Profitable Trading idea for July'20 expiry

From Tomorrow we are going to start trade for monthly expiry of July'2020. In monthly expiry traders remain very active specially those who are holding position in Futures. Because they have to either close their position or carry forward to next expiry if trend remain in their direction. Due  to weekly expiry volume in Nifty and Bank Nifty index remain high but in monthly expiry traders start focusing on stocks in future segments.

Considering expiry week i have identified few stocks for next week trading purpose where we can see movement in price. Let's discuss one by one on chart.

1. ACC Ltd:-



ACC Ltd has formed "Shooting Star" candle on 21-0-2020 with increase in volume after that price started falling since last 3 days. As you can see in chart price can test level of 1312 in coming session. Whenever Shooting Star candle formed after strong rally it is more reliable and close below shooting star candle in coming session gives confirmation to go short. Same price action setup is formed in ACC Ltd also.

2. Apollos Hospital:-



Apollo Hospital is trading in rage of 1480-1520 range since last 5 days. After breakout above 1520 or below 1480 major movement can be seen. Because on 26-06-2020 red bearish candle formed with high volume of selling after that price managed to stay above 1480 level. So 1480 is short covering level for bears and price is trading above 1500 so in coming trading session chances of short covering is high is market sentiments remain positive and we can see level of 1600 in next week itself. On other side if price start trading below 1480 again new shorts can push price lower. 

3. Asian Paints:-


Asian Paint is trading in narrow range and ready for breakout in either side in coming session. So one can keep it is in watchlist. And take trade after breakout only. From the chart breakout and breakdown level is shown then just keep tracking this level. Important to note level of 1680 because that is the low of 24-06-2020 bullish candle where in highest volume traded so that level is very critical for bulls because below that level bulls get trapped and also breakdown of trend line.

4. Axis Bank Ltd:-


Axis Bank one of the favourite stock for traders because this is high beta counter. There was two false breakout in the range of 480-460. So one should avoid trading in the range of 480-460 wait for close beyond this range. And since last 2 days Axis Bank trading below 460 indicating further downside in this stock. According to trendline Axis bank can be shorted below 440 level because that is the level where breakdown can happen. And bulls are already trapped see the volume of 22-07-2020. So wait for breakdown and take your entry accordingly. Here stop loss would be around 460-455 zone.

5. Bajaj Auto:-

    
We have seen very good move in Bajaj Auto since march'20 to till date. Since last few days it is trading in the range of 2950-3050 that is 100 point range. Also trading near to support level of 3000 so below 3000 time to cautious and break below 2950-2900 one can exit from long and can go for short. Break out and break down level mentioned on chart.  On 7-7-20 and 22-7-20 two bearish candle formed with high volume in the month of july'20 and level of 2900 is critical from that point of view. So range of 2930-2900 is last good support below that negative price action can be seen.

6. Bajaj Finance Ltd

 
Bajaj Finance after making good Higher High and Lower Low chart pattern started trading small range of 3200-3320. Fresh Breakout can be seen above 3320 level with volume and breakdown below 3200 with volume. Level of 3200 is also important because on 21-7-20 there was huge negative volume with bearish candle.


7. Bata India:-


Regarding Bata India nothing much to explain because it is trading beautifully in falling channel taking resistance at upper band and support at lower band. A very good risk to reward ratio in Bata India for shorting. One can short at current level for stop loss above resistance line target for support zone. Simple....

8. Dabur India:-

 
Dabur at critical support level of 470 because below 470 it may turn to negative territory. So keep in watchlist for trading. Most important point to be noted here is confirmation from volume is missing. Yes there is no high volume either positive or negative. So if it sustain above 470 level with positive volume then one can go long for target of 490 and if sustain below 470 with negative volume then can go short.

9. Hindalco :-


Hindalco is trading in falling channel with lower range of 5-6 point. So once start trading below 154 level then trading range may expand to 20-30 point. However, confirmation from negative volume is required before taking short entry. And if close above 160 then again it can continue its upward rally towards 180-190 level.


10. Indian Oil Corporation:-



Indian Oil Corp (IOC) is trading at 91-95 range with good volume supported candle on 21-07-20. Once IOC starts trading above 95-97 then good up move can be seen towards 100-105. Currently strong support is at 90 level.

11. Jubilant Food Works:-



Jubilant Food Works is trading in "Reverse Header & Shoulder Pattern" and as per patter once it starts trading above 1800 then strong up move can be seen and below support level of 1670 it can start moving down. Before pattern it was trading in rising channel format.


12. Kotak Mahindra Bank:-



Kotak Bank is trading near strong resistance zone of 1350-1380. Once start trading above 1380 it can move up very quickly. However, no big volume observed since few days. So confirmation from volume is also required before taking entry. And negative point is that it is trading below trend line that you can see in chart. So in coming session price action can be seen kotak. If it fail to hold 1350 and start going down with volume then one can think about shorting.

 13. Nestle India:-



On 16-07-2020 after giving breakout with volume Nestle is trading at support level of 17000-17250. So one can go long from current level for target of 18500 with stop loss around 16700. Once level of 16700 breach with volume then trend may change.

14. Sun TV Network Ltd:



Interesting thing noted in Sun TV see in chart. Price is trading completely in rounding top formation. So one can remain short in Sun TV unless it break the level of rounding top formation. Keep this chart in your watch list and the day when it closed out of this drawing format then you can go for long. I have included Sun TV here because i found something new formation on chart.

I think this is enough for next trading session. Hahahahaha.... No i have mentioned all stocks where in movement can be seen in coming session. So if you like then please share, subscribe and comment with your input.

(Disclaimer:- This is only my view for Monday and next week. This is not paid advice nor tip.)

Thank You...

Happy Trading.

"Learn & Earn Motive Only"...


7 comments:

  1. Good analysis!! have a look at indigo, pvr, titan, sbi, icici and sunpharma!! They're worth looking into right now!

    ReplyDelete
  2. Superb analysis. Except dabur all were in my radar/ watchlist.

    ReplyDelete
  3. The dangers can be higher with Forex on the grounds that the moves in seven days can be proportionate to a month in stock moves. Unpredictability is normal. Farah

    ReplyDelete