Following are the few stocks which are looking good for this week. The charts are analyzed on the hourly timeframe. There are many stocks shortlisted by screener but I was short on time to study all stocks.
Adani Ports –
Adani ports hourly chart, from last 2-3 days stock, was up with the market. Yesterday it was not breaking previous swing high and formed a strong bearish engulfing candle. Though it is in process of flag and pole formation, I am bullish only if the previous swing crossed. The length of a pole is nearly 30 points if previous high crossed and closed above it may test 400.
Asian Paints –
Asian Paints hourly chart, Asian paints has the same pattern as that of Adani Ports. Rallying with the market. It is breaking previous highs, respecting the trendline(white dotted). I am not so bullish on Asian Paints. Only will think about long if all previous swings were broken with strong candles.
Bajaj Finance –
Bajaj Finance hourly chart, Bajaj finance is trading in the channel (dotted white lines). Now consolidating near the upper line of the channel. It formed two shooting stars, first shooting star is followed by bear candle and second shooting star is followed by engulfing candle is add weakness in the stock. Long only if the channel is broken by strong candles and 1or 2 candles need to closed above the channel.
Bajaj Finserv –
Bajaj Fisv hourly chart, the stock has given channel breakout and rallying very strongly. In the last trading session formed shooting star followed by bearish candle I am hoping it may retest breakout.
Bharat Financial Inclusion –
Bharat Financial Inclusion hourly chart, Bajaj Fin facing resistance near 1040-50 levels and formed shooting star followed by the strong bear candle, I will avoid long until previous high was broken.
Bosch Ltd –
Bosch ltd hourly chart, nice setup for flag and pole breakout, broke previous swing high which ws near 19400. I am super bullish on Bosch for the next few weeks.
Colpal hourly chart, it was trading in the channel. In the last trading session, it gave a strong breakout. Formed number of dojis after the breakout. Here I am expecting it may test breakout or it will keep rallying.
Deepak Fertilizers –
Deepak Fertilizers hourly chart, one of my favorite stock. Corrected from 190s – 130s. Has given good reversal from lows now small pullback which will help for a further rally.
Somany Ceramics Ltd –
Somany Ceramics hourly chart, nice flag and pole setup which is also resistance levels If a breakout happens I am expecting a good rally in Somani ceramics.
The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.