Technical Portfolio Guide
COFORGE LTD.
CMP: Rs 4,728.60
BSE Code 532541
Is it good to enter Coforge at the current levels for the long term?
- Sanjeev Gupta
CONSIDER ENTERING ABOVE RS 5,000 ON A CLOSING BASIS
Coforge Ltd has been on a downtrend for a few weeks now and corrected over 25 per cent since its all-time high. It is below its 20-weekly moving average and is currently, taking support at its 50-WMA. The 14-period weekly RSI indicates neutral strength in the stock. Moreover, the stock trades below its 200-DMA, which justifies its bearishness. Apart from this, the MACD line is below the signal line and the zero line. Recently, the stock has been consolidating in the range of Rs 4,350-Rs 4,950. The stock will turn bullish only when it closes above the 5,000-level. The level of 5,000 happens to be strong resistance as defined by the horizontal resistance. Moreover, the 20-DMA lies at this level. Any closing above this level would result into a breakout of consolidation range and can attract buyers and thus, the stock would be attractive for the long term as well
COLGATE-PALMOLIVE (INDIA) LTD
CMP : Rs 1,456.30
BSE Code : 500830
What is a good entry-level for Colgate for the short term?
- Ashok Garg
YOU CAN CONSIDER BUYING ABOVE RS 1,500
The major trend of the stock is bearish as it has fallen about 20 per cent since its all-time high of Rs 1,823. In the past few days, the stock has been consolidating in a wider range of Rs 1,375-Rs 1,500. The 14-period daily RSI is at 53, which indicates the neutral strength of the stock. Moreover, the other momentum indicators and oscillators are not showing much movement, which indicates a bullish view. However, the stock has shown some upside lately and also, recorded above-average volume in the process. The 1,500-level happens to be a crucial resistance as the stock tested it multiple times. A closing above 1,500 with a larger volume will indicate bullishness and a long position can be initiated at that level.
JK PAPER LTD.
CMP: Rs 235.05
BSE Code:532162
I have entered JK Papers at Rs 220. Should I book profit?
- Baburaj Rajkumar
HOLD THE STOCK WITH A STOP-LOSS AT RS 232
You have entered at a strong support level. The stock has jumped nearly 8 per cent from your buying level. Moreover, it is displaying strong bullishness and has taken out its prior swing high. The difference between its 20-day short-term moving averages and the stock price is nearly 5 per cent, which indicates the high momentum of the stock. Along with this, it is also meeting Guppy’s Multiple Moving Average (GMMA) criteria set up by Daryl Guppy. The 14-period daily RSI is already trading in a bullish range. The stock has also recorded above-average volume lately, highlighting the increasing participation in the stock. The stock has the potential to surge as evident from its strong price action and technical parameters. You can consider holding the stock and ride the momentum. However, in case the stock shows weakness, you can consider keeping a stop-loss at Rs 232, which is a strong support level. The 232-level is short-term support and will indicate weakness if it is breached.
NETWORK18 MEDIA & INVESTMENTS LTD.
CMP : Rs 92.20
BSE Code :532798
How is Network 18 for the short to medium term?
- Brijesh Parekh
THE STOCK WILL TURN BULLISH AFTER RS 95
The stock has been consolidating in a range of Rs 80-Rs 93 for a few days. The volumes have also dropped lately, and a clear trend is lacking. The daily RSI indicates neutrality in the stock and the MACD histogram has also dropped. Besides, the Elder Impulse System indicates a neutral view of the stock. Overall, the technical view is neutral without much market participation. The level of 95 happens to be a crucial resistance as the stock has tested this level multiple times before. If supported by a larger volume, a closing above the level will turn the stock bullish. The stock has the potential to reclaim the all-time high levels of Rs 115 in the short to medium-term. If the stock closes above the mentioned level, you can consider your trade accordingly.