Business & Investment

Day Trading Guide: Monday Day Trading Guide: Two Recommended Stocks

Benchmark index Nifty50 closed slightly green on Thursday, forming higher and lower lows after a two-day profit booking. This week, Nifty closed with a completely flat note. In addition, the index has entered a horizontal integration phase following the recent upward trend. The immediate hurdle for the rise is 17,400-17,430, a recent high cluster, with immediate support at the 17,260-17,200 level. Sustainable trading beyond the upper bound of the range, 17,400-17,430, resumes the uptrend and raises the index to the 17,550 level. However, if the resistance zone of 17,430 is stuck, profits can be triggered and the index can drop to the lower end of the range, 17,260-17,200. The daily time frame technical indicator RSI remains in the overbought territory, suggesting that the lateral integration phase may continue before breaking through the hurdle at 17,430.

Equity Recommendations: Prince Pipe

buy |
CMP @ Rs 719

the goal: Rs 770

Stop loss: Rs 690

After breaking out of the trendline resistance with good volume, stock prices resumed an uptrend. The technical indicator RSI has risen after receiving support at the 60th level, suggesting the strength of the stock price.

United Spirits


buy | @
CMP 755

the goal: Rs 810

Stop loss: Rs 727

Equities are on the verge of breaking out of a narrow consolidation phase following a recent rise. In addition, the large volume buildup in the preparatory phase prior to the integration phase suggests that breakouts need to continue. The technical indicator RSI above 60 levels also suggests a successful breakout for future cards.

(author, Aditya Agarwara, Senior Technical analysts, Yes security.. The view is his own)

Day Trading Guide: Monday Day Trading Guide: Two Recommended Stocks

https://economictimes.indiatimes.com/markets/stocks/news/day-trading-guide-for-monday-2-stock-recommendations/articleshow/86138168.cms Day Trading Guide: Monday Day Trading Guide: Two Recommended Stocks

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