Profitable Stocks for Next Week 17-08-20 to 21-08-20

Bajaj Auto/Bajaj Finance/Bharti Airtel/Britannia/Colgate/Cummins/Escorts/HDFC Bank/HDFC LIFE/Hindustan Unilever/SBI LIFE

 Bajaj Auto:-

Since last 10 days Bajaj Auto is consolidating between 3070-2970 and close near support of 2970. In coming week if it start trading below 2970 then we may see 2900 level soon.

Bajaj Finance:-


Bajaj Auto fail to give breakout above 3500 and closed at 3331. Highest selling volume noticed on 21 & 22 July'20 with fall in price and it fail to close above that bearish candle. So in coming session we can see downside move in Bajaj Auto towards 3100.

Bharti Airtel:-


Bharti Airtel after big consolidation of 3-4 month finally gave breakdown and expected levels are mentioned on chart. 

Britannia:-



Britannia Industries has formed Double Top Pattern on Daily chart and confirmation to go short will receive once it start trading below 3750. Other important data mentioned on chart. See the importance of volume.

Colgate Palmolive:-


Colgate One more from FMCG sector looks bearish along with Britannia. Important levels are mentioned on chart. After consolidation between 1430-1460 it closed at 1411 and therefore we may see downside level 1380.

Cummins India:-


A beautiful breakout seen with Price and volume in Cummins India last week. Hence for coming week it can move up as long as hold the level of 430-432 on closing basis.

Escorts:-


Last Friday session we have seen sell off in Auto section with 4% to 7% fall. Escort is one of the auto stock which is trading in 100 point range between 1170 & 1070. Keep this stock in watchlist. Good opportunity to take entry around breakdown or breakout level that mentioned on chat.

HDFC Bank:


HDFC Bank fail to cross above 1070 last week and closed at 1034. Hence for coming trading session 1070 will act as resistance and 1000-980 can act as support. 

HDFC Life:-


Since addition of HDFC Life in Nifty-50 index it has not performed well. And beautiful breakdown below 600 seen on last trading session. Hence it can now move towards 560 level and 600 can act as resistance.

Hindustan Unilever:-


HUL is trading between 2240-2170 since last 15-20 days. And currently closed at 2173 that is near to support of 2170. In coming session if it start trading below 2170 we may see downside level of 2125-2100. Keep this stock in watchlist. 

SBI Life Insurance:-


SBI Life after taking multiple support at 860-850 levels finally closed at 840 on Friday. Hence for coming session 850-860 will act as resistance and it can move towards 815 level.

(Disclaimer: Above is my personal view on stocks. It is neither Paid advice nor tip. Take your own decision.)

Thank You.

Happy Trading.

"Learn & Earn"

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