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Portfolio Review: ICICI Bank, L&T, JSW Steel, Vedanta, Emami and National Aluminium

Goodluck Capital offers Investment Advisory and Portfolio Analysis services. We provide existing stock reviews in your portfolio as per your need.

An existing Ultra subscriber from Jaipur has assigned us for his portfolio analysis . He needs a general review of his existing stock holdings.

  • ICICI Bank
    (NSE: ICICIBANK)

    Qty - 1503
    -----------------------
    Avg. cost - 368.6/-
    Total cost - 5,54,005/-
    -----------------------
    Current price - 334.85/-
    Current value - 5,03,279/-

  • Larsen & Toubro
    (NSE: LT)

    Qty - 500
    -----------------------
    Avg. cost - 1226.2/-
    Total cost - 6,13,095/-
    -----------------------
    Current price - 851.2/-
    Current value - 4,25,600/-

  • JSW Steel
    (NSE: JSWSTEEL)

    Qty - 750 
    -----------------------
    Avg. cost - 262/-
    Total cost - 1,96,500/-
    -----------------------
    Current price - 153.25/-
    Current value -1,14,937/-

  • Vedanta
    (NSE: VEDL)

    Qty - 2000
    -----------------------
    Avg. cost - 135.67/-
    Total cost - 2,71,340/-
    -----------------------
    Current price - 77.95/-
    Current value - 1,55,900/-

  • EMAMI
    (NSE: EMAMILTD)

    Qty - 500
    -----------------------
    Avg. cost - 280.26/-
    Total cost - 1,40,130/-
    -----------------------
    Current price - 198.6/-
    Current value - 99,300/-

  • National Aluminium
    (NSE: NATIONALUM)

    Qty - 4000
    -----------------------
    Avg. cost - 39.75/-
    Total cost - 1,59,000/-
    -----------------------
    Current price - 31.5/-
    Current value - 1,26,000/-

Table of Contents

ICICI Bank Technical Analysis

ICICI Bank Technical Analysis - Weekly Chart
ICICI Bank Technical Analysis - Weekly Chart
  • Price was in uptrend since 2016.
  • Uptrend accelerated from Mid-2018.
  • Stock price has slipped into sharp decline during March 2020. Downside breakout confirmed.
ICICI Bank Technical Analysis - Daily Chart
ICICI Bank Technical Analysis - Daily Chart
  • Daily price is moving between Upward sloping consolidation zone.
  • An Upside or Downside breakout will happen in near days.

CONCLUSION
Accumulate this stock in between 230-270 which is a major support.
ICICI Bank share price target 480-550.

Larsen & Toubro Technical Analysis

Larsen & Toubro Technical Analysis - Weekly Chart
Larsen & Toubro Technical Analysis - Weekly Chart
  • Since 2009, L&T share price is clearly in Uptrend.
  • Uptrend accelerated further in the mid of 2013 and make high near 1600.
  • Major Support still holds. 

CONCLUSION
Share Price may test major support again.
Accumulate this stock in between 670-750.
L&T Price Target: 1400-1500.

JSW Steel Technical Analysis

JSW Steel Technical Analysis - Weekly Chart
JSW Steel Technical Analysis - Weekly Chart
  • JSW Steel witnessed a strong rally during 2013-2019, rallying from ₹46 to lifetime high of ₹427.55
  • Sharp uptrend breakout in July 2019 and price fall to ₹140 which is a strong support.
  • Breaking this support will push the price further below at 85.
JSW Steel Technical Analysis - Daily Chart
JSW Steel Technical Analysis - Daily Chart
  • Rising wedge formation.
  • Gap down and Downside price breakout.
  • Price may reach 130-140.

COMMENT
Sooner or later, the stock may test 130-140 again. This could be a potential buying opportunity considering the support holds. 
JSW Steel Price target: 260 – 280

Vedanta Technical Analysis

Vedanta Technical Analysis - Weekly Chart
Vedanta Technical Analysis - Weekly Chart
  • Vedanta share price had already tested the yearly support at 60.
  • Currently, the price is consolidating in between the highlighted area.

CONCLUSION
Accumulate this stock at 60-65.
Vedanta target will be 110-115.
After the resistance breakout near 115, the price may go further upwards near 200.

Emami Limited Technical Analysis

EMAMI Limited Technical Analysis - Weekly Chart
EMAMI Limited Technical Analysis - Weekly Chart
  • Weekly support as shown in the chart as Support 1, 2 and 3.
  • Breaking each support can push the price further downwards to the next support.
EMAMI Limited Technical Analysis - Daily Chart
EMAMI Limited Technical Analysis - Daily Chart
  • Price breakout in daily chart.

CONCLUSION
Accumulate this stock near 130-150.
Emami Limited target will be 350-400

National Aluminium Technical Analysis

National Aluminium Technical Analysis
National Aluminium Technical Analysis - Daily Chart
  • (1) Uptrendline. Currently price at support.
  • (2) Long term Monthly Support. Great buying opportunity near 24.
  • (3) Huge volume sold.

CONCLUSION
As long as the price is at Support, hold the position.
According to recent price development, we are expecting price breakout in near days.
Accumulate this stock near the long term support at 24-26.

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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