𝗪𝗲 𝗵𝗮𝘃𝗲 𝘀𝗲𝗹𝗲𝗰𝘁𝗲𝗱 𝘁𝗵𝗿𝗲𝗲 𝘀𝘁𝗼𝗰𝗸𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝘄𝗲𝗲𝗸 𝗳𝗼𝗿 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝘂𝗽𝘀𝗶𝗱𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗯𝗮𝘀𝗶𝘀 𝗼𝗳 𝗼𝘂𝗿 𝘁𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀.𝗧𝗵𝗲𝘀𝗲 𝘁𝗵𝗿𝗲𝗲 𝘀𝘁𝗼𝗰𝗸𝘀 𝗝𝗶𝗻𝗱𝗮𝗹 𝗦𝘁𝗲𝗲𝗹 & 𝗣𝗼𝘄𝗲𝗿 𝗟𝘁𝗱., 𝗟𝗧𝗙, 𝗮𝗻𝗱 𝗚𝗿𝗮𝘀𝗶𝗺 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 𝘀𝗲𝗹𝗲𝗰𝘁𝗲𝗱 𝗯𝗮𝘀𝗲𝗱 𝗼𝗻 𝗽𝗿𝗶𝗰𝗲- 𝘃𝗼𝗹𝘂𝗺𝗲 𝗯𝗿𝗲𝗮𝗸𝗼𝘂𝘁.
Jindal Steel & Power Ltd.(JINDALSTEL):
The first stock on our
radar is Jindal Steel and Power Ltd. The stock closed at Rs.1031.65 on last
Friday after breaking out on Thursday with significant volume. See the chart
below. The stock is above 200 EMA of 890, means the stock is in uptrend on
long-term basis.
One can buy Jindal steel above Rs.1036, keeping a stop-loss below Rs.1009.Target should be minimum 1: 2 or more. We can trail stop-loss if the trade goes in our favor to maximize profit target. We expect the stock to go upside upto Rs.1150 if trades decisively above Rs.1036.
L&T Finance Ltd.(LTF):
The next stock in the line is LTF or L&T Finance Ltd. It has given a closing at Rs.177.91.This stock broken out on Thursday, now trading above the break out level or resistance level with huge volume since it's breakout. See the below chart.
The stock is above 200 EMA means it is in uptrend, which is 162.10.RSI is at 59.36, just approaching 60 level positive for the stock.
One can buy LTF at
Rs.180, place a strict stop-loss at Rs.173.Target will be Rs.190 to Rs.198.
Grasim Industries Ltd.(GRASIM):
Third
and final stock on our radar is Grasim Industries Ltd. The stock is also
selected based on price-volume breakout. It is above 200 EMA which is Rs.2400
in daily time frame. See the below chart. RSI in daily, weekly and monthly time
frames is above 60 level which indicates the stock is in high momentum. Volume
is also good.
The stock is consolidating just at its resistance level of Rs.2784.If the stock can trade decisively above the resistance level one can go long in the stock keeping a strict stop-loss below Rs.2734 with a target of Rs.2900.
Please note that all
the above stocks are meant for swing trade. No future and option trading is
recommended. We have selected these stocks on certain parameters, such as price is
above 200 EMA in daily and weekly, RSI in three time frames above 60 or just
approaching 60 from below or taking support at 50.And finally these stocks have
broken out or consolidating at the breakout level.
Disclaimer: The information provided on MoneyWiseMind is for educational and informational purposes only. It is not intended to be financial advice, and you should not rely on it as such. Before making any financial decisions, you should consult a licensed financial advisor.
