Your stock portfolio

I am holding shares of Claris Lifesciences purchased at ₹198. Kindly advise the technical outlook.

Ravi Joshi

Claris Lifesciences (₹170.8): The pharma stock has been on an intermediate-term sideways consolidation phase in the band between ₹165 and ₹205 since July 2013. Last month, hitting the upper boundary, the stock reversed lower breaching its 200-day moving average. Nevertheless, the stock is hovering above its significant long-term support at ₹165. You can hold the stock with a stop-loss at ₹162. An upward reversal from the long-term support can take the stock higher to ₹205 in the medium-term. An emphatic breakthrough of ₹205 is needed to take the stock higher to ₹230 and ₹250 in the long-term. But, a plunge below ₹165 will pave the way for a decline to ₹142. Key support below ₹142 is in the range between ₹100 and ₹110.

Please give your long term technical outlook for PC Jeweller and Orient Cement.

Eldho Mathew

PC Jeweller (₹76.2): Since its January 2013 peak of ₹194, the stock has been on a long-term downtrend. Nevertheless, the stock found support at ₹65.9 in late July 2013 and started to move sideways in a wide range. The stock is currently hovering just above the long-term support band between ₹65 and ₹72. A decisive fall below this band will reinforce the bearish momentum and pull the stock to new lows. An upward reversal can keep the stock moving sideways in the wide band between ₹65 and ₹105. Immediate resistances are at ₹85 and ₹95. Strong rally above ₹130 is needed to alter the stock's long-term downtrend.

Orient Cement (₹38.8): Orient Cement has a short history as the stock was listed only in July 2013. With this limited data, we can decipher that the stock has been on a sideways movement in the band of ₹32 and ₹43 since late July.

However, to envisage a clear long-term trend or view with the available data is difficult. Immediate support is at ₹35 and resistance is at ₹43.

A strong upward breakthrough of ₹43 can take the stock northwards to ₹54 and then to ₹60 in the forthcoming month. Conversely, a conclusive fall below ₹32 can drag the stock to new lows.

I request technical long-term (one year) outlook on ICICI Bank.

Pandurang D

ICICI Bank (₹961.7): After failing to surpass the important long-term resistance at ₹1,200 for the third time in early December 2013, the stock started to decline. Since then, the stock has been on a short-term downtrend. However, it is now testing long-term support in the band between ₹950 and ₹1,000, which is also a crucial trend-deciding level. An emphatic fall below this band can pull the stock down to ₹880 and then to ₹800 in the medium to long-term.

An upward reversal from the aforesaid support can take the stock higher to ₹1,050 and ₹1,100. Next significant long-term resistance is at ₹1,200. A clear breakout of this resistance can push the stock higher to ₹1,300 in the long-term.

I am keen on adding HDFC Bank and Lupin to my portfolio. Kindly suggest a good price to buy and when, approximately, it is expected in the short-term.

Vimal Bhatia

HDFC Bank (₹647.9): HDFC Bank has been on a long-term uptrend since its early 2009 trough at ₹155. After registering a new high at ₹727 in May 2013, the stock started to consolidate in a wide range of ₹590 and ₹725. The stock is currently in a short-term downtrend. Investors with a medium-term perspective can make use of the decline to buy the stock with a stop-loss at ₹580.

An upward reversal from the key support band between ₹590 and ₹600 can push the stock to the upper boundary of ₹725 in the long-term. Immediate resistances are at ₹680 and ₹700. But a downward breakthrough of support at ₹590 can drag the stock down to its subsequent long-term support at ₹510. Investors with a low-risk appetite can wait and buy at lower levels with a stop-loss placed at ₹485 levels.

Lupin (₹919.9): The stock is hovering near its new high marked at ₹951 early last month. Moreover, the stock is also facing key resistance at ₹940. Wait for corrective declines and buy the stock at its important support zone between ₹830 and ₹840.

Significant support below ₹830 is at ₹800. Key resistance is at the ₹940 and ₹950 band. The stock has been on a medium-term sideways consolidation in the range between ₹840 and ₹950 from early October 2013. Even the short-term trend is also sideways within this range.

The key long-term support is pegged in the band between ₹740 and ₹750 which is an important support to watch out.

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