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I’m holding shares of IRCTC at a mean worth of ₹861. What’s the long-term technical outlook? Can I accumulate now?
Kishan Kumar Verma
IRCTC (₹596.6): The inventory has been in a powerful downtrend. Nevertheless, a collection of helps are arising. The primary one is straight away at ₹584. The subsequent helps are at ₹555 and at ₹529. Even when a reversal is seen from any of the above-mentioned helps, an increase previous ₹760 is required to turn out to be bullish fully. However that appears unlikely on the present state of affairs. In case IRCTC breaks beneath ₹529, the draw back can lengthen as much as ₹470-460. This ₹470-460 is a powerful long-term pattern assist that may halt the present fall. A recent and robust bounce from there can breach ₹760 and revisit ₹1,200-1,300 That upmove may even have the potential to focus on ₹1,700 over the long run. Maintain the inventory provided that you may face up to the draw-down. Else exit at present ranges. For those who want to maintain it, purchase 30 per cent of what you plan to build up at ₹560. Purchase the steadiness at ₹485. Hold a stop-loss at ₹410. Transfer the stop-loss as much as ₹520 as quickly because the inventory rises above ₹780. Transfer the stop-loss additional as much as ₹820 as quickly because the inventory touches ₹1,060 on the upside. Exit 30 per cent of your holding at ₹1,250 and produce the stop-loss as much as ₹1,050 for the remainder. Have a goal of ₹1,650 for the steadiness of your holding.
I’ve purchased the shares of Dilip Buildcon at ₹264. What’s the long-term outlook for this inventory?
Sarvesh Goel
Dilip Buildcon (₹198.45): The inventory is hovering simply above a really essential long-term pattern assist poised at ₹197. One other necessary assist is at ₹170. It has to essentially maintain above ₹170 to keep away from a steeper fall beneath the psychological stage of ₹100. A break beneath ₹170 will enhance the hazard of a fall to ₹100 or ₹50. In that case, the inventory will discover it troublesome to get better sharply. Then again, if the inventory manages to maintain above ₹197 and ₹170 after which strikes above ₹270 within the coming months, then it is going to be bullish. In that case, the probabilities are excessive for the inventory to the touch ₹600-650 within the subsequent couple of years. Contemplating the quantum of fall the inventory has already seen, we place increased likelihood for the inventory to maintain above ₹170 and see a reversal. So, you may accumulate at present ranges and likewise at ₹180 if a decline beneath ₹197 is seen. Hold a stop-loss at ₹130 and maintain it for the long-term goal of ₹600. Transfer the stop-loss as much as ₹240 as quickly because the inventory rises to ₹360. Transfer the stop-loss additional as much as ₹420 when the inventory touches ₹540 on the upside.
I had purchased Greenpanel Industries at ₹233. What’s the long-term outlook? Ought to I maintain for an additional couple of years or exit?
Viswanathan
Greenpanel Industries (₹436.1): The sharp fall from the excessive of ₹625 made in April this yr clearly signifies a prime in place. There may be additionally a head and shoulder reversal sample seen on the chart. The robust uptrend that was in place since 2020 is underneath risk. The neckline stage of this sample is arising at ₹434. The subsequent assist is at ₹395 – the 38.2 per cent Fibonacci retracement stage and a long-term trendline assist can be poised round this stage. So, a break beneath ₹395 will point out a pattern reversal. Such a break can then drag the inventory all the way down to ₹320-300. It’s now necessary so that you can defend your revenue. So, you may exit at the least 30 per cent of your holding at present ranges. Place a stop-loss at ₹370 for the steadiness and maintain it. In case the inventory manages to maintain above ₹395 and strikes above ₹520, then the uptrend will stay intact. In that case, the inventory can rise to ₹750-800 and you may exit your steadiness holding at ₹750.
Revealed on
June 18, 2022
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