Profitable Stocks for Next Week 31-08-2020 to 04-09-2020

 Adani Port:-


"Adani Port" has formed "Cup & Handle Pattern" on Daily chart. As per Pattern we may see breakout above 365-366 level. If next week Adani Port manage to sustain above 350 and close above 366 then it can move up towards 380-400 level.

Apollo Hospital:-


"Apollo Hospital" is trading at 1661 and took support around 1635-1650, hence for coming week if it starts trading above 1700 then it can move towards 1800 level which is previous high. It has given breakout in July'20 and in Aug'20 it corrected well hence in the month of Sep'20 we may see new high in Apollo. From price action point of view also looks positive because no negative volume observed in August'20 with high quantity. Keep in watchlist as Swing Trading point of view.

Balkrishna Industries:



Interesting Price structure in "Balkrishna Ind". On 14th Aug'20 it has formed Bearish Candle with High Negative volume and after two days price started moving up and manage to sustain above 1375 level. The high of 14th Aug'20 was 1398 and since 14th Aug'20 to 28th Aug'20 it has not given any closing above 1398 means 1398-1400 is strong resistance level for it. The moment is start trading above 1400-1420 we may see upward rally towards 1475-1500 and reason is that all sellers of 14th Aug'20 will be trapped and new fresh buying can be seen above 1420.  

Bandhan Bank:-


There is "Triangle Pattern" breakout in "Bandhan Bank" last week at 300 and closed at 320. Hence as far as it sustain above 315-320 we may see previous swing high of 360-400. And for coming week Financial Sector is looking strong so Bandhan Bank may perform well.

Bharti Airtel:-


"Bharti Airtel"
my last week stock as suggested from shorting point of view with Stop Loss of 540 is still intact for coming week also. As far as it sustain below 540 trend remain negative with target price of 500-484. During last week it has not even touched the level of 540 and therefore view is negative.

Britannia Industries:-



Regarding "Britannia Ind" i have mentioned in detail about price action here. There is breakdown below 3750 in Britannia Ind. Since 1.5 months it is trading between 4000 to 3750 and current closing price is 3793 that is near to 3750. Hence, keep it in watchlist for shorting candidate. My view on FMCG sector is bearish for next week.

HDFC:-


"HDFC" is trading at Breakout level of 1880. Last week we have seen breakout in Financial Sector and HDFC is one of them which has not yet performed well. As per Daily chart positive volume can be seen since last two days and price is closed at 1883. Above 1885 it can give breakout  towards 1910-1950 in coming week. On closing basis it has to maintain 1880-1850 level. 


HDFC Life Insurance:-


"HDFC Life Insurance" is facing resistance around 600 and fail to sustain above it. On Daily chart it is trading in lower parallel channel with lower low and lower high chart formation. Hence, for coming week it may test level of 550-557 on downside. Short term support is at 585 if manage to hold this level then it may trade between 585-600 and below 585 downside is open.

Hindustan Unilever:-


"Hindustan Unilever" one of the leading stock from FMCG sector has give breakdown below 2170 on friday. Since very long time it has consolidated between 2240-2170 and on Friday gave closing below 2170 at 2151 which is negative for coming week. For coming week if it fail to sustain above 2170 then we may see lower levels that i have mentioned on chart. As per chart immediate support is placed at 2150 and below that 2118 and once start trading below 2118 then we may see downside risk towards 2050. 

INFOSYS Ltd:-


"Infosys Ltd" from IT Sector looks bearish for next week if start trading support level of 935-940 for downside target of 900. Since last one month it has traded between 985-935 that is 50 point range and friday closed at 935 at support level, hence in coming week if it start trading below 935 then we may see level of 900. Positive price action can be seen only above 985. Between 985-935 no trading zone.

Kotak Mahindra Bank:-


"Kotak Mahindra Bank"
one of the Private sector bank looks positive for Next week. With overall out-performance of Financial Sector last week Kotak is one of the bank with lower down side and higher upside. Last week majority bank performed well including Kotak bank, but kotak can still perform better than other banks in coming week. Above chart is Weekly and as per weekly chart next target for Kotak is 1540 with stop loss of 1450-1400. 

Lic Housing Finance:-


On a weekly chart of "LIC Housing Finance" there is good price volume action seen last week. For coming week LIC may try to test levels of 350-360 as far as sustain above 300. Risk reward is favourable for long entry around 310-305 with stop loss of 300. Keep this stock for long entry in watch list.

Shriram Transport Finance:-



On weekly chart there is resistance around 800 level for Shriram Transport and once it start trading above 800 then it can test level of 880 in coming trading sessions. Stop loss should be 800 on closing basis if it start trading above 800 and closed above 800.




Thank You..!!

Happy Trading..!!

"Learn & Earn"...!!!


(Disclaimers:- Above is my personal view on market for next week. It is neither Paid service nor tip. Just for educational purpose only. Take your own decision before any trade).


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