Weekly Stock Picks #1
Here is the list of my 5 stocks for weekly trading.
Disclaimer: I can just give an overview of stocks based on charts and trends supported by local news. As I am still learning a lot of new aspects in trading and investing, hence please don’t completely rely on these picks. However, if you like my recommendations, please like this post.
All these are BUY calls.
The Charts indicate an uptrend for Axis Bank. On weekly charts, the resistance is shown on the mark around Rs784-785. The previous support of 745 has been crossed, therefore showing the opportunities for a bull run.
Latest News: The Sena-led Maharashtra Government is planning to move sena-controlled municipalities and also of the Maharashtra Police. Amongst these conflicts, Axis bank may lose one of its big clients, thus bringing it to negative light on street trading.
Stoploss: Rs 184
Just on its weekly-support, Powergrid can bounce back upto 196-200 mark. The trend for Powergrid is sideways, thus supporting its target range.
Showing progressive uptrend makes IndusInd Bank a buy call. The bank is creating new highs since October and therefore, it wont be a surprise if it crosses the 1600 mark in next few days/weeks. Also, with the Finance Minister’s constant updates on banking sector, the stock is a must watch!
On it’s recovery from the year’s lowest point, Hero Motocorp makes it worth for a buy. The auto manufacturer has shown growth for the past two weeks and will continue to show growth for the next week also.
Latest News: Publics Media has bagged media mandate(media agency) of Hero Motocorp for both Traditional and Digital media duties.
The HUL scrip created on Doji on weekly chart on a bearish trend. Doji, represents a trend reversal. Also the mark at which the HUL is currently at, is the support. For the upcoming week, HUL will definitely make a comeback with a bullish phase. I assume, this stock can mark upto a level of 2150 in a couple of weeks.
I will post the results for these stocks next week along with the percentage increase/decrease of the price and my accuracy on these picks.