FIEMIND

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE - - Ji­jith TK

I bought the shares of Fiem In­dus­tries at Rs 590 for the short term, but I have seen stock fall­ing con­tin­u­ously. What to do now?

EXIT FIEM IN­DUS­TRIES

Fiem In­dus­tries Ltd is cur­rently trad­ing at Rs 571. Its 52-week high/low stand at Rs 1057.95/Rs 471.10 made on Jan­uary 5, 2018 and Oc­to­ber 5, 2018, re­spec­tively. The stock wit­nessed break­down from the rec­tan­gle pat­tern in the month of June 2018 and went on to mark 52-week low in the month of Oc­to­ber. Af­ter reg­is­ter­ing 52-week low, the stock wit­nessed a pull­back rally of about 38 per cent and, there­after, the stock is seen trad­ing in a nar­row con­tract­ing con­sol­i­da­tion range with a neg­a­tive bias. The stock is trad­ing be­low its im­por­tant mov­ing av­er­age, i.e. 200-day EMA on the daily chart and also its 100-week EMA on the weekly chart, which is a neg­a­tive for the stock. On the weekly RSI, it has wit­nessed a neg­a­tive cross­over. Hence, we sug­gest ex­it­ing the stock on a bounce-back.

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