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

I bought shares of Infibeam Incorporation at ₹956. Should I hold or sell the shares at the current price.

D Krishnan

Infibeam Incorporation (₹1,038.6): Since listing in April 2016, the stock of Infibeam Incorporation has been in a long-term uptrend. However, after recording a new high of ₹1,447 in February 2017, the stock started experiencing selling pressure and began to decline. In late March, it tumbled sharply, retracing the 50 per cent fibonacci retramcent level of the prior uptrend and found support at around ₹915 in April. The stock has been in a near-term uptrend since then, but faces difficulty in sustaining this trend. It now tests a key resistance in the band between ₹1,050 and ₹1,100. You can consider taking partial profits off the table if the stock once again struggles to move beyond ₹1,100 levels in the short term. A strong break above ₹1,100 can take the stock higher to ₹1,200, which is a key medium-term resistance level to note.

Further break-out of this hurdle is needed to strengthen the bullish momentum and push the stock higher to ₹1,300 and ₹1,400 in the medium to long-term. On the other hand, an emphatic downward break of the immediate support in the ₹915-950 will bring back selling pressure and pull the stock down to ₹850. Investors with a long-term perspective can hold the stock and accumulate on declines with a stop-loss at ₹835 levels. But a decisive downward break of ₹850 can pull the stock down to ₹800 levels.

What are the medium and long-term support and resistance levels for the stocks of MTNL, HFCL and Parenteral Drugs India.

Gautam SK

Mahanagar Telephone Nigam Ltd (₹23.9): The stock's intermediate-term uptrend that commenced from the key support level of ₹15 in November 2016, encountered resistance at ₹27 last month. Subsequently, triggered by negative divergence in the daily indicators, the stock began to decline. Last week, it plunged 8 per cent breaching the uptrend line decisively. Now, it can extend its down-move and test a long-term support in the ₹20-21.5 band. Strong fall below ₹20 can pull the stock down to 18 and then to ₹15 in the medium term. Nevertheless, resumption of the uptrend from the long-term support band between ₹20 and ₹21.5 can re-test the resistance of ₹27 in the medium term. An upward break of ₹27 can take the stock higher to ₹30 and then to ₹33 or even to ₹35 in the long run.

Himachal Futuristic Communications (₹14.5): The stock has been facing difficulty in moving above the key long-term resistance band between ₹20 and ₹22 since late 2014. To strengthen the bullish momentum, the stock needs to conclusively break above this barrier for an up-move to ₹30 and then to ₹35. Immediate resistances are at ₹16 and ₹18. Slump below the immediate base level of ₹14 can pull the stock down to ₹12.5 or ₹12 in the medium term. Further decline can drag the stock to ₹11 and ₹10.

Parenteral Drugs India (₹26.4): The stock is in a downtrend across all time frames. Since February, it has been facing difficulty in surpassing a key long-term resistance level of ₹30. An emphatic break above this level will alter the short-term trend up and take the stock higher to ₹37 and then to ₹43 in the medium term.

But inability to move beyond ₹30 will keep the stock in a sideways consolidation phase with negative bias. In that case, the stock can test supports at ₹22 and ₹19. Conclusive slump below ₹19 can pull the stock down to ₹16 or ₹15 levels.

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