic oscillator is also suggesting some bullish strength as per cent K is above the per cent D. Considering all the above factors, we recommend you to hold RPG Life Sciences with a stop-loss of Rs 260 on closing basis.
DLF LTD
CMP : Rs138.55
BSE : 532868
Can I buy shares of DLF for the short-term?
- Umang Kadakia
AVOID BUYING DLF FOR NOW.
DLF Ltd is currently trading at Rs 138.55. Its 52-week high/low stands at Rs 266.65/Rs 114.50 made on February 01, 2020 and March 25, 2020, respectively. The stock has formed a reversal spinning bottom candlestick pattern as on March 25, 2020 and thereafter, witnessed a pullback rally. The pullback rally is halted at 38.2 per cent of its prior downward rally (Rs 266.55- Rs 114.55) and it coincides with the 200-day EMA level. Recently, the stock has given an upward sloping trendline breakdown, which suggests further bearish momentum. 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 RSI, is currently quoting at 39.25 and it is in a falling mode. The daily 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 DLF for now.
ASTRAZENECA PHARMA INDIA LTD
CMP : Rs3,347.95
BSE : 506820
I had bought ASTRAZEN at Rs 2,960 recently. What is its near and short-term outlook?
- Elangovan Balasundaram
BOOK PROFIT IN ASTRAZEN AT THE CURRENT MARKET PRICE
AstraZeneca Pharma India Ltd is currently trading at Rs 3,347.95. Its 52-week high/ low stands at Rs 3,700/Rs 1,635.30 made on June 30, 2020 and August 23, 2019, respectively. The stock has formed a gravestone Doji candlestick pattern as on March 23, 2020 and thereafter, marked the sequence of higher tops and higher bottoms. Recently, the stock has formed a reversal shooting star candlestick pattern on the weekly timeframe. 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. 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, which suggests a limited upside. The MACD stays bearish as it is trading below its zero line and the histogram is suggesting a pickup in the downside momentum. Considering all the above factors, we recommend you to book profit in AstraZeneca Pharma India at the current market price.