Technical Analysis: CE Info Systems, Rajesh Exports and Hinduja Global Solutions

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What is the outlook for CE Info Systems (MapmyIndia)? I have bought this stock at ₹2,150. I can hold it for a minimum of three years. What are the important levels to watch? If I can accumulate, where should I do?

Amit Kapoor

CE Info Systems (MapmyIndia) (₹2,243.90): The stock has got listed in December 2021. So, it has very limited data to do a detailed technical analysis for your holding period of three years. However, with the limited data available, we have tried to forecast this stock. The trend is up. Strong support is now in the ₹2,100-2,000 region. As long as the stock stays above ₹2,000, the uptrend will remain intact. The stock has room to test ₹2,500 over the next two-three months. A break above ₹2,500 will pave way for a further rise to ₹2,800.

Beyond that, it is difficult to forecast due to the limited historical data availability. You can accumulate if a dip to ₹2,080 is seen. Keep a stop-loss at ₹1,970. Move the stop-loss up to ₹2,350 as soon as the stock reaches ₹2,550. Move the stop-loss further up to ₹2,600 when the price touches ₹2,750. You can keep revising your stop-loss higher by ₹100 for every ₹200-upmove.

I have shares of Rajesh Exports bought at ₹525. What is the outlook for this stock?

Srinivas

Rajesh Exports (₹377.40): The stock has declined below a crucial support region of ₹440-420 last week. This has brought the multi-year sideways consolidation movement to an end. The outlook is bearish now. There is a support near the current levels at ₹355. It will have to be seen if the stock can sustain above this support and moves back up above ₹450. If that happens, then the downside pressure could ease. However, even in that case, Rajesh Exports share price will have to rise past ₹600 to become convincingly bullish again.

As long as the stock trades below ₹450, the danger of breaking below ₹355 will remain alive. A break below ₹355 can see Rajesh Exports share price tumbling towards ₹200, going forward. It is better to exit the stock at the current levels and accept the loss. Continuing to hold the stock with the hope of getting a reversal might end up in more loss.

I have bought Hinduja Global Solutions shares. My average purchase price is ₹1,125. Is it a good time to accumulate the stock at the current levels? Or should I book loss and exit?

Rajeev, Mumbai

Hinduja Global Solutions (₹959): The stock is now hovering above a very crucial support. The region between ₹935 and ₹920 is important to watch. The stock has to hold above this support zone and rise past ₹1,050 to avoid the danger of breaking below ₹920. Only in that case, the chances of revisiting ₹1,400 and ₹1,600 will come back into the picture.

In case, the stock declines below ₹920, it will come under more selling pressure. In that scenario, Hinduja Global Solutions share price can tumble to ₹700-650 in the coming months. If you can withstand some more loss, then keep a stop-loss at ₹910 and hold the stock. See if a bounce is happening from here or not. If a rise above ₹1,050 happens over the next couple of months, then you can wait for the level of ₹1,600 to exit. But if the stock declines below ₹920, then exit at ₹910.

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