You are here: Home » Companies
Business Standard

Is the time right to book profit in Nifty stocks? Here's what charts say

Is the time right to book profit in Nifty stocks? Here's what charts say

This is article Banner

The ongoing trend in the indices suggests resistance at higher levels, although they are not indicating any correction as higher levels are tested again and again. It could be a case wherein the selling pressure is getting absorbed; however time will unfold the next move. During the uncertain scenario, the question arises as to what should be done to safeguard one’s investment in Nifty50 stocks. There are eighteen stocks in the index which are trading near their 52-weeks high and two of them are close to hit a new high (Kotak Mahindra Bank and Larsen and Turbo).

As mentioned in several technical analysis books that 'Trend is a friend', one needs to keep proper support level to ride the rising stocks. The feeling of “opportunity loss” may haunt many; however keeping proper support level will not only give a sense of security but will also help to leverage other non-performing stocks. Once the support level is broken, one can start booking profits, as per the chart. Three stocks that are trading near their 52-week lows are Mahindra & Mahindra, Hero MotoCorp, and Maruti Suzuki India. The trend seems negative, but, if these stocks form consolidation in an immediate term, then one can look for buying opportunities.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient – Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
First Published: Thu, May 02 2019. 15:41 IST
RECOMMENDED FOR YOU