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Weekly Technical Pick – Cupid Ltd Author: Fintuned | Date: August 25, 2020

At Fintuned, our constant endeavour is to maximize learning while minimizing monotony, fatigue, and inattentiveness. But at this point you may ask, how the heck is conducting a technical analysis fun-to-read and it requires serious concentration to decipher. Well, we AGREE.

However, how about learning that fosters a probability to build cash flow and more than anything else, gives you an adrenaline rush to understand & build theses/ideas basis research initiated by us and test the same in real-time to ascertain the outcome. Whether you know more about technical analysis for building & testing hypotheses or conduct your own research and deploy capital to generate a portfolio, it is for sure EXCITING!

In keeping with the above-mentioned thought, we will be sharing a minimalistic, initial technical analysis on a scrip on a weekly basis. Before we share our first week’s pick, it is important that you read the disclaimers mentioned at the end of this post.

Cupid Ltd (BSE: 530843, NSE: CUPID)

Synopsis –

  • Cupid Limited has shown bullish momentum on all time frames. The following attributes have been noticed –
  1. On a weekly time-frame, price line is forming double-bottom patter or W pattern. The last leg of W is on a rising mode.
  2. RSI above 70 on all time-frames and pointing upwards shows positive momentum
  3. MACD above signal line on all time-frames qualifies as a bullish confirmation
  4. ADX at 45 on daily chart depicts strong positive trend
  • Positional price target is INR 350 with a stop loss of INR 240

 

About Cupid LTD (Company info from website https://www.cupidlimited.com/)

Cupid Limited is a leading manufacturer & supplier of quality Male condoms, Female  Condoms & Water based Lubricant Jelly. It is the first company in the world to obtain pre-qualification status from WHO/UNFPA.

Takeaway – The tickling sensation

It is aptly said that “curiosity is the beginning to wisdom” and with this post, that is our simple objective. Every week, we will provide minimalistic technical trends about a company basis our research and try and tickle your thoughts to explore it further, basis your curiosity & interest. We are highly confident that your curiosity will drive you further and if you do wish to reach out to us and interact, please feel free to drop in a line at admin@fintuned.net.

So, adios and take care till the next time we go fishing together 😊

Disclaimers

  • The sole purpose behind this technical analysis is to encourage learning about conducting technical analysis on one or more of scrips and in no manner whatsoever, be construed as a recommendation to buy/sell/hold any particular scrip.

 

  • Under no circumstance this post/technical analysis be taken as an advice to buy/sell/hold any scrip and Fintuned takes no responsibility for any monetary/non-monetary loss incurred by the reader because of reliance on the insights mentioned in “Weekly Technical Analysis”

 

  • The technical analysis is conducted by the team at Fintuned and it is explicitly made clear that Fintuned or any of its members are not authorized by Securities and Exchange Board of India, SEBI to issue any investment recommendation. Hence, the sole purpose behind this series remains educational.

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy of any agency, organization, employer, or any company. Fintuned Co. LLP shall not be held responsible in any manner whatsover, for any decision/action taken by readers on the basis of the content mentioned in the article. Readers are requested to exercise their best judgement before taking any decision/action. Fintuned Co. LLP shall also not be held responsible for any copyright infringement committed by the author in the process of writing and/or publishing this article and in the event any such offence is found, cooperate with necessary authorities to take remedial action

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