Trading Strategies for Bharat Petroleum, Kotak Mahindra Bank & Sun TV

Greetings, fellow investors!

Today we will examine three stocks which are Bharat Petroleum, Kotak Mahindra Bank (NS:KTKM), and Sun TV (NS:SUTV). However, before that, I will look at how the stocks I discussed in last week’s article and YouTube video performed. This is because it brings some accountability to the analysis.

Last Week’s Article and YouTube Video Performance:

Last week in the article and YouTube video, I explored three stocks. These are Escorts (NS:ESCO) Kubota, Aditya Birla Fashion (NS:ADIA), and IndusInd Bank (NS:INBK). All stocks performed as analysed which in turn delivered sizeable profits.

The first stock I analysed via the article was Aditya Birla Fashion. I stated that I was very bullish on the equity as I expected it to rise to my price target of ₹275. This analysis of mine was spot on as the stock rose to ₹277. This translated to a return of 15-18% within a single week, dependent upon your entry price.

Coming to Escorts Kubota and IndusInd Bank. Escorts was covered in the linked YouTube video and proved to be a lucrative opportunity. I say this as in my analysis I had stated that I held the stock as I expected a breakout, with targets of ₹3320 and ₹3450. This was correct, as we had a strong breakout towards ₹3320 and have so far made a return of roughly 9% within a week. The third stock analysed was IndusInd Bank for which I had told viewers to avoid the equity. I had emphasised that the equity was weak and ought to be avoided despite its positive recommendations elsewhere. This proved to be the right call, as the equity’s price plummeted to ₹1143.30 after hitting my resistance at ₹1520. By following this advice, you would have avoided a potential loss of 6%.

Bharat Petroleum (NS:BPCL), Kotak Mahindra Bank, and Sun TV:

Coming to the stocks of today. I have chosen to analyse Bharat Petroleum in the article while also looking at it in the YouTube video attached below. However, I have only analysed Kotak Mahindra Bank and Sun TV via the YouTube video. So be sure to watch the video to understand how to trade Kotak Mahindra Bank after the huge fall it had last week. Plus, how to trade Sun TV and make a decent profit in a short timeframe.

Now, let’s shift our focus to Bharat Petroleum. Currently, the stock is in a very narrow consolidation phase, trading between ₹572 and ₹619. However, there are indications that a bullish trend is brewing, as several factors are supporting my optimism. Firstly, the daily chart suggests a potential bullish crossover on the trend indicator. If this materialises, then it would provide support for the stock’s bulls. Secondly, the stock has held onto some key moving averages, showcasing underlying strength. Finally, there has been a shift in the volume buildup indicator. This is as for the prior few weeks it has been bearish but has now turned neutral. This is a positive development that could offer the stock the stability it needs to break out.

So, how might I approach trading the stock? Now, in my opinion, as long as the price remains above the support zone between ₹555 and ₹572, then the bullish narrative holds. Hence, I will hinge my entry on two scenarios. The first scenario is that if the stock were to fall to the support level mentioned above, then I would consider a long. This is as I would be picking the stock at a discount. However, I would only enter the stock partially at this point. This is because I would only scale the position up once we broke the box range resistance level at ₹619. Coming to the second scenario, if the stock remains in the current range, then I would only enter upon the breaking of ₹619. I am highlighting the ₹619 mark in both scenarios, as it is the point at which the stock will have cleared a key hurdle. Finally, a breakout above ₹619 opens up further short-term price targets of ₹660 and ₹698.

Overall, Bharat Petroleum stands at a critical juncture. If it can clear the level highlighted, then this will alter the chart structure in favour of the bulls. This, in turn, will cause the stock to have a significant upward move. Lastly, for those who are going to watch the YouTube video, Sun TV is a stock that you ought to track in the coming days. This is because the stock can do very well if it does as explained in the video. Coming to Kotak Mahindra Bank. I have shared at which levels I expect the stock to have a dead-cat bounce, which will trap many investors. Plus, how that dead cat bounce can be exploited by derivative traders.

Happy trading!

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