Swing Trading Opportunities for the Week Beginning 6-6-22

  • Stock Market Analysis
  • Editors Pick

INTENT

The intent is to share my analysis and help you learn and identify the scrips of your choice on your own.

ON MY WATCHLIST FOR THE COMING WEEK

Important -

And it was yet another volatile week which saw Nifty making a weekly low of 16438 & a weekly high of 16793. In comparison to the earlier sessions, this week’s range has been on the higher levels which is a good indication. Nifty fell from the high of 16793 to the low of 16567 on 3-6 which was more than 200 points and that is what has been the most hurting fall.

The reason is simple - Nifty had made EOD close above 16600, but yesterday [3-6], Nifty had the opportunity to close not the day, but also the week above 16700, and that was denied. This denial came mainly from the banks which drove down Bank Nifty closer to 35000 levels. This is not a goof sign just when it appeared that Bank Nifty would actually be driving the next round of up move in Nifty.

The SGX Nifty reading is about 100 points lower so Nifty may yet again fall back to the crucial support zone around 16400-450. As long as it holds above the level, it is likely to make some attempts to resume the up move. However, a break of 16400 on daily closing basis, would mean further weakness with a possibility of retest of 16000 levels.

The global cues have been driving the markets nowadays and the India Vix reading of just under 20 is also not comforting. This means that in the short-term, the indices are likely to remain choppy and wild moves are more likely.

SECTORS LOOKING GOOD FOR LONG POSITIONS- NIFTY 16584

This is a condensed list after reviewing Monthly, Weekly, and Daily Charts. As such not all the sectors may get listed here.

  • I have analyzed the sectors in 3 Categories:
    • Cat 1 - High probability of being Bullish
      • CPSE
      • FMCG
    • Cat 2 - Mildly Bullish
      • Auto
      • Commodities
      • Consumption
      • Energy
      • IT
      • Media
      • Metals
      • MNC
      • PSE
      • Realty
      • Services Sector
    • Cat 3 - Potential to turn mildly Bullish
      • Nifty

WEEKLY TIME FRAME- FOR LONG POSITIONS IN STOCKS - Nifty Spot at 16584

Bharat Petroleum Corp. Ltd. (NS: BPCL )
Restaurant Brands Asia Ltd (NS: RESR )
HDFC (NS: HDFC ) AMC
MCX (NS: MCEI )
Wipro (NS: WIPR )
Zomato (NS: ZOMT )
Dr. Reddy’s Laboratories Ltd (NS: REDY )
HDFC Life Insurance Company Ltd (NS: HDFL )
ICICI Bank Ltd (NS: ICBK )
ONGC (NS: ONGC )
Reliance (NS: RELI )
Bayer (ETR: BAYGN ) Crop
Puravankara Projects Ltd (NS: PURA )
Aditya Birla Capital Ltd (NS: ADTB )
Aditya Birla Fashion and Retail Ltd (NS: ADIA )
Berger Paints (NS: BRGR )
ICICI Prudential (LON: PRU ) Life Insurance Company Ltd (NS: ICIR )
Dr Lal PathLabs Ltd (NS: DLPA )
Info Edge India Ltd (NS: INED )
VIP Industries (NS: VIPI )
Cyber Media India Ltd (NS: CYBM )
Dabur India Ltd. (NS: DABU )
Va Tech Wabag Ltd (NS: VATE )
M.R.F. Ltd. (NS: MRF )

For taking trades with a high probability of success, it is best to find a stock that fits into the bullish sector on monthly as well as weekly charts and once that is done, entry can be decided after considering the daily charts set-up. I leave the last step for you to perform.

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/A9IpzL0gRdY

Note: The post is purely for educational & informational purposes only.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles