Today we shall be looking at a cluster of stocks that are providing investors with an exciting opportunity to make a worthy level of return alongside a favourable risk reward scenario.
HDFC Bank (NS:HDBK):
HDFC Bank is an equity that is signalling to traders to exploit the astounding opportunity it is currently offering. I say that as the equity is trading at its envelope pattern contour thus placing it at a crossroad of an upside and downside. This in turn leaves investors perplexed whether to go long or short on the equity. However, here is where various other technical indicators come to the rescue as the RSI of the equity is flirting with the mid-range between 40 and 60. Moreover, the equity has currently scaled away from its longer-term exponential moving averages thus clearly indicating that a good move is round the bend.
Punjab National Bank (NS:PNBK):
Punjab National Bank yesterday released its results which I have to admit weren’t a ray of sunshine but we all knew that the results ought to be poor due to the financial scam. However, the positive fact about the results is that they were poor but not as horrid as we had expected.
Due to the expected poor results coming out the equity tumbled which even a mongoose could have anticipated but no that’s not the case as certain ‘technical’ analysts on Indian financial television networks were giving long calls on the stock a day before (LOL). But now as the stock has done the large expected bearish drop that wiped out all the bullish vigour seen in the prior week, thus, we can now a sigh a breath of relief as the big move is over. I say that as the equity halted its fall at a key support area thus making the bears nervous and the bulls optimistic.
Axis Bank has been trading ideally in technical analysis terms as the equity has had identical upswings and downswings that have aided investors in attaining an easy level of return. The last upswing got a party gift on 27th July as the equity managed to break out of a key resistance zone and that too with stout bullish vigour thus making market optimists very happy. But now as the equity has hit another key resistance level, investors shall be worrying whether it shall go for a second wave of ascent or it shall it drop and form a change of polarity level.
From the beginning of 2017, Avanti feeds has seen unprecedented levels of price action. I say that as the equity opened the year 2017 with a bang which resulted in it ascending by 502% till November 2017. However, after that the equity made a turnaround that blew the pants off long term investors as the stock tumbled incessantly which resulted in a fall from Rs 986 to Rs 390 by July 2018. However, the equity has now been trying to claw its way up from the dumpster it dropped into and this has resulted in it scaling to the Rs 547 mark. Nevertheless, the equity has now hit a tiny snafu which is identical to the one seen last week. Thus, the question arising in investors’ minds is whether this is merely an identical glitch as the one seen last week which resulted in a further bullish run or is it a change in trend directionality.
The big picture:
Overall, I am confident that the four above stocks have a high probability of charting a lucrative path in the coming future.
Good luck trading.
Sandeep Singh Ahluwalia
MCSI (UK), MSc Fin (UK), MCom (India), BSc Econ (UK)
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.