3 Stocks to watch out in the coming week

Moneyites June 8, 2020 No Comments

By Dinesh Sharma of Moneyites Global Research

In the previous week, we saw the Indian Equities has gained for the second consecutive week. The benchmark index Nifty 50 rose by 5.86% to close at 10142.

The Nifty 50 index expected to continue its bull run in the coming week as the current market rally supported by the broader market indices and FII inflows.

The Nifty 50 index has to challenge its 200 weeks simple moving average at 10352 and if the index takes off this resistance level we may see more upside to the level of 10500-10600.

3 Stocks to watch out in the coming week.

BPCL:- The shares of BPCL rose 3.46% to close at 369.60 in the last trading session. The price action has ditched the bearish trend and forms two bullish candles resemble a double bottom formation on the weekly chart. It is a bullish continuation pattern whose resistance placed at 375. The RSI indicator near the 50 marks has enough room for the upside.

The stock is on buying radar and if it takes off the intermediate resistance level of 375 on a closing basis may run 8-10% in the short run.

Stock Tips

TorntPower:- The shares of Torrent Power rose 5.71% to close at 344.55 in the last trading session. The price action has a breakout from the inverted head and shoulder pattern with a spurt in the volume. It is a bullish continuation pattern and the RSI at a reading of 71 signals strong positive momentum to continue.

The stock price if manages to hold above the level of 320 on a closing basis may head higher to the level of 380-400 in the coming time.

 

Stock Tips

UBL:-The shares of UBL rose 7.32% to close at 1017.05 in the previous trading session. The price action violated the resistance line of the ascending triangle formation and closed above it. The price rose on the heavy volume and closed near the day high on a positive note. The stock price may head higher to the levels of 1100-1140 in the short run. While the level of 950 is critical to hold on a closing basis.

Stock Tips

Markets:- How to Trade Nifty on Monday?

Moneyites June 1, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 extends gain by +90 points to close at 9580. The index opens on a weak note but reverses sharply from the support area and hit both the intraday target of 9550-9600 given on the telegram channel. The index hits its second target of 9600 given in the special report.

Day Trading:- The Nifty 50 index violated the trading range to the higher side and since then trading in strong positive momentum. The index three days of consecutive gains added around 570 points to the index. The index is in an uptrend and if manage to sustain above 9400 marks may continue to trend higher in the short run.

The intraday trading strategy is to buy above 9600 in Nifty future and a call option of 9600 strike price can be initiated for the given below targets.

As our levels decode the daily market movements in simple support and resistance levels with high accuracy. So we recommend keeping the below levels at the back of your mind before going for the intraday trading.

Nifty Support and Resistance Level:- The index has immediate resistance at 9600 above this it may retest the level of 9660-9715 to the upside. Whereas below the level of 9540 it is looking weak and may retest the support level of 9480-9400 to the downside.

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Nifty Tips

Also Read:–Markets:- How to Trade Nifty on Thursday?