Please give the technical outlook on Tata Global Beverages.

Panini Deshpande

Tata Global Beverages (₹141.1): Since encountering resistance at ₹170 in November 2013, Tata Global has been on a medium-term downtrend. Last month, the stock emphatically breached its key support as well as 200-day moving average around ₹150 and is hovering well below it. The short-term outlook is bearish. A conclusive fall below the immediate support at ₹135 can pull the stock down to ₹125 in the short-term. Significant resistances to note are at ₹150, ₹161 and ₹170.

Can I hold Emco bought at ₹30 for long-term?

Venkatesh

Emco (₹25.8): The stock has been on a medium-term uptrend, after finding support at its multi-year low at ₹10.3 in late July 2013. However, it encountered resistance in the band between ₹28 and ₹30 in January 2014, and started to decline. The stock has immediate key support at ₹23 and ₹20 and can resume its medium-term uptrend from these levels. Long-term investors can hold the stock with a stop-loss at ₹17. A decisive fall below ₹17 can pull the stock down to ₹14 or even to ₹10. Strong breakthrough of the resistance band between ₹28 and ₹30 can take the stock northwards to ₹40 or ₹50 in the long-term.

Please provide outlook on JK Lakshmi Cement bought at ₹85 and Heritage Foods bought at ₹220.

Raj kumar

JK Lakshmi Cement (₹66.6): The stock has been on a long-term downtrend from its all-time high at ₹171 recorded in January 2013. The short-term trend is also down. The stock encountered resistance around ₹87 in early January 2014, and has been trending lower. However, the stock is now testing support at ₹65. Strong fall below this support will strengthen the long-term downtrend and pull the stock down to ₹50 and then to ₹40 in the ensuing months. Next important support is at ₹36. You can exit the stock now. On the upside, it has key resistance at ₹77 and ₹87. To alter the long-term downtrend, the stock needs to rally above its key resistance at ₹110.

Heritage Foods (₹209.5): After testing its key long-term resistance around ₹235 in mid-January 2014, the stock started to trend lower. Nevertheless, the stock has significant long-term support at ₹200 from which it has reversed higher. You can consider holding the stock with a stop-loss placed at ₹195. An upward reversal from the ₹200 support can take the stock northwards to ₹235. But, the stock needs to decisively breach ₹235 for an up move to ₹260. This level is an important long-term resistance which has restricted the stock from moving up. Strong break-out of ₹260 will give a long-term target of ₹300. Conversely, a strong fall below ₹200 will pave way for a fall to ₹170 and ₹150. Could you please tell me the prospects of United Phosphorus (UPL) and Nucleus Software?

Madhava Rao

UPL (₹189.1): UPL has been in a medium-term uptrend since its August 2013 low of ₹121 and is testing an important support around ₹188. A strong breach of this this level will weaken the bullish momentum and pull the stock down to ₹160 and then to ₹150 in the medium-term. Next important support below ₹150 is at ₹130. The stock can encounter resistance at ₹200 and then at ₹220 which is a significant long-term resistance. Only a conclusive breakout of ₹220 will infuse fresh bullish momentum in the long-term.

Nucleus Software Exports (₹183): The stock’s medium-term uptrend that commenced from the August 2013 low of ₹65 is still in place. However, following a sharp rally in recent times, the stock has encountered a strong resistance in the band between ₹180 and ₹200. Important resistance above ₹200 is at ₹225. Currently, the daily volumes are declining and indicators are hovering in the overbought levels implying that the bullish momentum is dwindling. Investors can book partial profits at this juncture. Strong decline below the immediate support at ₹150 can pull the stock down to ₹130 and then to ₹120 in the medium-term. Please give the medium and long-term outlook on Adani Power bought at ₹40.

Ranjith

Adani Power (₹32.6): Adani Power has been on a long-term downtrend ever since it encountered a key resistance at ₹144 in November 2010. Even medium and short-term trends are down. The stock is just hovering above its significant long-term support zone between ₹29 and ₹31. There are no supports below this band, and a decisive fall can reinforce bearish momentum and pull the stock to new lows. Important medium and long-term resistances are pegged at ₹40, ₹52 and ₹62.

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