Here are some answers to readers’ queries on the performance of their stock holdings.

Can you please give the technical outlook on NCC and India Cements?

Suresh Rane

NCC (₹54.55): The stock has been on an intermediate uptrend since forming a strong base at ₹18 in September 2013. In late March, it decisively breached its key long-term resistance at ₹35 and accelerated sharply.

This uptrend will remain intact as long as the stock trades above ₹35. Investors with medium-term perspective can consider holding the stock with a stop loss at ₹33.

The stock has closed just above an important resistance at ₹54 last week.

If it continues to remain above this level, it is likely to rise to the level of ₹64 — its 200-week moving average resistance — in the coming weeks.

A strong breach of ₹64 will reinforce bullishness and pave way for an up move to ₹78 and ₹100 in the long term.

On the other hand, an emphatic fall below ₹35 will mitigate this uptrend and pull the stock down to ₹30 and then to ₹24 in the medium term. Key long-term support is pegged at ₹18.

India Cements (₹70.45): The stock’s key support band between ₹43 and ₹46 provided cushion in January 2014. Since then, it has been on a medium-term uptrend.

However, to sustain this uptrend, the stock needs to conclusively breach the key resistance at ₹80, which is the 50 per cent Fibonacci retracement level of its prior downtrend.

In such a scenario, the current uptrend can extend to ₹91 and then to ₹102.

Investors can hold the stock with a stop loss at ₹58. Inability to move above ₹80 can keep the stock range-bound between ₹60 and ₹80.

On the downside, a strong weekly close below ₹60 will strengthen the stock’s long-term downtrend and drag it lower to ₹50 or even further down to ₹43-₹46 band in the medium term.

Please give the long term (1 year) outlook on the stocks of GSK Pharma and HUL

Pandurang D

GlaxoSmithKline Pharmaceuticals (₹2450.45): The stock has been on a sharp downtrend from its all-time high of ₹3,054 recorded in early March this year.

In a short span of just two weeks, it plunged almost 20 per cent recouping its gains from mid-December 2013.

Nevertheless, the stock hovers above a significant long-term support range between ₹2,350 and ₹2,400.

Failure to hold above this support zone will mitigate the uptrend and pull the stock down to ₹2,200. Next key support zone is in the ₹1,950-₹2,000 range. As long as the stock trades above this support zone, its long-term uptrend will remain in place.

Strong up move above the immediate resistance at ₹2650 will reinforce the bullish momentum and accelerate the stock northwards to ₹2,800, ₹2,900 and then to ₹3,050 in the long term.

Hindustan Unilever (₹580.7): The stock has been in a structural uptrend forming higher peaks and troughs ever since it took support at ₹220 in early 2010.

Its recent corrective downtrend from the record high of ₹725 recorded in July 2013 found base at its long-term support band between ₹540 and ₹550 in January and again in late March 2014.

Subsequently, the stock started trending upwards.

This support band can cushion the stock’s current fall. But failure to do so can drag it lower to ₹518 and to ₹500 in the medium term.

Next key supports below ₹500 are pegged at ₹460 and ₹440. HUL has immediate resistance at ₹615; a decisive breach above this level can take it higher to ₹655 and ₹680 in the medium term. Long-term target for the stock is ₹720.

Send your queries to techtrail@thehindu.co.in

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