Your Technical Portfolio Guide
INTELLECT DESIGN ARENA LTD
CMP: Rs145.50
BSE Code: 538835
I am holding shares of INTELLECT bought at Rs 220, I don’t want to exit at a loss. What should I do?
- Srujan
I S EXIT INTELLECT DESIGN ARENA
Intellect Design Arena Ltd is currently trading at Rs.145.50. Its 52-week high/low stand at Rs 292/ 142.40 made on July 15, 2019 and November 06, 2019 respectively. The stock had formed a reversal Bearish Engulfing candlestick pattern on July 19, 2019 and thereafter marked a sequence of lower tops and lower bottoms. Recently, the stock gave a breakdown of its upward sloping trendline support along with strong volume, which indicates further downward momentum. Majorly, the stock is displaying a bearish trend as it is trading below its weekly pivot and short-long term moving averages, that is, 20-week EMA, 50-week EMA, 100-week EMA, and 200-week EMA. The leading indicator, 14-period weekly RSI, is currently quoting at 29.32 and is in a bearish zone. The weekly MACD stays bearish as it is trading below its zero line and signal line. Currently, the volumes support the falling prices and oscillators are inclined southward, which suggests more downside from the current levels. Considering the above, we recommend you to exit Intellect at its current market price.
AEGIS LOGISTICS LTD
CMP: Rs180
BSE Code: 500003
I am planning to purchase shares of Aegis Logistics as stock is trading in range from last few weeks. Please suggest what should I do?
- Srinivasa
AVOID BUYING AEGIS LOGISTICS FOR NOW.
Aegis Logistics Ltd is currently trading at Rs.180. Its 52-week high/low stand at Rs 241/160.05 made on May 29, 2019 and October 09, 2019 respectively. The stock had given Adam and Adam double bottom patterns neckline breakdown as on June 25, 2018 and thereafter marked a sequence of lower tops and lower bottoms. The major trend of the stock is bearish as it is trading below its weekly pivot and below its long-short term moving averages, that is, 20-week, 50-week, 100-week, and 200-week EMAs. The leading indicator, 14-period weekly RSI, is currently quoting at 44.73. The fast stochastic line is also trading below its slow stochastic line, which indicates further downward momentum. In case the stock sustains and closes below its horizontal support zone of Rs 163-Rs 160, it may extend its southward journey. Hence, we recommend you to avoid buying Aegies Logistics for now.
FINOLEX INDUSTRIES LTD.
CMP: Rs575.15
BSE Code: 500940
I have bought shares of Finolex Industries at Rs 510, Should I hold or book profits?
- Amitabh Kumar
HOLD FINOLEX INDUSTRIES WITH A STOPLOSS OF RS 565 ON CLOSING BASIS.
Finolex Industries Ltd is currently trading at Rs. 575.15. Its 52-week high/low stand at Rs 635/440 made on November 11, 2019 and February 21, 2019 respectively. The stock had given an inverted head and shoulders like pattern breakout as on September 17, 2019 and thereafter bounced sharply to its all time high level. From the last five weeks, the stock is consolidating in a range of Rs 627-582.80 and formed a bullish flag like pattern. The major trend of the stock is bullish as it is trading above its long-short term moving averages, that is, 20-week, 50-week, 100-week, and 200-week EMAs. The 50-DMA crossed over the 200-DMA three months ago, called the 'golden crossover', which is a long term bullish signal. The leading indicator 14-period weekly RSI is currently quoting at 54.49 and it is in a bullish zone. The weekly MACD stays bullish as it is trading above its zero line and signal line. In case the stock sustains and closes above its upper trendline of bullish flag which is currently placed at Rs 627, it may extend its northward journey. Considering all of the above factors, we recommend you to hold Finolex Industries with a stoploss of Rs 565 on a closing basis.
HINDUSTAN PETROLEUM CORP. LTD.
CMP: 287.10
BSE Code: 500104
I am holding HPCL bought at Rs 260. What to do now?
- Rajendra Bhansali
BOOK PROFIT IN HPCL AT CURRENT MARKET PRICE.
Hindustan Petroleum Corporation Ltd is currently trading at Rs. 287.10. Its 52-week high/ low stand at Rs 333.45/211.35 made on June 03, 2019 and February 18, 2019 respectively. The stock had formed a reversal Hammer like candlestick pattern as on August 23, 2019 and thereafter bounced sharply till its previous resistance level of Rs 330. Considering the daily time frame, the stock had recently given Adam and Adam double top patterns neckline breakdown along with relatively higher volume, which indicates correction before another northward journey. With this bearish formation, the stock has also managed to close below its weekly pivot and short term moving averages, i.e its 13-day EMA and 20-day EMA. The leading indicator, 14-period daily RSI, is currently quoting at 40 and it has recently given an upward sloping trendline breakout. On the direction index, the bearish strength is higher than the bullish strength as +DI is much below the -DI. Moreover, there has been a negative divergence between the daily RSI, daily stochastic and the stock price movement, which suggests limited upside. Considering all of the above factors we recommend you to book profit in Hindustan Petroleum Corporation at the current market price.