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.

 

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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.

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Day Trading- MRF

Moneyites April 15, 2020 No Comments

MRF –  In day trading the stock price forms a long bearish candle and closed below the short term ascending support line. The price action has retraced around 40% of its recent downtrend and RSI indicator below 50 reading is showing room for more downside in the stock.

So a sell position can be initiate in the stock on the rise at 58500-58200 for a price target of 56500 with the stop loss of above 59200 on closing basis.

Stock Tips

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

Stock Tips:-Tata Steel

Moneyites April 3, 2020 No Comments

Stock Tips:- The Tata steel stock price is in the long term downtrend. The stock price corrected almost 50% from the peak of 506. The price action has now formed a descending triangle pattern, it is again a continuation pattern.

The stock price taking support at the level of 250, Break down of this level to the downside and holding below it may trigger fresh leg of selling in the counter.

So a short position can be initiated in the stock below the support level of 250 for a target price of  230 with a strict stop loss of above 265 on a closing basis.

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Also Read:-Markets:- How to Trade Nifty50 on Friday?

Markets:- How to Trade Nifty50 on Tuesday?

Moneyites March 30, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 drops by 379.15 points or -4.38% to close at 8281.10 in day trade. The Nifty index opens gap down in the morning trade but sooner trend higher to fill the gap. The Nifty index then succumbs to the selling pressure from the resistance zone and test the day low and marks the new day low of  8244 before finally settled down.

The volatility index ( VIX ) gains marginally by 1.53% to close at 71.46 in intraday trade.

Coronavirus:- The number of coronavirus cases increased to 1,071 in India and the death toll reached to 29 by Monday evening, Whereas 7,34,931  people infected and 34,780 deaths reported worldwide from COVID-19

The Nifty50 index not only facing stiff selling pressure from the resistance zone but it also gives up around halves of its recent recovery. The Nifty index closed on a weak note and continue trading with the negative biases. The index has immediate support at 8180 below that it may continue to slide to the level of 8000-7825 to the downside whereas it has immediate resistance at 8340 above that it may test the levels of 8520-8800 in the short run.

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Nifty Tips

Also Read:- Stock Ideas:-You will love trading this chart.

Stock Ideas:-You will love trading this chart.

Moneyites March 30, 2020 No Comments

Stock Tips:- The PNB (Punjab National Bank) stock price is trending downward. The price action has now formed a descending triangle pattern, it is again a continuation pattern.

The stock price remains sideways from the last couple of days, while continue to face strong selling pressure from the resistance zone.

The downside breakout below the support line with a conviction may further strengthen the downside momentum in the coming time.

So a short position can be initiated in the stock below the support line for a target price of ..?.. with a strict stop loss of above…?.. on a closing basis.

Please give your feedback on what is your probable target and stop-loss?

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Stock Tips

Also Read:- Stock Tips:- Lupin

Stock Tips:- Lupin

Moneyites March 25, 2020 No Comments

Lupin Limited:- In today’s trading session the stock price opens gap down and resumes the long term downtrend.

The Lupin’s stock price remains sideways in the short term and has crucial support at 580-79. The price action breaches the support line and hovering around it with the negative sentiments.

The price action is looking weak and expected to continue the downside in the coming session and so a short position can be initiated on the rise in the stock for a target price of 550-510 with a strict stop loss of above 605 on a closing basis.

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Also Read:- Markets:- How to Trade Nifty50 on Wednesday?

Stock Tips:- Lupin

Moneyites March 23, 2020 No Comments

Stock Tips

Lupin Limited:- In today’s trading session the stock price opens gap down and resumes the long term downtrend.

The Lupin’s stock price breached it long terms support line of a downward trending channel and hovering below it with the negative sentiments.

The price action is looking weak and expected to continue the downside in the coming session and so a short position can be initiated on the rise in the stock for a target price of 580-550 with a strict stop loss of above 640 on a closing basis.

For all day to day News, Data and live development on Markets Follow us.

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Stock Tips

 

Also Read:-Markets:- How to Trade Nifty50 on Monday?

 

YES Bank Stock Price Drops Almost 96% From its Peak.

Moneyites March 7, 2020 No Comments

Stock Tips:-

YES Bank:- In Intraday trade the stock price opens gap down and continue the correction rally to the days low of 5.65 i.e around 85% before finally settled at 16.15 giving up 56.11%.

The stock price drops almost 96% from the peak of 404 made on 20Aug 2018.

The bank failed numerous time to raise capital and finally it is State Bank of India who is now showing interest to invest in the bank.

The RBI intervenes and imposed a moratorium on YES Bank for a period of one month to come up with a scheme to rescue the bank.

Also Read:- Stock Tips:-IRCTC?

Stock Tips

 

Stock Tips:-IRCTC?

Moneyites March 6, 2020 No Comments

Stock Tips:-

IRCTC:- The Indian Railway Catering and Tourism Corporation Ltd (IRCTC) stock price corrected by 5% or -71.50 points to 1359.35. The stock price correcting from its all-time peak of 1994 and retraced more than 50% of its immediate uptrend.

The stock price has immediate and multiple support at 1290-1300 level. Closing below the support level it may continue the downtrend and the stock price may retest the level of 1170-1000 in the coming time. Whereas holding above the level of 1300 the stock price may see some bounce back to 1450-1500 level.

Also Read:- Stock Tips:- MFSL

Stock Tips

 

Stock Tips:- Apollo Hospitals

Moneyites February 28, 2020 No Comments

Stock Tips:- Apollo Hospitals 

Apollo Hospitals Enterprises Limited Share price making higher highs and higher lows, But in today’s trading session the price action forms a long bearish candle and closed below the support line. The stock price seems to top out and some more profit booking can be witnessed in the coming time.

So a sell position can be initiated at 1755-50 level for the downside price target of 1710-1660 with a strict stop loss of above 1785 on a closing basis.

Stock Tips Apollo Hospitals