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

What is the long term view on Cipla?

N Panchapakesan

Cipla (₹593.2): The long-term trend is up for the stock of Cipla. However, it encountered a key resistance at ₹750 in March 2015 and again in August 2015 and started to decline. Since then, the stock has been on an intermediate-term downtrend.

Taking support in the ₹450-₹460 range in June 2016, the stock resumed its primary uptrend. After retracing 50 per cent fibonacci retracement level of the prior downtrend, the stock met with a significant resistance level of ₹610 in September 2016. It faced difficulty in surpassing this resistance level in early February this year. The stock has been on a sideways movement in the ₹575-610 range over the last three months. Within this band, the stock now faces resistance ahead at ₹610 levels. An emphatic breakout of this hurdle will strengthen the stock's long-term uptrend and take it higher to ₹650 and then to ₹690 in the medium to long term.

Further break above the key resistance between ₹690 and ₹700 can push the stock northwards to ₹750 levels. Investors with a long-term perspective can hold the stock with a stop-loss at ₹545. They can also consider accumulating the stock on a decisive rally beyond ₹610 levels.

On the other hand, a conclusive plunge below the immediate support level of ₹575 can pull the stock down to the key medium-term support level of ₹550. Further slump below this base can bring back selling pressure and drag the stock down to ₹530 and then to ₹500 levels.

What are your views on the stock of Karur Vysya Bank purchased at ₹100?

N Raman

Karur Vysya Bank (₹109.7): Significant long-term support at ₹80 provided a base for the stock of Karur Vysya Bank during February 2016 and again in November as well as December 2016. The stock subsequently changed direction and started to trend upwards. Since last December, the stock has been on a medium-term uptrend. The short-term trend is also up. Recently, the stock breached its key psychological resistance level of ₹100 and gained bullish momentum. Last week, it extended its upward journey by gaining 8 per cent accompanied with above average volume. This rally has decisively breached the next key resistance level of ₹106.

The indicators as well as oscillators in the daily and weekly chart feature in the positive territory and backing the uptrend. Outlook is bullish for Karur Vysya Bank. It can extend its rally in the short to medium term.

Strong breach of the key resistance at ₹120 can push the stock higher to new highs in the ensuing months. Investors with a long-term horizon can hold the stock with a stop-loss at ₹88. Any corrective declines in the near term can find support at ₹105, ₹100 and ₹94 levels.

I have shares of Triton Valves at ₹1,170. Kindly advise regarding sell or hold.

R C Bhatia

Triton Valves (₹1,314.8): The stock of Triton Valves has been on a short-term downtrend since early February. It now tests support at ₹1,300. Strong plunge below this level can pull it down to ₹1,200. Further fall below this level will alter the intermediate-term uptrend and pull the stock down to ₹1,100 and then to ₹1,000 levels.

You can consider take partial profits off the table at this juncture and hold the stock with a stop-loss at ₹1,250. Strong rally beyond ₹1,400 can take the stock higher to ₹1,500 in the medium term.

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