Three Cherry-Picked Stock Ideas

In my last article, I had shared three quality stocks investors ought to track in 2022. Today I will go further and share three more names that traders ought to consider. This is as the stocks mentioned below are at a turning point and all have charts that look great.
 
The first equity I will cover is SeQuent Scientific Ltd (NS:SEQU). I chose equity as it is at an interesting juncture in terms of technicals and fundamentals. I say this as the stock had an exceptional rally from late 2020 to mid-2021, after which it had a deep correction. However, the stock has now been in consolidation for the past two months and is showing fresh signs of a breakout.
 
Moreover, on the fundamental front, the board of the firm made a wise move of appointing a well-known name as the new chief executive officer. This is as the new CEO is the former CEO of Sanofi (PA:SASY). Thus, this move will give investors a boost of confidence in the company. Coming to the resistance levels. If the stock breaks the Rs. 200 mark, then the next key resistance level to watch is at Rs. 227. A break of this would lead us to the longer-term resistance zone at Rs. 286.
 
The second stock I am looking at is Paras Defence and Space Technologies Ltd (NS:PRAF) and is one I hold with an entry price of Rs. 663. The stock post-IPO had an initial rise for the first three weeks, after which it fell from Rs. 1,258 to a low of Rs.650. However, why did I buy the stock amidst such a steep decline? The key reason I entered the equity is as in the weekly chart the stock has formed a bottom in the technical indicators. Plus, the stock had reached a quant support zone of mine. Nevertheless, the risk of a fresh fall will still loom over the heads of investors until the equity breaks above the candle resistance zone at Rs. 800. If it were to do this, then the next price target is the resistance zones at Rs. 930 and at Rs. 1,040. Once it reaches this zone, I will write about it with the next levels as I don’t plan to exit it even then.
 
The third stock is Nazara Technologies Ltd (NS:NAZA) and is one I hold with an entry price of Rs. 2,238. This is one equity that has the fundamental analysts very confused. This is as some of the lots call the company a dud on social media, whilst the other lot swear it is fundamentally sound. However, for those of us professionals who trade and manage funds in the real world and don’t only write reports, the stock is one you ought to keep an eye on.
 
I say this as the stock has formed an excellent pattern on the daily chart. This is as the former resistance level is now the new support. Plus, the stock has tested the support multiple times since October 2021, and it has always held. However, the reason I chose to review the stock now is that the equity is about to cross a major hurdle. If the equity were to break the resistance zone between Rs. 2,490 and Rs. 2,645, then the equity will have commenced a bullish trend in the long term.
 
If the stock breaks this zone, then short-term traders can consider the Rs. 3,000 price point as an initial target. However, medium and long-term traders can expect the stock to ride up to the resistance zone at Rs. 3,230. If it were to clear this, then it opens up the stock for a run-up until the resistance at Rs. 3,480.
 
Overall, the stocks covered above are all at a critical turning point. Which, if successful, will provide traders with a sizable return on their capital. Lastly, coming to the overall direction of the indexes. I mostly write about the indexes instead of equities. However, from now on, the index-related trading plans will be updated only via my Twitter (NYSE:TWTR) handle. This is as I want the articles to cover equities as only a percentage of readers trade the indexes whilst all trade equities. Thus, this way the information shared here will be useful to more people. 
 
Good luck trading. 

Disclaimer: The investments discussed by Sandeep Singh Ahluwalia may not be suitable for all investors. Thus, you must trust your analysis and judgment before making investment decisions. The report provided is for informational purposes only and should not be interpreted as a proposition to buy or sell any securities.