3 Stocks to bet in the coming week

3 Stocks to bet in the coming week

The breakout above 10450 levels confirms that Nifty is still in favour of Bulls till 10600- 10650 levels. The upper band 10620- 10660 acts as a sort of resistance unless a strong momentum breakout seen in coming week. Short term trend is positive looking at 20 DEMA placed above 10330, which should act as a support for the week ahead.

One can continue long positions above till the Nifty holds it important support of 10330-10330 on weekly basis close. On the other hand, looking at the global environment, there could be possibility of volatility in the Index that must be taken care by proper hedging in the positions taken.

Apart from the index trading the probable winning stocks could be as follows:

  1. ESCORTS :

A strong uptrend confirming with Volumes, trading above its 20 DEMA, breakout with strong Engulfing candle, the stock can move even higher to levels closer to 1000 in the coming week.

  1. IPCALAB

Higher highs with higher Volume is seen in the last 3 trading sessions, which is on to its 800-900 levels in the short term. Traders must keep the breakout zone (680-700 ) as closing stop loss for buy positions.

  1. DHFL

Trading at strong support zones between 500-520 was witnessed in the previous week. The strong volumes, closing above its 20 DEMA could possibly test 600-640 levels keeping the positive momentum in the market in mind.

Note: The above analysis is open for discussion during live market hrs, hence traders do take care of Intraday volatility for positioning in the above stocks with proper entry and exit price.

Regards,

Santhosh Kumar V

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