Technical Portfolio Guide
INFO EDGE (INDIA) LTD
CMP: Rs.2005
BSE Code: 532777
I am holding stocks of Info Edge for the short term at an average price of Rs 1700. Should I continue to hold this scrip or book profit? - Akhilesh Kumar
BOOK PROFIT IN INFO EDGE AT THE CURRENT MARKET PRICE.
Info Edge (India) Ltd is currently trading at Rs 2005. Its 52-week high/low stand at Rs 2432/ Rs 1312.80 made on June 3, 2018, and November 16, 2018, respectively. After registering all-time high, the stock had formed symmetrical triangle pattern and given breakdown along with strong volumes as on weekend of August 23. Additionally, the stock formed a sizeable bearish candle in the breakdown week. The short term trend of the stock is bearish as it is trading below its weekly pivot and short-term moving averages, i.e. 20-day EMA, 50-day EMA and 100-day EMA. The 14-period weekly RSI is currently quoting at 49.61 and it has recently given upward sloping trendline breakdown. The weekly fast stochastic is also trading below its slow stochastic line. The weekly MACD is trading below the zero line since last four weeks and the histogram is suggesting that the downside momentum is picking up. Considering all the above factors, we recommend you to book profit in Info Edge (India) at the current market price.
HEIDELBERGCEMENT INDIA LTD
CMP: Rs.197.95
BSE Code: 500292
I am planning to buy shares of HeidelbergCement India for the short term. Please provide your views on the stock and suggest an entry price. - Satish Bakliwal
BUY HEIDELBERGCEMENT ONLY ABOVE RS 206 ON A CLOSING BASIS.
Heidelberg Cement India Ltd is currently trading at Rs. 197.95. Its 52-week high/low stand at Rs 217.60/Rs 122.10 made on May 29, 2019 and October 25, 2018, respectively. The stock had given breakout of downward sloping trendline as on weekend of March 8, 2019 and, thereafter, it bounced sharply till its all-time high level. Since last 14 weeks, the stock is trading in symmetrical triangle. The major trend of the stock is bullish as it is trading above its weekly pivot and above its long-short term moving averages, i.e. 20-week, 50-week, 100-week and 200-week EMAs. The leading indicator RSI on the daily time frame is in a triangle formation and any breakout will be a great opportunity to buy this stock. The daily stochastic oscillator is also suggesting some bullish strength as %K is above the %D. Moreover, the daily MACD is trading above zero line since last eight trading sessions. In case the stock sustains above the upper trendline of symmetrical triangle, which is currently placed at Rs 206, we may see another upside rally. Hence, we suggest you to buy HeidelbergCement India only above Rs 206 on a closing basis.
ICICI LOMBARD GEN. INSURANCE CO.
CMP: Rs.1232
BSE Code: 540716
I have bought shares of ICICI Lombard GIC at Rs 1060 for the near term, Should I hold or book profits? - Sanjiv G G
HOLD ICICI LOMBARD GIC WITH STOP LOSS OF RS 1140 ON A CLOSING BASIS.
ICICI Lombard General Insurance Company Ltd is currently trading at Rs. 1232. Its 52-week high/low stand at Rs 1264.50/Rs 703.40 made on June 6, 2019 and October 9, 2018 respectively. The stock had given a breakout of ascending triangle as on weekend of February 22, 2019 and, thereafter, it had marked a sequence of higher tops and higher bottoms. Considering the daily time frame, the stock had recently given breakout of the downward sloping trendline, which depicts further upward momentum. The major trend of the stock is bullish as it is trading above its weekly pivot and above its long-short term moving averages, i.e. 20-day, 50-day, 100-day and 200-day EMAs and these moving averages are exactly in an ascending order, which suggests that the trend is strong. The leading indicator 14-period daily RSI is currently quoting at 64.02 and it is in the bullish zone. Moreover, the trend strength indicator ADX is at a healthy level of 24.11. The directional parameter +DI is much above the -DI. Considering all the above factors, we recommend you to hold ICIC Lombard with stop loss of Rs 1140 as it is the confluence of 50-day EMA and upward sloping trendline support.
AAVAS FINANCIERS LTD
CMP: 1550
BSE Code: 541988
I am holding 50 shares of AAVAS Financiers bought at an average price of Rs 1323 for the short term. Kindly advise me. Should I hold or book profits? - Atul Kansal
BOOK PROFIT IN AAVAS AT THE CURRENT MARKET PRICE.
AAVAS Financiers Ltd is currently trading at Rs. 1550. Its 52-week high/low stand at Rs 1622/Rs 611.50 made on August 19, 2019 and October 31, 2018, respectively. The stock had given downward sloping trendline breakout on April 25, 2019 and, thereafter, it had marked a sequence of higher tops and higher bottoms. Considering the weekly scale, the stock had formed bearish engulfing candle as on weekend of August 23, 2019. The bearish engulfing candlestick pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend. From the momentum indicators perspective, the 14-period weekly RSI is currently quoting at 64.24 and it is trading below its 9-week average. The weekly stochastic oscillator is also suggesting some bearish momentum as %K is below the %D. The momentum indicator daily MACD line has crossed under the signal line, which resulted in the histogram turning negative. Moreover, the negative divergence is clearly visible between the daily RSI, daily stochastic and stock price movement, which suggests limited upside. Considering all the above factors, we recommend you to book profit in AAVAS Financiers at the current market price.