Technical Portfolio Guide
PNB
CMP: Rs.85.25 BSE Code: 532461
I had bought shares of PNB at Rs 93 assuming it to move upwards. What should I do now?
- Abhay Kant Dubey
HOLD PUNJAB NATIONAL BANK FOR NOW
PNB is currently trading at Rs 85.25. Its 52-week high/low stand at Rs 231.60/Rs 72.35 made on October 26, 2017 and June 28, 2018, respectively, showing a big downfall. The stock had witnessed a bearish engulfing on January 25, 2018 at 197.60 after which it plunged sharply by 53 per cent till February 28, 2018. Since then, the stock is trading in consolidation to the downside. The stock took a kind of multiple support at Rs 73-74.50 levels and bounced back. Recently, the stock has given a downward sloping trendline breakout at Rs 85 with justifiable volumes and the 14-period RSI quoting at 66. We suggest you to Hold for now.
KPIT
CMP: Rs.303.35 BSE Code: 532400
I hold shares of KPIT purchased at Rs 300. The stock is at its peak. Will it go up from here?
- Bishwanath Chaubay
HOLD KPIT TECHNOLOGIES FOR NOW
KPIT is currently trading at Rs 303.35. Its 52-week high/low stand at Rs 308.80/Rs 104.60 made on August 1, 2018 and August 11, 2017, respectively, depicting an uptrend and the stock trading at all-time high levels. Considering the daily time frame, the stock had witnessed a correction from its prior all-time high at Rs 304.45. The correction was up to 61.8% retracement of the rally from Rs 259 to Rs 304.45. The stock bounced back sharply, hitting a new all-time high. The volumes are good and the 14-period RSI is still trailing at 64 level, which suggests some more room left for the stock to surge. We suggest you to hold.
LUPIN
CMP: Rs.865 BSE Code: 500257
I had bought shares of Lupin at Rs 865, but didn't sell at Rs 945. Thereafter, it saw a sharp fall. What to do now?
- Mukund
AVERAGE LUPIN ABOVE RS 849
Lupin is currently trading at Rs 865. Its 52-week high/low stand at Rs 1090/723.55 made on October 30, 2017 and May 15, 2018, respectively. Recently, the stock witnessed a sharp fall of nearly 16.6% from July 5 to July 19. The stock consolidated for nearly 8 trading sessions and has bounced back on August 1, where the stock also hit above its 50-day and 100-day EMA levels on a closing basis. The stock gave a volume spurt and the 14-period RSI crossed the average level of 50, which may give some more upside in the coming sessions. However, the stock has resisted near 38.2 % retracement level on August 1. Hence, we suggest you to average above Rs 849 levels to recover.
ADANI ENTERPRISES
CMP: Rs.196.50 BSE Code: 512599
I hold Adani Enterprises shares bought at Rs 175. What should be my next action?
- Sucharit Roy
BOOK PROFITS IN ADANI ENTERPRISES BELOW RS 189
Adani Enterprises is currently trading at Rs 196.50. Its 52-week high/low stand at Rs 211.07/Rs 99.32 made on February 14, 2018 and August 22, 2017 respectively. The stock had given a Doji at 52-week high and fell, making lower tops and lower bottoms up to Rs 100.85 level on July 2, 2018, making a downward sloping channel pattern on the daily time frame. Thereafter, the stock witnessed a dynamic impulse, gaining 105% up to July 27, 2018. This was on the back of channel pattern breakout at Rs 127.50 on July 13 and 50-day, 100-day and 200-day EMA breakouts. Now the stock is consolidating at higher levels forming a kind of pennant pattern. However, the stock may correct some more as the 14-period RSI has given a negative crossover in overbought zone. We suggest you to book profits if it falls below Rs 189.
NETWORK 18
CMP: Rs.44.55 BSE Code: 532798
Can I buy Network18 at the current levels?
- Digvijay Singh Negi
BUY NETWORK 18 MEDIA & INVESTMENTS IN THE RANGE OF RS 45.50-46
Network18 is currently trading at Rs 44.55. Its 52-week high/low stand at Rs 64/Rs 39.30 made on January 15, 2018 and June 27, 2018 respectively, portraying a fall in 2018. The stock witnessed lower tops and lower bottoms since its 52-week high to low and witnessed a kind of double bottom at Rs 39.30-39.75 levels. The stock bounced back gradually from Rs 39.75 on July 17 and witnessed a multiple resistance breakout at Rs 44.45-45.10 along with downward sloping trendline breakout at Rs 44.50 level and 50-day EMA breakout on August 1 on a closing basis. The stock has witnessed a positive 14-period RSI crossover at 58, suggesting momentum despite fluctuating volumes. We suggest you to enter above Rs 45.50-46 levels.
MUNJAL SHOWA
CMP: Rs.215.10 BSE Code: 520043
I have entered in Munjal Showa at Rs 237 level, but the stock reversed. What should I do now?
-Tanmay Rakshe
HOLD FOR NOW AND EXIT MUNJAL SHOWA BELOW RS 21
Munjal Showa is currently trading at Rs 215.10. Its 52-week high/low stand at Rs 312/Rs 197.65 made on January 9, 2018 and March 26, 2018, respectively. Considering the weekly time frame, the stock was trading in a range of Rs 156 and Rs 241 and gave a breakout on September 8 week. The stock surged up to Rs 312 and witnessed a double top, from where it reversed and fell up to Rs 197.65 level. This is the upward sloping trendline support level. In the recent week also, the stock is trailing at its support level with turnback in the oscillators. The stock looks weak, but it has attempted a bounce-back on the daily time frame. Hence, we suggest you to exit below Rs 212, which is its current low.