Technical Portfolio Guide
POONAWALLA FINCORP LTD
CMP: ₹ 269.45
BSE Code: 524000
I have the shares of Poonawalla Fincorp bought at Rs 260. What are its short-term levels? - Rajan Sabharwal
HOLD THE STOCK WITH A STOP-LOSS OF RS 247
The stock has formed a support base at the level of Rs 212. This week, it broke the 30-day consolidation, but failed to show a stronger upside. It took support at the Anchored VWAP for the day. Indicators are not showing any negative divergences. The RSI, at 61, is facing resistance. Watch the RSI 50 level; in any case, if it declines below this, it will be negative for the stock. You might have bought the stock by looking at the breakout. You can consider holding the stock with a strict stop-loss of Rs 247. Below this level, it may test the support of Rs 212 again.
HDFC LIFE INSURANCE COMPANY LTD
CMP: ₹ 529.25
BSE Code: 540777
I am holding HDFC Life for Rs 600. What is its long-term prospect? - Raju Paul
THE STOCK NEEDS TO CROSS RS 612 LEVEL FOR AN UPSIDE
The stock is in a clear downtrend. The counter-trend rally has ended for the time being. It has formed a head & shoulders pattern and declined below the neckline. The pattern target is almost Rs 100 i.e. much below the current price. It is trading below all the key moving averages, and the moving average ribbon is in a clear downtrend. The MACD is below the zero line and signal line, showing an increased bearish momentum. The RSI is in a strong bearish zone. The Elder impulse system has formed a strong bearish bar. The stock is trading below the Anchored VWAP. All the other indicators are also in a bearish mode. Keep stop-loss as per your risk appetite. Your price may not come in the short term and for the long-term, it needs to cross the level of Rs 612 to show some positivity.
HAPPIEST MINDS TECHNOLOGIES LTD
CMP: ₹ 969.40
BSE Code: 543227
What is the outlook for Happiest Minds for the medium term? - Prasad Joshi
WAIT FOR A STRONG WEEKLY CLOSE FOR FRESH PURCHASE
The stock is in the downtrend and declined over 50 per cent from its top. For the last five weeks, it has been forming a base. It closed above the 100-DMA on July 21. The volume has been picking up over the last three days. For a trend reversal, it needs to close above the prior swing, placed at Rs 1,024. At the same time, the 100-DMA must be in an uptrend. As the stock is trading above the five-week base, the MACD is about to give a bullish signal on the weekly chart. The weekly RSI has to sustain above the zone of 45. Its relative momentum is good in comparison to the broader index Nifty 500. However, the relative strength of the relative rotation graph (RRG) is still lagging in the broader market. It is better to wait for a strong weekly close for the fresh purchase. The stop-loss is a little far away. The recent low of Rs 785 is the stop-loss for the long positions.
BLUE DART EXPRESS LTD.
CMP: ₹ 8,320.00
BSE Code: 526612
What is the entry-level for Blue Dart for swing trading? - Bhagwandas Mohta
WAIT FOR CONSOLIDATION AROUND RS 7,700 LEVEL
The stock is trading at lifetime highs and also, above the key moving averages. It is about 11 per cent above the 50-DMA and about 5 per cent above the 20-DMA. It formed a strong bearish candle on July 20, which is not a positive sign. The daily MACD is also showing a decline in bullish momentum. The MACD line is about to move below the signal line. The relative strength is lagging. The Elder impulse system has formed a neutral bar. The KST and TSI indicators show a lag in the momentum. The momentum and the patterns hint at caution for the fresh entry. It is better to wait for consolidation around the zone of Rs 7,700.