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.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty Tips

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

Markets:- How to Trade Nifty on Thursday?

Moneyites May 28, 2020 No Comments

Nifty Tips:- In our special report yesterday, We have a bullish view on the Nifty50 index in the short term for the upside target of 9500-9600 or even 10,000 marks. The index opens gap positive and keeps capitalizing on the morning gains surged by +285.90 points or +3.17% by the end of the days trading. The index marks the day high of 9334 and rallied by around 270 points after the “BUY” recommendation.

Day Trading:- The Nifty 50 index violated the trading range to the higher side and close above it with the positive momentum in the previous session. The index carrying strong positive momentum and if manage to sustain above 9150 marks may continue to trend higher to retest the level of 9500-9600 in the short run.

The intraday trading strategy is to buy on dips on Nifty future and a call option of 9400 strike price for next week 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 9340 above this it may retest the level of 9420-9500 to the upside. Whereas below the level of 9270 it is looking weak and may retest the support level of 9210-9150 to the downside.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty

Also Read:–Bulls May Ride Nifty To 9500-9600 levels In Short-Term.

Bulls May Ride Nifty To 9500-9600 levels In Short-Term.

Moneyites May 27, 2020 No Comments

Nifty50:-

In a contrarian view on Nifty50, The benchmark index may trend higher to the levels of 9500-9600 levels or even 10000 if it manages to hold above the level of 8800 on a closing basis. The index has crucial resistance at 9270 levels and takes off this level in a convincing style may open for more upside in the coming time. The index found multiple support at the level of 8800 which act as a downside trigger in the coming time.

“Trading is more about managing and mitigating risk not just taking the risk”.

Some reasons to support the above statements are:-

1 The first reason for going to this trade is the favourable Risk to Reward ratio of 1:3 on minimum and 1:5 on the higher side.

2 The opening of the economy may have a positive optimism to support the price action to move head higher in the short run.

3 Even after the announcement of negative growth rate by RBI in a second emergency move, the price is still holding support at 8800.

4 The price violated the neckline of the Head and Shoulder pattern highlighted in green found support at the level of 8800.

5 The price formed a descending triangle, it is a bearish continuation pattern. It is highlighted from the blue dash line found support at the level of 8800.

Nifty 50

Bank Nifty:-

The Banking index who has relatively corrected more than the nifty index is trading with the weakness. In the previous trading session, the index opens gap positive and holds some gains to close in the green despite Nifty50 index close in the red with the nominal losses. Technically, the banking index seems to place bottom at the level of 17000 and may due for a bounce back.

The violation of the resistance line of a bullish wedge pattern may take bank nifty to the level of 18200-18600 in the nearest term.

Bank Nifty

Dow Jones Industrial Average:-

The Global Markets are showing positive optimism on the reopening of the economies. The Dow future opens on a strong positive note on Tuesday and in addition to this, It has a breakout from the inverted Head and Shoulder pattern. It is a bullish continuation pattern signals of continue uptrend and it may rally another 4-6% from the current levels.

Dow Jones Future

Markets:- How to Trade Nifty on Tuesday?

Moneyites May 22, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 shut shop in red at 9039 after losing of -67 points or -0.74%. The Nifty index opens gap lower but turns positive in the early hour of trade. The Nifty 50 loses the positive momentum by the start of the MPC announcement and hit the days worst level of 8969. The MPC slashes repo rate by 40 BPS to 4% in its policy announcement. On WoW basis, The Nifty 50 closes in red with the loss of more than one percent.

Day Trading:- The Nifty index continues its failure to sustain on higher-level forms a Doji formation on the daily chart, signs of indecisiveness. The Nifty 50 index is trading with weakness and closed on a weak note but it may show some bounce back if manages to hold above 8960 but take every bounce as a selling opportunity as long as nifty fails to hold above the level of 9300 on a closing basis.

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 9150 above this it may retest the level of 9220-9300 to the upside. Whereas below the level of 8960 it is looking weak and may retest the support level of 8880-8800 to the downside.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty Tips

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

Markets:- How to Trade Nifty on Friday?

Moneyites May 22, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 extends gain by +39.70 points or +0.44% to close at 9106.25. The index opens on a positive note and after breaching the resistance level of 9110 it hits our first target as recommended in our previous report. The Nifty index in late hours cools off from the day high and finishes the day in green with the modest gain.

Day Trading:- The Nifty index forms a small green candle and holds above the mark of 9100 in today’s trading session. The index is in positive momentum and bulls may continue to ride if manages to hold above the level of 9050. The index is facing multiple resistance on the higher level so stiff selling pressure can be witnessed from the resistance zone.

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 9120 above this it may retest the level of 9180-9250 to the upside. Whereas below the level of 9050 it is looking weak and may retest the support level of 9000-8920 to the downside.

Nifty

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

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

Markets:- How to Trade Nifty on Thursday?

Moneyites May 21, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 extends gain by +187.45 points or +2.11% to close at 9066.55. The index opens gap positive and keeps holding the early gains in the first halves and later its breaches the trading range to extend rally further in the second halves. In today’s session too, the index broke out the level of 892o and hit both the target of 8975-9050 as mentioned in the report and closed above them with positive biases.

Day Trading:- The Nifty index form an aggressive bullish candle and closed near the day high with positive biases. The bulls are in command and if manage to hold above 8950 on a closing basis we can see a rally to continue in the short run. The intraday trading strategy is to buy on dips on Nifty future and a call option of 9200 strike price for next week 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 9110 above this it may retest the level of 9170-9220 to the upside. Whereas below the level of 9030 it is looking weak and may retest the support level of 8950-8900 to the downside.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty Tips

Also Read:-Markets:- How to Trade Nifty on Wednesday?

Markets:- How to Trade Nifty on Wednesday?

Moneyites May 20, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 registered gains of +55.85 points or +0.63% to close at 8879.10. The index opens gaps higher in the morning and keeps the gaining momentum active to marks the day high of 9030.35 in the first halves. The index in the second halves, off from the day high taking resistance from the level of 9050 give up almost half of its early gains by the day end.

Day Trading:- The Nifty index modestly gains after a wipeout of the morning gains signs of stronger selling pressure on the higher level. The intraday trading strategy is to sell on the bounce and add more shorts below the level of 8800 and if the support level of 8800 is not violated then we can expect some bounce back to the levels of 9000.

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 8920 above this it may retest the level of 8975-9050 to the upside. Whereas below the level of 8800 it is looking weak and may retest the support level of 8720-8640 to the downside.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty

Also Read:-Markets:- How to Trade Nifty on Tuesday?

Markets:- How to Trade Nifty on Tuesday?

Moneyites May 18, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 declines by -331.60 points or -3.43% to close at 8823.25. The index opens with strength but reverses sharply and after breaching the support level of 9110 it kissed both the target of the downside as mentioned in the previous report.

Day Trading:- The Nifty index forms a long bearish candle on the daily chart. Its index fourth consecutive day of selling in a row and the index lost almost 750 points in the last four trading session. Technically, The index is looking a bit oversold and if the support level of 8800 is not violated then we can expect some bounce back to the levels of 8940-9050 to the upside.

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 8940 above this it may retest the level of 9050-9175 to the upside. Whereas below the level of 8800 it is looking weak and may retest the support level of 8720-8640 to the downside.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty

Also Read:-Markets:- How to Trade Nifty on Monday?

Markets:- How to Trade Nifty on Monday?

Moneyites May 15, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 5o declined marginally by -5.90 points or -0.06% to close at 9136.85. The index opens with strength but reveres back and after breaching the immediate support level of 9110 it kissed the first target of 9060 as mentioned in the previous report. Later in the second half, It rebounds from the day low and wipes out almost all its losses for the day. On WoW basis the index has lost 115 points to closed in the red.

Day Trading:- The Nifty index forms a bearish candle after positive opening signs its facing strong selling pressure on the higher level. The index flirting at the level of 9000 breaks down of this level may open more downside to the level of 8800-8700 Whereas Nifty index has crucial resistance at 9275 above this it may trend higher to the level of 9370-9500 to the upside.

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 9200 above this it may retest the level of 9275-9350 to the upside. Whereas below the level of 9110 it is looking weak and may retest the support level of 9050-8980 to the downside.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty

Also Read:-Markets:- How to Trade Nifty on Friday?