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I own shares of Tata Power at ₹62. Is it the right time to book profits, since the share crossed ₹100 recently?ArunachalamTata Power Company (₹113.2): The stock of Tata Power Company has been on an up ....
Tech query: Cipla on a short-term downtrend Pradeep Kabra Cipla (₹805.4): The stock of Cipla is on an uptrend in the long as well as the medium term. However, in the short term, the stock has been on a downtrend since it recorded a new high of ₹878 in early February this year. In March 2020, it took support at ₹356 and reversed direction. Since then, the stock has been on a long-term uptrend. In April 2020, it decisively breached a key hurdle at ₹480 and thereafter at ₹560, and has never revisited these levels since then. The stock continued to trend upwards. In November 2020, the stock took support at around ₹710 and continued to trend upwards. But then, it met with a key barrier at ₹860 in early January and again in early February this year, and started to trend downwards. ....
Tech query: Tata Motors-DVR reverses down from key hurdle Jitendra K Sarawgi Tata Motors-DVR (₹123.4): Since bottoming out in March 2020 after registering a 52-week low at ₹28, the stock of Tata Motors-DVR has been on an intermediate-term uptrend. It has delivered good returns since the March low. In January this year, the stock breached a key long-term resistance at ₹80 and continued to accelerate, thereafter breaching another resistance at ₹100. However, it recently encountered a resistance at around ₹140 and began to correct. The stock declined 6.3 per cent last week, and has formed a bearish engulfing candlestick pattern on the weekly chart that has short-term bearish implications. ....
Tech query: SpiceJet on minor corrective mode Prasad Vemuri SpiceJet (₹93.8): The stock of SpiceJet broke out of a significant medium-term resistance at ₹55 in mid-November and subsequently breached a key long-term resistance at ₹60 and skyrocketed sharply, gaining 31 per cent in second week of November. Thereafter the stock continued to trend upwards, surpassing key barriers at ₹75 and ₹90. After a blip above ₹100, the stock encountered a key resistance at ₹107 and changed direction in mid-December last year. Since then, it has been on a short-term downtrend. The stock has now paused above a key base level of ₹90. A strong plunge below this base can pull the stock down to the next base level of ₹80 in the coming weeks. Any further fall can bring back selling pressure and pull the stock lower to the key medium-term trend-deciding level of ₹70. An emphatic plunge below this base will mar the medium-term uptrend that has been in place from the e ....