WEEKLY MARKET ANALYSIS FOR 15 JUL 2024 / BREAKOUT STOCKS FOR TRADING AND INVESTING

FINSTOCK

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Transcript

00:00Hello friends, welcome back to our channel Finstop

00:11today we are with yet another episode of our weekly market analysis series

00:16so as you know in this series

00:20last week we analyzed which indices performed well

00:25and based on that we will take a stop for next week

00:30so this week which ended on July 12th

00:34FMCG 3.56, IT 3.45 and PSU index showed 2.52% outperform

00:41and the underperforming sectors were Metal 2.63, Reality 2.32 and PSU bank 2.09%

00:49as we are talking last few weeks, IT is showing outperform

00:54and Metal and Reality sectors which were showing outperform since last few months

00:59have become underperforming sectors

01:02so from these sectors we have to look for opportunities for selling

01:05and from these outperforming sectors like IT, PSU we have to look for opportunities for buying

01:10so friends now we will discuss the stocks which we have analyzed on the chart

01:18so friends you watch our videos but like and share it with your friends

01:24and press the bell notification and subscribe to our channel

01:28so that you can get updates of our new videos

01:31so now we will go to the chart

01:34so this is our weekly chart of Bank Nifty

01:43so as you can see Bank Nifty is following a channel which we have been discussing since last few weeks

01:51and its upper end is showing resistance

01:55so till the time this level is around 53.40

02:03till the time Bank Nifty does not close

02:06till then we will not see any new outperform

02:12so now we will see our stocks

02:15so the first sector was FMCG sector

02:18and the first stock before FMCG was Godrej Consumer Product

02:21Godrej Consumer Product is our first stock

02:30so friends the weekly chart of Godrej Consumer Product has opened

02:40so as you can see RSI is above 60

02:43the green candle is quite big and the red candle is quite small

02:48which means it is buying with a good volume

02:52and it is selling with a good volume

02:59so if we analyze it

03:02so we will get a swing low which is around 7-8%

03:09if we take a stop loss of 10% then we will get a stop loss of 1315

03:15and if this level is above 1460 then we can buy

03:24so friends the stocks we are discussing here are just for study purpose

03:30do not take it as a recommendation

03:32you can study it yourself or contact your advisor

03:36we are just showing these stocks for study purpose

03:42so this is the chart of Godrej CP

03:44in which you can buy above 1460

03:47and the stop loss will be around 1300

03:50and then we can see the new momentum

03:53the next stock in FMCG sector is Bajaj Consumer Product

03:57Bajaj Consumer

04:09so this is the weekly chart of Bajaj Consumer

04:13if we see

04:15this level came in almost October 2021

04:19after that this level has broken out

04:22and this is the breakout of Cup with Handle Pattern

04:25so we can consider this as a good level

04:28so if we see the target

04:33so if we project this level up

04:37so we will get our target here

04:40so our target comes out almost

04:43around 400

04:45300 means we get a target around 400

04:48but this level will act as a resistance

04:52which is around 304

04:55so if we want to buy in this

04:58so we can buy this level here

05:02if there is a green candle in any daily candle

05:06so we can buy in that

05:08and our stop loss will be 10%

05:11which is around 235

05:14and according to that we will get this first target

05:17around 12%

05:19then we can expect the second target of 29-30%

05:24and our final target will be this

05:27which we will get almost

05:3048 that is 50% cash plus

05:33we can expect the final target in this

05:39then next sector is IT sector

05:42and the stock we have analysed in IT sector is

05:44Emphasis

05:46so friends

05:52now the chart which will open in front of you

05:55will be the weekly chart of Emphasis

05:58so this is the weekly chart of Emphasis

06:02if you see here also

06:04a very good curve and handle pattern is forming

06:07the breakout level of this is around 2900

06:10almost 2837

06:14so if we see here

06:18the volume is increasing

06:21plus RSI is also above 60

06:24so we can buy in this candle also

06:26which is 2690 level

06:28or if we buy around 2700

06:30so we can get a very good return in this

06:34and our target will be

06:38this all time high level

06:41so our target will be 26%

06:43and stop loss will be 10%

06:48then next stock is

06:51Emphasis

06:56this is the weekly chart of Emphasis

06:59and if we see

07:02Emphasis is a very big company

07:05and also a very good company in IT sector

07:08so if you see here also

07:10the volume is increasing

07:12RSI is above 60

07:14that means we can get a very good target in this also

07:18and the resistance level

07:20the container which was taking the resistance

07:22has also got a breakout which is around 1711

07:24so if we still buy this

07:27then we get a target of 12%

07:30which is around 1919

07:32and we have to put a stop loss

07:34which is around 10%

07:37so this is our first target

07:39and if we have to find the target

07:41so this is the all time high level

07:43so if we plot the range

07:45which it has formed

07:47so we will get a target

07:49almost

07:51after the breakout

07:53we will get a target of around 2500

07:57so for long term we can buy in this

08:00for a target of 2500

08:04then next our sector is PSE

08:09and as you know

08:11government sector PSE

08:13Public Service Enterprises

08:15is showing a very good performance

08:17among all the stocks

08:19we have chosen IRCTC

08:21first stock

08:23so we will analyze it

08:25IRCTC that is

08:27Indian Railway

08:29Catering and Tourism Corporation

08:31so this is IRCTC weekly chart

08:34if you see

08:36as I have told you earlier

08:38this green line

08:40that is my buying level

08:42where I have made a position

08:44so now

08:46this is the resistance level

08:48this level will act as a resistance

08:50so this is a very good

08:52cup and handle pattern

08:54and as soon as this

08:56goes above 1047

08:58so we can get a very good

09:00and bigger target

09:02and that target

09:04we will get

09:06if we project it above

09:08so as per that

09:10we will get a target

09:12of around 1640

09:16so that will be our

09:18target for IRCTC

09:20and in that also

09:22we have to put a stop loss

09:24of 10%

09:26so in this

09:28risk to reward ratio

09:30is around 1 to 6

09:32or 1 to 5

09:34we have to

09:36take it above this level

09:38because it's RSI

09:40is not above 6 yet

09:42it has not created enough momentum

09:44this is a concern

09:46so as soon as it

09:48goes above that level

09:50new momentum will be created

09:52and with that

09:54we can trade it

09:56and

09:58the current level

10:00is around 1043

10:02so it's not too far

10:04this level is 1116

10:06it's very close

10:08so almost

10:10if we see

10:12we will buy it

10:14above 5 to 6%

10:16but we can get

10:18good momentum

10:20so we can wait

10:22there is no need to

10:24buy it immediately

10:26the next stock is

10:28ONGC

10:30ONGC is the

10:32next stock in PSA sector

10:34which is very good

10:36performance wise

10:38Oil and Natural

10:40Gas

10:42Oil and Natural Gas Corporation

10:44of India

10:48we have opened

10:50weekly chart of ONGC

10:52if we see monthly

10:54there is a breakout level

10:56which came in September 2014

10:58so almost

11:00after 10 years

11:02ONGC is coming close to this level

11:04and with this breakout

11:06level, all time high level is also

11:08of ONGC

11:10which was listed in

11:121999

11:14and when this stock came

11:16we can expect

11:18good breakout

11:20after lifetime breakout

11:22so if we see

11:24we have already selected the target

11:26if we project the depth

11:28546

11:30we can expect target of 540

11:32which is 78%

11:34which is almost

11:361 as to 8

11:38if we see

11:4210% stop loss

11:44we have to give

11:46so if we see

11:4810% stop loss

11:50it will be around 270

11:52and then we can

11:54hold for this target

11:56or when we have

11:58target 1 as to 1

12:00if we are trading

12:02we can book profit

12:04so friends

12:06the stock we discussed

12:08is for educational purpose

12:10you can study it

12:12and take your decision

12:14or consult with your financial advisor

12:16so that's it for now

12:18thank you

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Transcript

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