Two stocks to stay away from

Published March 29, 2019

Lupin Limited (LUPIN.NS) Close: 724.85

Lupin Limited has broken down through the falling trend channel in the medium term, which indicates an even stronger falling rate. In February the stock gave a sell signal from a rectangle and a head and shoulders formation. It also broke down through major support levels and is now at its lowest since 2013. Further downside is anticipated. The target from the formations is around 682 rupees but the stock may fall further. There is resistance between 735 and 763.

Negative volume balance indicates that sellers are aggressive while buyers are passive, and weakens the stock. The stock is overall assessed as technically negative for the medium term.

Recommendation one to six months: Negative

Hero MotoCorp Limited (HEROMOTOCO.NS) Close: 2525.75

Hero MotoCorp Limited is in a falling trend channel in the medium long term. This shows that investors over time have sold at lower prices to get out of the stock, and indicates negative development for the company. The stock has resistance at rupee 2700.

Short term volume balance is negative and the RSI curve shows a falling trend, which supports the negative trend. The stock is overall assessed as technically negative for the medium long term.

Recommendation one to six months: Negative

The analyses are based on closing price as per March 28, 2019. Maintaining proper stop loss is always recommended.

Skrevet af

Kiran R. Shroff
Analytiker
i Investtech

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Archive:

27 March: Recent breakouts in three stocks, short term opportunity

21 March: Three buy and one sell

12 March: Cement stocks are posing good opportunity

08 March: Clear breakout and reversal from intermediate downtrend

07 March: Deepak Nitrite Limited looks promising to enter into a trade

06 March: Three buy candidates for medium to long term

28 February: Breakout in these three stocks invites for early opportunity

26 February: Two buy opportunities for the near term future

21 February: Stocks with RSI above 70, based on our research 

19 February: Close to selling point, time to be cautious 

15 February: These two sugar stocks look promising 

14 February: Three short to medium term opportunities 

08 February: One buy and one sell in stocks while index suggests caution 

06 February: One buy and one sell, short to medium term opportunities 

01 February: Upside breakout from price formations 

30 January: Buying opportunity: Reversing from trend channel support 

9 January: One positive and one to stay away from 

2 January:  A good investment opportunity 

2018

21 December:  Good buying opportunities

14 December:  Positive on these three stocks

11 December:  One buy and one sell signal

07 December:  Sell Signals in Three Big Stocks

04 December:  Highest scorer of our Top 50 list

30 November: Positive stocks with 5-11 per cent upside potential

28 November: Buy signal on high volume

27 November: One Buy and One Sell Signal

23 November: Fear dominates these stocks

21 November: Sell signal, time to stay away

20 November: Early opportunity from short term buy signal?

16 November: Two Buy Signals and One Sell Signal

15 November: Buy signal in this one

14 November: Solid buy signal

13 November: Big auto stocks comparison

09 November: What to wait for?

06 November: Banking stocks look positive

02 November: Positive on this one

01 November: TECHM, NIFTY50 and Hausse

31 October: What are investors thinking?

30 October: Bullish on these three stocks

26 October: Three potential candidates to ride on

24 October: Three big Metal stocks, Seasonal variation

22 October: Among top performers on our Top 50 list

18 October: Three stocks investors should stay away from

17 October: Flowing against the tide

16 October: Positive on these 2 stocks

11 October: Over 45 per cent rise

10 October: 3 negative stocks

9 October: The Indian banking space

5 October: Nifty closes at a crucial level

2 October: Price formations in the long-term charts

28 September: Positive on Biocon Limited

26 September: Bearish outlook

25 September: 3 solid buys

20 September: State Bank of India story!

18 September: Weekly technical analysis

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Investeringsanbefalinge(r)n(e) er udarbejdet af Investtech.com AS ("Investtech"). Investtech garanterer ikke for fuldstændigheden eller rigtigheden af analysen. Eventuel eksponering i forhold til de råd / signaler, som fremkommer i analyserne, står helt og holdent for investors regning og risiko. Investtech er hverken direkte eller indirekte ansvarlig for tab, der opstår som følge af brug af Investtechs analyser. Oplysninger om eventuelle interessekonflikter vil altid fremgå af investeringsanbefalingen. Yderligere information om Investtechs analyser findes på infosiden.

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