Stock Pick for Wednesday, June 23, 2021

  • Stock Market Analysis

In the previous session, the market opened on a strong positive note and made a high near 15895.75. However, it came off from its high to end near its day low and closed with a net gain of 26.25 points. The index formed a Bearish candle on the chart which can be considered as a Shooting star with a small upper wick. The MACD indicator is still bearish and moving below its signal line. The market looks to be volatile in the coming session. Hence a cautious approach is advisable for the next trading day.

Nifty has already entered the positive zone. Traders can initiate fresh long positions if BankNifty manages to close above 34914 levels. Following Stock looks technically strong and traders can go long at the dip in the market.

Avenue Supermarts Ltd (NS: AVEU )


On the daily chart, we can see that prices have formed a ‘V- Bottom pattern’. It’s a bullish pattern that looks like the name that they are called. The best way to trade in the V-Bottom pattern is to wait for the price to break the neckline of the pattern and then enter a position once the price retests the neckline level. In the previous session, the stock retested the higher level and closed above the neckline of the pattern with a bullish candle. The momentum on the upside remains strong. Now a move above 3410 will confirm the uptrend and open up gates for higher levels towards 3500/3700 levels. The level of 3250 remains intact on the lower side.

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  • Devang Desai @Devang Desai
    Vaat laga di….yesterday, did not work…it was Huge Lost
    Like 0
    • dharmendra patel @dharmendra patel
      As per condition do not do trade before go above 3410
      Like 0
    • sree nitw @sree nitw
      U should read his suggestion carefully before taking the trade....He clearly said its a buy above 3410.
      Like 0
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  • Prakash Bhavsar @Prakash Bhavsar
    good analysis
    Like 0
  • Sanjay Patil @Sanjay Patil
    as u suggested we weighted the magic figure 3410 and not taken any trade
    Like 1
    • dharmendra patel @dharmendra patel
      write
      Like 0
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  • Guru Krish @Guru Krish
    Not a good one for Today bro
    Like 1
  • Luv Sharma @Luv Sharma
    How do you come across these shares pls guide
    Like 0
  • Luv Sharma @Luv Sharma
    How do you come across these shares pls guide
    Like 0
  • Ajit Kumar Panda @Ajit Kumar Panda
    thanks
    Like 0
  • Pradeep Palani @Pradeep Palani
    super
    Like 0
  • Giridhar Idekar @Giridhar Idekar
    Great
    Like 0
  • Ulhas Kharche @Ulhas Kharche
    great
    Like 1
  • Ulhas Kharche @Ulhas Kharche
    great
    Like 0
  • Piyush Kumar Merwal @Piyush Kumar Merwal
    kuch bhi
    Like 6
    • vishal soni @vishal soni
      @Piyush Kumar Merwal what you mean
      Like 0
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