Technical Portfolio Guide
SHRIRAM TRANSPORT FINANCE LTD
CMP : Rs911.40
BSE Code : 511218
Recently, I have bought SRTRASNFIN after breakout. Please suggest revise stoploss.
- Abhay Pundlik
HOLD SRTRANSFIN WITH THE STOPLOSS OF RS 835 ON CLOSING BASIS.
Shriram Transport Finance Co. Ltd is currently trading at Rs. 911.40. Its 52-week high/low stand at Rs 1,331.36/Rs 428.56 made on February 24, 2020 and March 23, 2020 respectively. The stock has given downward sloping trendline breakout as on November 04, 2020 and thereafter marked the sequence of higher highs. Currently, the stock is trading above its short and long-term moving averages, which suggests bullish trend. Talking about indicators, the 14-period daily RSI is in super bullish zone. On weekly chart, RSI is in rising trajectory, which is a bullish sign. The daily MACD stays bullish as it is trading above its zero line and signal line. Further, the daily stochastic is also suggesting bullish momentum as it has recently given positive crossover. The ADX is very strong at 58.81. The -DI is below the +DI and ADX is above the -DI and +DI. This shows the technical strength in the stock. Considering all above factors, we recommend you to hold Shriram Transport Finance Co. with the stoploss of Rs 835 on closing basis.
HERO MOTOCORP LTD
CMP : Rs2,988.45
BSE Code : 500182
I have bought shares of Hero Moto at Rs 2400 for medium term, Should I hold or book profits?
- Viswambharan KK
BOOK PROFIT IN HEROMOTOCO AT CURRENT MARKET PRICE.
Hero Motocorp Ltd is currently trading at Rs 2,988.45. Its 52-week high/low stand at Rs 3,393.85/Rs 1,475 made on October 16, 2020 and March 24, 2020 respectively. The stock has formed Doji candlestick pattern as on weekend of October 16, 2020 and thereafter witnessed correction. However, the stock has formed Homing Pigeon candlestick pattern as on November 02, 2020 and witnessed pullback rally. The pullback is halted near 61.8 per cent retracement level of its prior downward rally (Rs 3,394.90-Rs 2,787). In this pullback rally, the RSI reached to 58.10 levels and it turned down exactly from there. As per the RSI range shift rules if RSI fails to cross level of 60 has resulted into range shift of RSI. Currently, the stock is trading below its short-term moving averages, i.e. 20-day EMA and 50-day EMA level. The daily stochastic oscillator is also suggesting bearish momentum as %K is trading below the %D. Moreover, the directional indicators have seen a bearish crossover as –DI has crossed over +DI. Considering all above factors, we recommend you to book profit in Hero Motocorp at current market price.
ADANI PORTS AND SPECIAL ECO. ZONE LTD
CMP : Rs382.65
BSE Code : 532921
Please suggest what I should do with Adani Ports I bought at Rs 310 for medium-term?
- Anand Bais
HOLD ADANIPORTS WITH THE STOPLOSS OF RS 360 ON CLOSING BASIS.
Adani Ports and Special Economic Zone Ltd is currently trading at Rs 382.65. Its 52-week high/low stand at Rs 405/Rs 203.40 made on November 28, 2019 and March 23, 2020 respectively. The stock has formed three inside up candlestick pattern as on March 25, 2020 and thereafter marked the sequence of higher tops and higher bottoms. Recently, the stock has given downward sloping trendline breakout on daily timeframe along with robust volume. With this, the stock has also managed to close above upper Bollinger band and started band walk, which is also bullish sign. Currently, the stock is trading above its short and long-term moving averages and these moving averages are in sequence, which suggests trend is strong. The leading indicator, 14-period weekly RSI has crossed 60 mark for the first time since October 2019. The RSI is in rising trajectory, which is also bullish sign. The daily MACD stays bullish as it is trading above its zero line and signal line. Hence, we recommend you to hold Adani Ports and Special Economic Zone with the stoploss of Rs 360 on closing basis.
DHANLAXMI BANK LTD
CMP : Rs11.85
BSE Code : 532180
As banking stocks are surged recently, considering this Dhanlaxmi Bank looks promising. So, can I enter now for long term?
- Tushar Vashi
AVOID BUYING IN DHANLAXMI BANK FOR NOW
Dhanlaxmi Bank Ltd is currently trading at Rs 11.85. Its 52-week high/low stand at Rs 17.93/Rs 7.42 made on June 06, 2020 and March 26, 2020 respectively. The stock has given Bump and Run reversal pattern breakdown as on weekend of December 08, 2017 and thereafter marked the sequence of lower tops and lower bottoms. The major trend of the stock is bearish as it is trading below its long-short term moving averages, i.e. 20-week, 50-week, 100-week and 200-week EMAs. Among the momentum indicators, the 14-period weekly RSI is currently quoting at 45.47 and it is in falling mode. The weekly MACD stays bearish as it is trading below its zero line and signal line. Moreover, the directional indicators have seen a bearish crossover on daily chart as –DI has crossed over +DI. Considering all above factors, we recommend you to avoid buying Dhanlaxmi Bank for now.