Technical Portfolio Guide
MARKSANS PHARMA LTD.
CMP : Rs 84
BSE Code : 524404
I’m holding 500 stocks of Marksans Pharma at an average price of Rs 72. Should I continue holding this stock?
- Rambabu
BOOK PROFIT IN THE STOCK
The stock is in counter-trend consolidation. For the second consecutive week, it is trading below the 10-weekly average. The stock is trending downwards and is also trading below its 20-DMA for the past few days. Currently, it has retraced over 23.6 retracement level and is near the 38.2 per cent retracement level. Its relative price strength is poor i.e. at 45, which means that it is underperforming the broader market. During the last seven weeks of countertrend, it formed bearish can-dles almost every week. The weekly MACD is about to give a sell signal while the Elder impulse system is indicating that the stock has lost its momentum and is in a neutral zone. The daily RSI is below 50 zone and is showing weakness. The ADX (22.19) is declining, which is also a weaker sign. Overall, it is time to book profit in the stock. Otherwise, maintain a stop-loss at Rs 80 and continue the positions.
AU SMALL FINANCE BANK LTD.
CMP : Rs1,238.15
BSE Code : 540611
Please share your outlook for AU Small Finance Bank as I’m planning to buy this stock.
- Dr. Vinayak
BUY THE STOCK ABOVE RS 1,260
The stock, which is trading 9.2 per cent to the prior pivot level, is in an uptrend. After two weeks of consolidation, it is trading at the prior swing high. It is 3.63 per cent above the 20-DMA and 13.07 per cent above the 50-DMA. Both the averages are trending up. The daily MACD has given a fresh buy signal, and the weekly MACD is showing a pickup in the bullish momentum. Narrowed Bollinger bands show an impulse move on the cards on the upside. The RSI, which is above the level of 65 as well as the prior swings, is a positive sign. The ADX (29.77) shows decent trend strength, the declining –DMI is a positive sign. The Elder impulse system is showing a bullish bias. It is also above the anchored VWAP support and resistances. In short, the stock technically looks positive and is forming a bullish pattern. A move above Rs 1,260 will result in a breakout. Maintain a stop-loss at Rs 1,170. The breakout target is placed at Rs 1,355. Above this, continue with a trailing stop-loss.
HDFC BANK LTD.
CMP : Rs1,486.30
BSE Code : 500180
How does HDFC Bank look on the chart for the short to medium-term?
- Nilesh Patel
A MOVE ABOVE RS 1,492 IS POSITIVE FOR THE STOCK
The stock retraced over 50 per cent of the recent downmove. It also moved above the moving average ribbon. The stock also reached the 50-DMA and is just above the 20-DMA. The RSI is at the prior swing high, a move above 57 will be much positive for the stock. As the stock has declined over 14 per cent during the last six months, the relative price strength is poor i.e. at 20. The volume recorded was also below average. The daily MACD has given a buy signal. The -DMI is declining while the +DMI is higher, which is a positive sign for the stock. The Elder impulse system has given a buy signal. In short, the stock recovered above the key averages. It may face resistance at Rs 1,492, which is 61.8 retracement. A move above this level is a clear indication of a reversal to the upside while a move above Rs 1,492 will give confirmation of a reversal. Above this level, it can test Rs 1,540 in the short term while Rs 1,640 is a medium-term target. Maintain a stop-loss at Rs 1,455.
ASTRAZENECA PHARMA INDIA LTD.
CMP : Rs3,462.00
BSE Code : 506820
Share your views on AstraZeneca Pharma for medium-term perspective. Is it a good time to buy this stock?
- Shivkaran Singh
LEVEL OF RS 3,355 IS IMPORTANT SUPPORT FOR THE STOCK
The stock is continuously declining since the third week of April. It has a very poor relative price strength of just 6. Though it has the fundamental strength, the price is not reacting. The weekly directional movement indicators are at an influx point that may result in an impulse move. The weekly MACD line is below the signal line while the zero line is showing a negative momentum. The daily MACD is showing a buy signal while the RSI is just above the 35 zone, indicating a possible recov-ery. Currently, Rs 3,355 holds key support. Only a move above Rs 3,600 will give us a good buy opportunity. However, a move below Rs 3,355 is further negative for the stock. It is also an underperformer within the sector.