I own shares in Cummins India and bought them at an average price of ₹1,829. I'm a long-term investor. Suggest target and stop loss levels based on technical analysis.
Suhas Vaidya (Pune)
Cummins India (₹3,030.55): Stock prices are now in uncharted territory. The trend is up and very strong. There are no signs of a reversal yet. Since the stock price is in uncharted territory, exact resistance and target levels are difficult to obtain. It is also difficult to find reversal points unless the price falls naturally. Therefore, you need to stay on trend. You have a very good profit, so it is important to protect it now.
Support is around ₹2,600. For the trend to turn bearish, Cummins India stock price needs to fall below ₹2,600. That seems less likely now. Therefore, keep your stop loss at ₹2,450. If Cummins India stock price rises to ₹3,100, move your stop loss to ₹2,780. You can consider offloading 40% of your holdings for ₹3,400. Keep the stop loss on the balance at ₹3,220. After that, for every ₹80 increase in the stock price, increase your stop loss by ₹50. Continue this until you reach your stop loss.
What is the outlook for Landmark Cars stock price? I bought this stock for 780 yen. Should I continue holding it or should I withdraw? Please let me know.
Saranya Ghosh Sinha
Landmark Car (₹1115.30): The short-term outlook is bullish. Since June last year, the stock has enjoyed very strong support in the ₹700-650 region. The recent rally, which has been going on since last month, has come from a low of ₹675. Crossovers between the moving averages on the daily chart also add to the bullish outlook in the short term. Support clusters are located in the ₹775-730 region. Landmark Cars' share price could rise to between 900 and 920 pounds over the next two to three months. The area around ₹920 is a key resistance level. Therefore, price movements around that level will need to be monitored very closely.
If there is a reversal from around ₹920, the price may fall again to ₹800-700. However, a strong break above ₹920 will increase bullish momentum. If that happens, Landmark Cars' share price could rise up to ₹1,050. For now, keep the stop loss at ₹685 and hold the stock. If the price rises to ₹880, fix your stop loss to ₹810. He sells his 50% of his holdings at ₹910 and moves his stop loss on the remaining holdings to ₹870. Once the price reaches ₹960, move your stop loss to ₹905. Close remaining position at ₹1,040.
I own shares in FSN E-Commerce Ventures (Nykaa). I bought it for ₹152. I have a stop loss of ₹148 in my head. Where can I exit from this stock and lock in profits? Please guide me.
Sabera Begum, Gulbarga
FSN E-Commerce Ventures (Nykaa) (₹268.50): The short-term outlook is bullish. Support is around ₹150. The current resistance is ₹170. A decisive break above this resistance could further increase the bullish momentum. With such a break, FSN E-Commerce (Nykaa) stock price is likely to aim for ₹200 in the next 2-3 months. If the stock can break above ₹205, the upside could extend up to ₹230. Keep stop loss at ₹148 for now.
As soon as the stock goes up to ₹185, raise it up to ₹175. He exits his 50% of his holdings at ₹200 and fixes his stop loss on the remaining holdings to ₹190. Once the price rises to ₹218, move your stop loss further to ₹210. Let go of the remaining shares at ₹225.
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