Stock Pick For Monday, March 21, 2022

Published 21-03-2022, 07:52 am
NSEI
-
NSEBANK
-
ARTI
-
LIND
-
DAMS
-
RHIM
-
ANGO
-

In the previous session, the NIFTY extended its gain in yet another day and made a high near 17344 levels. The markets opened on a gap-up note and maintained their positive gain throughout the day. Technically, the Nifty index formed a strong bullish candle on the chart and closed with a net gain of 311.70 points.17318 level is a key resistance point for the Index now, which is a 61.8% retracement level of the Fibonacci series. Hence a cautious approach is advisable for the next trading day. Use a trailing stop loss method to protect your profit at higher levels.

Indian Stock Market will open gap positive. Technically, the Indian Stock Market is still in the positive zone and analysis will remain the same. Traders should continue to hold long positions in the market until it holds above 16901 levels for Nifty and 35400 levels for BankNifty. For excellent profits in Intraday, traders can follow Breakout and Breakdown signals at Unicorn Signals by EquityPandit.

UNICORN [Last Week Top Profitable Stocks]
Monday: Dhampur Sugar (NS:DAMS) Gave 18% Returns
Tuesday: Linde India (NS:LIND) Gave 12% Returns
Wednesday: RHI Magnesita (NS:RHIM) Gave 11% Returns
Thursday: ANGELONE (NS:ANGO) Gave 10.46% Returns

Following stock looks technically strong for swing trading and traders can go long at below given levels:

Aarti Industries (NS:ARTI) Ltd


NSE: AARTIIND BSE:524208 Sector: Chemicals

In the last trading day, the stock formed a strong bullish candle on the daily chart. Stock made Higher highs and Higher lows formation compared to the previous closing. The Parabolic dots are moving below the prices which indicates that stock is now in an uptrend. This indicator is most useful in terms of Entry and Exit levels in any stocks for trading purposes. We have plotted the Fibonacci Retracement indicator. Stock is now quoting above 23.6% of the retracement level. Also, Stock is comfortably closed above the 20 EMA support which confirms the bullish trend.

In short, the trend for AARTIIND looks to be positive now. A throwback can be expected near 860-862 levels. Use dips as a buying opportunity for a move towards 911/950 levels as long as we do not see any closing below 818 levels.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.