Technical Portfolio Guide
TATA COFFEE LTD
CMP: Rs114.85
BSE Code:532301
I am holding the shares of Tata Coffee at Rs 85 for a long-term. Should I hold or book profits?
- Venugopal Sn
HOLD TATA COFFEE WITH A STOP-LOSS OF RS 105 ON A CLOSING BASIS
Tata Coffee Ltd is currently trading at Rs 114.85. Its 52-week high/low stands at Rs 119.90/Rs 47.10 made on January 13, 2021, and March 25, 2020, respectively. The stock has formed a spinning top candlestick pattern as on the weekend of March 27, 2020 and thereafter, witnessed nearly 120 per cent upside in the next 22 weeks. However, after registering a high of Rs 119.90, the stock has witnessed a correction. The correction is halted near the 20-week EMA level. Recently, the stock has given a downward sloping trendline breakout on the daily timeframe, which is a bullish sign. Further, the stock is trading above its short and long-term moving averages. The stock is meeting Daryl Guppy’s multiple moving averages set-up rules. Talking about the indicators, the daily and weekly RSI is in a bullish tra-jectory and it is in a rising mode on both the timeframes. The daily MACD stays bullish as it is trading above its zero line and signal line. The histogram is suggesting a pickup in the upside momentum. Hence, we recommend you to hold Tata Coffee with a stop-loss of Rs 105 on a closing basis.
DCM LTD
CMP: Rs27.90
BSE Code:502820
I have bought the shares of DCM Ltd at Rs 38. It is not moving in the short-term. Please guide.
- Yogesh Patil
EXIT IN DCM LTD BELOW RS 26.50 ON A CLOSING BASIS
DCM Ltd is currently trading at Rs 27.90. Its 52-week high/low stands at Rs 41.70/Rs 13.01 made on December 14, 2020, and April 07, 2020, respectively. The stock has formed a bearish engulfing candlestick pattern as of December 14, 2020, and thereafter, witnessed a correction. However, since the last 17 trading sessions, the stock is oscillating in a small range along with lower volume near the support zone. Currently, the stock is trading above its short and long-term moving averages, i.e. 50-day EMA, 100-day EMA, and 200-day EMA level. This suggests that the stock is on an uptrend but the indicators and oscillators did not support the same phenomenon. The 14-period daily RSI has cooled off after touching the zone of 80 and, at present, its reading is 49.63. The RSI is trading below its 9-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 signal line. Going ahead, in case the stock sustains and closes below the zone of Rs 27-Rs 26.50, then it may extend its downward journey and test the low of Rs 20.95. Hence, exit DCM below Rs 26.50 on a closing basis.
BANDHAN BANK LTD
CMP: Rs373.00
BSE Code: 541153
I have bought the shares of Bandhan Bank at Rs 354 for a short-term. Should I wait or exit with profits?
- Rohit Garg
BOOK PROFIT IN BANDHAN BANK AT THE CURRENT MARKET PRICE
Bandhan Bank Ltd is currently trading at Rs 373. Its 52-week high/low stands at Rs 525.75/Rs 152.35 made on January 15, 2020, and March 25, 2020, respectively. The stock has formed a bearish pin bar candlestick pat-tern as of December 11, 2020 and thereafter, witnessed a correction. The correction is halted near the 38.2 per cent retracement level of its prior upward move (Rs 279-Rs 430.70). Recently, the stock has given a neckline breakdown of Adam & Adam double top pattern on the daily chart, which suggests a correction before another northward rally. With this, the stock has also managed to close below its weekly pivot and short-term 20-day EMA level. Further, the 20-day EMA is in a falling mode. Interestingly, the daily RSI has failed to sustain above the zone of 60-62. As per the RSI range shift rules, if RSI fails to cross the level of 60, it ends up in the range shift of RSI. 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 book profit in Bandhan Bank at the current market price.
ABBOTT INDIA LTD
CMP : Rs15,033.00
BSE Code : 500488
Fundamentally, Abbott India looks interesting. Can I enter now?
- Roysten Lobo
AVOID BUYING ABBOTT INDIA FOR NOW
Abbott India Ltd is currently trading at Rs 15,033. Its 52-week high/low stands at Rs 18,569/Rs 12,218.10 made on May 04, 2020 and February 01, 2020, respectively. The stock has formed a shooting star candlestick pattern as on May 15, 2020, and thereafter, marked the sequence of higher tops & higher bottoms. 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 level. Interestingly, the weekly RSI is also marking lower tops & lower bottoms, which indicates a bearish momentum. The daily RSI is currently quoting at 32.37 and it is in bearish territory. The weekly and daily MACD stay bearish as it is trading below its zero line and signal line. On the directional index, the bearish strength is higher than the bullish strength as +DI is much below the -DI. Hence, avoid buying Abbott India for now.