Top 5 Intraday ‘Trading’ Picks that could return up to 6% 5/5 (2)

Trading Calls

(1) Tech Mahindra:

The stock witnessed a volatile trading session on 5th February and a formed a Spinning Top indicating  a strong tug of war between the buyers and the sellers. The next leg of buying may initiate above 756/- levels, which is the immediate resistance for the stock.

Trade Date- 6/02/2019

Intraday levels for the stock-

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >756 749 768 775

 

(2) DHFL:

The stock looks very weak in short/medium term however, it is currently in a bounce back phase and the reverse rally may continue in immediate next session, as well. Intraday traders may look to buy the stock above 123.75/- levels.

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >123.75 121 125 129

 

(3) UPL:

The stock has formed a Star Candlestick pattern on Daily charts , which suggests strong buyers being queued up in the counter. Star Pattern indicates a Gap up opening in the stock followed by a strong buying interest during the day. This bullish interest may continue in next session as well. Intraday traders may initiate fresh longs above 800 odd levels.

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >800.20 795 806 812

Also Check out this post- Top 3 Short Term ‘Trading’ Calls that could return 3-10% in February

(4) Infibeam:

The stock has been drifting lower since last few months and the sentiment prevailing in the counter is quite negative. Totally controlled by bears, the stock is poised to witness lower levels in all time frame. Intraday traders may look to short this stock below the immediate support of 32.55/-.

Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <32.55 33.05 31.70 31.00

(5) Axis Bank:

The stock is trading at fresh highs and is maintaining itself well above the immediate support of 10 and 5 EMA in Hourly time frame. A strong buying interest in the counter may again push the stock to fresh weekly highs in immediate short term. Intraday traders may initiate fresh longs above 731.80/- .

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >731.80 726 737 743

 

*All levels mentioned are of cash segment.

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Author: Traders' Chowk

2 thoughts on “Top 5 Intraday ‘Trading’ Picks that could return up to 6%

    1. Infibeam looks weak in short/medium term (1 month-3 months) time frame. However, in immediate short term it may witness a short rally but that doesn’t mean the higher levels are going to sustain. In my opinion, this is not a stock for buying and following weeks/months may again see lower levels.

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