Your Stock Portfolio. Colourful outlook for Asian Paints

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

What is your view on Asian Paints?

Biswajit Das

Asian Paints (₹656.1): The stock of Asian Paints has been on a long-term uptrend since recording a low of ₹68 in early 2009.

This uptrend will stay in place as long as the stock trades above ₹375 levels. Investors with a long-term horizon can consider holding the stock with a stop-loss at ₹375 levels.

Medium-term trend is also up for the stock. However, the short-term trend is sideways in the band between ₹600 and ₹680.

A strong fall below the lower boundary at ₹600 will drag the stock down to ₹550 in the short- to medium-term time frame.

The next key long-term supports are at ₹500 and ₹455 levels.

An upward breakthrough of ₹680 will extend the stock's long-term uptrend and take it higher to ₹700 and then to ₹750 in the medium term.

Please advise on the outlook of KNR Constructions and OnMobile Global for the short- and medium-term.

Prabhakar Rao

KNR Constructions (₹292.1): In May 2014, the stock emphatically broke out of a significant long-term resistance at ₹120 and extended its rally to mark an all-time high of ₹322 in September.

However, the stock has been on a sideways movement in the range between ₹250 and ₹320 since then.

The indicators in the weekly chart are weakening and signalling a trend reversal.

Traders with a short- to medium-term perspective should therefore tread with caution at this juncture.

A fall below ₹250 will have bearish implications, and pull the stock down to ₹220 or ₹200 levels in the medium term.

A decisive fall below ₹180 will mar the long-term uptrend and pull the stock down to support levels of ₹140, ₹120 and ₹100.

To reinforce bullish momentum, the stock needs to break the upper boundary of its sideways movement at ₹320, which could take it higher to ₹360.

OnMobile Global (₹39): On Friday, the stock skyrocketed 19 per cent, taking its weekly gains to 24.6 per cent.

Following this up-move, the stock now tests the upper boundary of the broad sideways range between ₹26 and ₹39. It hovers well above its 50- and 200-day moving averages.

A conclusive breakout of the key resistance is likely in the coming trading sessions.

This will strengthen the stock’s up move and take it higher to ₹45, ₹50 and then to ₹55 in the short- to medium-term.

Traders can consider buying the stock with a stop-loss at ₹35. A breach of the significant resistance at ₹55 is required for a long-term up-move to ₹68 and then to ₹80. Important supports to note are at ₹35, ₹30 and ₹26 respectively.

Please give the six-month technical outlook on Clutch Auto.

Milind Suryarao

Clutch Auto (₹23.3): After every sharp rally, the stock has witnessed selling pressure and corrected. Recently, the stock rallied sharply to ₹32.7in early September, and a subsequent corrective fall is in progress.

The stock now tests support at ₹23. An upward reversal from this support level can take the stock higher to ₹26, ₹29 and then to ₹32 in the short- to medium-term.

The long-term resistance at ₹32 needs to be breached for an up-move to the levels of ₹36 and ₹40. Key resistance beyond ₹40 is at ₹45.

Having said that, a fall below the immediate support level will drag the stock down to the next key base level of ₹18 in the medium term.

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