Swing Trading Opportunities for the Week Beginning 24-01-22

  • Stock Market Analysis
UMESH RINDANI

INTENT

I will only be sharing the time frame and the scrip name. I will leave the trade basis aside as the intent is to engage the reader in learning the basics of finding good scrips. You can have a look at the charts and place your favorite indicators and check out if any of these fit your trade plan.

Some readers feel that I am simply listing down several scrips so that if they go up I can claim so. This is not the case - I am not here to score any points. I am sharing my weekly analysis and if you like it, read it and if you do not agree, I am fine with that. 

ON MY WATCHLIST FOR THE COMING WEEK

Important - 

The indices have back again fallen below the key levels. Nifty is below 18000 and Bank Nifty below 38000. The last 2 days in particular have created major panic selling and during the week concluded on 21-1, even DIIs have turned net sellers for a few days. This is a big change and as usual, FIIs have been selling in an unprecedented manner. In view of this, it is advisable to exercise caution with only 5 sessions to go before the presentation of the Union Budget.

I have filtered the sectors based on Monthly candles. Here are the likely candidates for the week - 

SECTORS LOOKING GOOD FOR LONG POSITIONS-

Considering the Monthly Charts, the following sectors look good: NIFTY SPOT at 17617

At this time, I have also chosen sectors with an additional filter of Fibonacci Retracement using the Covid swing low as the base. 

  • Auto
  • Bank Nifty
  • Media
  • PSE
  • PSU Bank

There are many sectors that are already strongly bullish and these have not been listed above. So if you find a sector bullish on the weekly charts, please check out the monthly as well to confirm its bullishness. 

Considering the Weekly Charts, the following sectors look good:

  • Nifty
  • Auto
  • FMCG
  • Infra
  • IT
  • Media

Clearly, there are a lesser number of sectors that have been shortlisted as that is what the charts indicate. This may be on account of the recent downturn in the indices. 

WEEKLY TIME FRAME- FOR LONG POSITIONS - Nifty Spot at 17617

Please note that via this post, I am making an attempt to showcase how one can analyze sectors and scrips using different timeframes and therefore, I have included only a limited number of scrips as part of the watchlist. Using this approach, I recommend that you analyze the scrips that you have on your watchlist. 

I may / may not take these trades as not every opportunity should / can be traded. 

Here is the Video Link: https://youtu.be/PxW8SHafk6E

The post is purely for educational & informational purposes only.

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  • Alankar Kumar @Alankar Kumar
    I can list 10 stocks and mention sectors which favour a bullish bias and definetly some will go up.This is not analysis.
    Like 4
    • Umesh Rindani @Umesh Rindani
      Thank you for the feedback. I suggest please do so as it will help you in the process of becoming a good trader. I wish you well.
      Like 2
    • Rajeev Mishra @Rajeev Mishra
      Umesh Ji, Thanks for all the hard work you put in. It helps us. Please continue with the good work.
      Like 1

      • Comment Guidelines

      We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

      • Enrich the conversation
      • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
      • Be respectful. Even negative opinions can be framed positively and diplomatically.
      •  Use standard writing style. Include punctuation and upper and lower cases.
      • NOTE: Spam and/or promotional messages and links within a comment will be removed
      • Avoid profanity, slander or personal attacks directed at an author or another user.
      • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
      • Only English comments will be allowed.

      Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

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