Technical Portfolio Guide
THE RAMCO CEMENTS LIMITED
CMP: Rs759.60
BSE Code:500260
What is the buying level for Ramco Cements for the short term?
- Nagappan V
THE STOCK WILL TURN BULLISH ABOVE RS 765
The stock is undergoing a strong downtrend and has corrected over 15 per cent since its recent swing high. It has fallen for over four weeks but received some buying interest at the lower levels. However, the stock still trades below all the key moving averages. Moreover, the volumes have been depleted, which suggests less interest among the market participants for this stock. Along with this, most of the technical parameters point towards the neutral to bearish nature of the stock. Recently, the stock is consolidating in a narrow range of Rs 720-Rs 752 for the past few days. Moreover, the 20-DMA lies at Rs 765, which can act as strong resistance. The stock will turn bullish once it crosses its 20-DMA with huge volume and strong price action. You can consider entering this stock once it closes above the given level with good volumes.
MOTILAL OSWAL FINANCIAL SERVICES LTD.
CMP: Rs893.20
BSE Code:532892
I have bought the shares of Motilal Oswal for Rs 860. Please suggest the revised stop- loss.
- Hardik Kk Shah
YOU CAN CONSIDER KEEPING STOP-LOSS AT RS 805
The level of Rs 860 acted as strong support earlier, which was breached decisively in the past few days. The stock has then fallen nearly 6 per cent before recovering a little. However, it still trades below three important moving averages and has a bearish sentiment. The momentum oscillators and technical indicators suggest neutral nature of the stock. It had seen a strong buying interest at the lower level of Rs 805, from which, it bounced back strongly. Thus, the level of Rs 805 happens to be its strong support level. Any fall below Rs 805 will indicate further bearishness, and you can consider keeping your stop-loss at the level of Rs 805.
ENDURANCE TECHNOLOGIES LTD
CMP: Rs1191
BSE Code:540153
I have 20 shares of Endurance Technologies bought at Rs 1,130. Should I book profit?
- Dinesh Ranawat
HOLD THE STOCK WITH A STOP-LOSS OF RS 1,168.
The stock is trading higher above your buying price and thus, you are already sitting with good profits. The 14-period daily RSI is seen improving and has crossed above its prior swing high. Moreover, the MACD has given a bullish crossover on the daily timeframe. However, the price structure does not seem to be bullish, and the stock has faced resistance at higher levels. It currently trades in the zone of Rs 1,200-Rs 1,168. The level of Rs 1,168 happens to be its 10-day MA and acts as an important support level. Any fall below this level can see a major downfall. Thus, you can consider holding the stock with a stop-loss of Rs 1,168.
GENERAL INSURANCE CORPORATION OF INDIA
CMP: Rs119.35
BSE Code:540755
How is GICRE from a technical analysis perspective?
- Ravi Kant Garg
YOU CAN CONSIDER BUYING ABOVE RS 125
The stock of General Insurance Corporation of India (GICRE) has witnessed a sharp fall towards the level of Rs 110 in the past few days. Since its recent swing high of Rs 144.20, the stock has corrected over 25 per cent. However, it has received strong buying interest at the lower levels and also, witnessed a slight recovery. Lately, the stock has crossed above its 20-DMA with huge volume, before receding a little. Moreover, the technical indicators and momentum oscillators have shown improved strength in the stock. Interestingly, the on-balance volume (OBV) has indicated strong strength in the stock from volumes’ perspective. Thus, you can consider entering above Rs 125, which happens to be its prior swing high. The stock has the potential to surge, provided it crosses above the mentioned level with good volumes. It is expected to produce a decent gain of about 5-10 per cent thereafter. However, in case the market sentiment hits the stock hard, it can tumble strongly below its 20-DMA. Thus, you can consider keeping a stop-loss at Rs 117, which happens to be its 20-DMA.