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.

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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.

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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?

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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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

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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.

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

 

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

Stock Tips:- MFSL

Moneyites February 28, 2020 No Comments

Stock Tips:- MFSL

MFSL (Max Financial Services Limited) stock price confirms a double top pattern on an hourly chart and price closed below the support line in today’s trading session. The RSI indicator at 44.53 again confirms weakness to further continues in the coming time.

So a sell position can be initiated at the current level for the downside target price of 525 with a strict stop loss of above 610 on a closing basis.

Stock Tips MFSL

 

Stock Tips:- Mcdowell

Moneyites February 26, 2020 No Comments

Stock Tips:- Mcdowell

MCDOWELL (United Spirits Limited):- In today’s trading session the stock price breached the support line of short term uptrend and closed below the key support level.

Mcdowell’s stock price has closed on a weak note 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 665-640 with a strict stop loss of above 703 on a closing basis.

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STOCK TIPS:- HAVELLS

Moneyites February 26, 2020 No Comments

Stock Tips

Havells India Limited:- The stock prices seem to bottom out after the deep correction. The stock price is now in the consolidation phase and forms a double bottom whose close to a breakout.

Havells India is a short term buy call at 640-45 level with a price target of 660-670 level with a strict stop loss of below 629 on a closing basis.

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