Hello Friends, Welcome back to our new series of Stock Picks of the week.
In this series we are going to provide you list of stock after studying them deeply and how we can trade them.
So Lets begin,
Can Fin Homes:
- As you can see the stock has broken a major resistance of 909, which previously was a Swing high and in July 2024 its had done Fake break out of the same level
- Now in previous three candles it has show great momentum with good volume hence we can say this as a Tradeable breakout.
Levels to Trade:
| Buy Price | 932 | ||
| Stop Loss | 910 | ||
| Target 1 | 1023 | Reward Risk Ratio 1 | 4.14 |
| Target 2 | 1092 | Reward Risk Ratio 2 | 7.27 |
Axis Bank:
- Axis bank has done two higher lows, one in between Apr 2024 and May 2024, other in 2nd or 3rd week of Aug 2024.
- Thereafter, it has broken swig high near 50 EMA.
- So, we can trade for below levels
Levels to Trade:
| Buy Price | 1197 | ||
| Stop Loss | 1178 | ||
| Target 1 | 1259 | Reward Risk Ratio 1 | 3.26 |
| Target 2 | 1309 | Reward Risk Ratio 2 | 5.89 |
Coforge:
- Above shown image is of Weekly Time frame of Coforge, where you can see a proper uptrend and currently it has broke a All Time High (ATH) level.
- Now how we can trade this, we can keep Stop Loss as previous Swing High level and Target as 7934.
Levels to Trade:
| Buy Price | 7013 | ||
| Stop Loss | 6847 | ||
| Target 1 | 7930 | Reward Risk Ratio 1 | 5.52 |
Page Industries:
- Page Industries chart looks quiet prominent, as it has given a reversal pattern in a downtrend
- Reversal Pattern is Inverted Head and Shoulder, so now how to trade theis pattern
- First mark your neckline, measure the price though a price range tool connecting bottom (head point) and neckline, then place that price range in place at breakout point and previous high low
Levels to Trade
| Buy Price | 43363 | ||
| Stop Loss | 42615 | ||
| Target 1 | 50022 | Reward Risk Ratio 1 | 8.90 |
| Target 2 | 52737 | Reward Risk Ratio 2 | 12.53 |
So Friends that’s all for Today, I will be posting next set of picks soon,
Till Then Stay tuned!!!!!!
If you have directly landed on this page do check out my other informative sections of blog below:
- Basics of Stock Market
- Stock Picks of the Week
- Watchlist of the Week
- Stocks
- Indices
- Currencies
- Commodities
Note:
Stop Loss should be on closing basis. For Example after Buying Whirlpool for 2140 and at end of the Day/Week/Month based on Chart Time Frame, if it is Closes Below 2091 then you can confirm that our Stop Loss has been triggered.
PLEASE FOLLOW STOP LOSS STRICTLY TO PRESERVE YOUR CAPITAL
Please read Disclaimer before Investing.
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Have a Great Time ahead!!