Here are the Top Five stocks picked from the nifty 50 pack with high probablitly longterm setup/breakouts suits for weekly/monthly SIP Investment system for an investment horizon of 2-3 years timeframe. Strategy used is intratrend strategy on weekly timeframe to pick the list of stocks from nifty 50 pack.
Infy Spot 15min charts shown above. Currently infy turned to positional buy mode with Huge Surge in the Volumes at last hour of Trade. CMP : 2404 and the Current Trailing Stop Loss comes around 2272. Similar Patterns is observed in futures market also with huge surge in volume. Exit your longs if the trailing stoploss hits.
From the daily chart it is clear that Ranbaxy has finished ABC correction from recent high of 578 and made double bottom at 370. From lows of 380 price are moving in well-formed price channel as seen in 15 min chart. Daily and weekly trend is firm UP.
Reliance Industries Stock has formed an Inverse Head and Shoulder Pattern at the bottom with good volumes ,Confirmation with inverse HNS on 14 period RSI also ,which is a key reversal pattern specially when its found.
Tata Motors Weekly charts showing -WW pattern. also there is negative divergence on MACD on weekly time frame charts. 1st target may be 240 breaching the 240 on weekly closing basis may trigger for next target of 180.
Channels are very powerful trading tools check out old post for CANBK & FINANTECH. I always try to find out if there any price channel in formation. One such highly rewarding trade is shown in chart above.
This is the first guest post from Sumeet Jain author of Pattern Trading Blog in this post here share about his high probability pattern trading ideas
Gail is in buy mode on the weekly charts with supports coming 371. One can have a stop loss below Rs371 on EOD basis for a target of Rs 400 and Rs 425.
Maintain Strict stoploss as we are trying to do bottom fisihing.
Two Stocks to Watch for breakout KPIT and KFA Airlines
Venkys India had broken and trading above the trendline resistance zone. And it can be bought till the dips 420-430 with stop loss Rs 400. Target comes around Rs520-530
Dr Reddy Stock is currently facing resistance near Rs 1680. A Close above 1680 could have a potential to reach Rs 1850-1860 and Rs 1950 as the second target.
SL Rs 1600 for postional traders.
Four NSE Stocks IDEA,Sun TV, Escorts, Havells India to watch for breakout this week