Technical Portfolio Guide
LT FOODS LTD
CMP : Rs51.80
BSE Code : 532783
Can I hold or book profit in Daawat? I have bought the shares of Daawat at Rs 25 for long-term.
- VINEET KUMAR
BOOK PROFIT IN DAAWAT AT THE CURRENT MARKET PRICE
LT Foods Ltd is currently trading at Rs 51.80. Its 52-week high/low stands at Rs 63.50/Rs 13 made on August 11, 2020 and March 13, 2020, respectively. The stock has given a downward sloping trendline breakout as on the weekend of June 12, 2020, and thereafter, the stock gained over 100 per cent in the next two months. However, the stock has formed a reversal gravestone Doji candlestick pattern as on the weekend of August 14, 2020 and thereafter, slid into the consolidation phase. During this consolidation, the stock has formed an Adam & Adam double top pattern, which indicates correction before another northward rally. Further, the stock has recently slipped below its 100-day EMA level. The 100-day EMA is in a falling mode. The momentum indicators are also supporting the current price structure. The leading indicator i.e. the 14-period weekly RSI has cooled off after touching the overbought zone and at present, its reading is 55.66. The RSI is trading below its 9-week average, and it is in a falling mode, which indicates a further downside momentum. The momentum indicator, MACD line has crossed under the signal line, which resulted in the histogram turning negative. Considering all the above-mentioned factors, we recommend you to book profit at the current market price.
BALAJI TELEFILMS LTD
CMP : Rs61.15
BSE Code : 532382
Can I buy the shares of Balaji Telefilms?
- Chetan Pangam
AVOID BUYING BALAJITELE FOR NOW
Balaji Telefilms Ltd is currently trading at Rs 61.15. Its 52-week high/low stands at Rs 101.70/Rs 28 made on August 07, 2020 and March 23, 2020, respectively. The stock as formed a shooting star candlestick pattern as of August 07, 2020 and thereafter, marked the sequence of lower tops & lower 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. Further, two months back, the 200-DMA crossed over the 50-DMA and was termed as the 'death crossover', which is a long-term bearish signal. Among the momentum indicators, the daily RSI is in bearish territory and it is in a falling mode. The daily RSI has not able to cross the 60 mark since December 2020. The weekly RSI is also in a falling mode. On the directional index, the bearish strength is higher than the bullish strength as +DI is much below the -DI. Hence, we recommend you to avoid buying Balaji Telefilms for now.
HIMATSINGKA SEIDE LTD
CMP : Rs168.65
BSE Code : 514043
I have bought the shares of Himatsingka Seide at Rs 130. Should I hold or book profits?
- Santoshi Dosapati
HOLD HIMATSEIDE WITH A STOP-LOSS OF RS 160 ON A CLOSING BASIS
Himatsingka Seide Ltd is currently trading at Rs 168.65. Its 52-week high/low stands at Rs 178.95/Rs 43 made on February 17, 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, marked the sequence of higher tops & higher bottoms. The stock has formed a dark cloud cover candlestick pattern as on December 17, 2020 and thereafter, slid into a corrective phase, which resulted in the formation of a triangle pattern. However, the stock has recently given a breakout of symmetrical triangle pattern on the daily chart. This breakout was confirmed by a robust volume. As the stock is near to its 52-week high, it is trading above all the short and long-term moving averages. The stock is meeting the criteria of Mark Minervini’s trend template. Interestingly, the RSI has given a breakout of the symmetrical triangle pattern, which is a very bullish sign. The daily RSI is also in bullish territory. The daily MACD stays bullish as it is trading above its zero line and signal line. On the daily chart, ADX is 21.36 and suggests that the trend is yet to be developed. The directional indicators continue in the ‘buy’ mode as +DI continues above the –DI. Considering a robust technical structure, we recommend you to hold the stock with a stop-loss of Rs 160 on a closing basis.
SEYA INDUSTRIES LTD
CMP : Rs55
BSE Code : 524324
I am holding Seya Industries Ltd bought at Rs 88 in June. I expected it to bounce back but it fell more. What should I do?
- Raj kumar
EXIT SEYAIND AT THE CURRENT MARKET PRICE
Seya Industries Ltd is currently trading at Rs 55. Its 52-week high/low stands at Rs 120.50/Rs 36.50 made on June 30, 2020 and May 13, 2020, respectively. The stock has formed a dark cloud cover candlestick pattern as on the weekend of July 03, 2020 and thereafter, marked the sequence of lower tops & lower 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. Further, these moving averages are in a falling mode, which is a bearish sign. The weekly RSI is in bearish territory and it is in a falling mode. The RSI has not been able to cross the 60 mark since June 2020. 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 exit Seya Industries Ltd at the current market price.