Last Day we have seen Indian markets are closed in Red for last 2 consecutive days. The BSE Sensex fell over 200 points on last Friday and Nifty closed below 18600 and reached in 8563 levels.
I have Posted some Breakout stocks last day which have already active and given good profits in some of the recommended stocks. Today am here with what will be the next move for TRENT, UJJIVANSFB, OLECTRA on Monday and their Breakout levels. TRENT has moved almost 1% last day but didn't cross the breakout levels, Ujjivan Small Finance Bank is the another stock which is near our breakout levels and the final one Olectra Greentech which moved 2% last Friday and now its near breakout levels which we can consider. So these are the 3 stocks which we are going to do chart analysis and to decide Buy or sell. To get Live Updates, please Join Our Telegram Channel for free.
Also Read our "Don't Miss This Breakout Stock in your Watchlist for June 2023" which we posted yesterday
TRENT Buy above 1621
Trent is moving sideways and trading in a range for last 5 days and it is trying to break the resistance levels of 1607 to 1621 levels. But this stock couldn't break this resistance levels. Also According to my trading setup its above 20,14,9 EMA which indicates a positive movement for this stock. So once we see a breakout above 1621, we can consider this for a buy. So please add this in your watchlist. Also 1584 is a good support level. While considering the targets it can go up to 1647 levels in few days and above that can give more upward. If the stock is not giving a breakout then after breaking support can move to 1550,1535.
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| Trent Chart Analysis |
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Do you Know "
How to Use VWAP indicator For Intraday Trading"
Olectra Greentech Buy above 823
This our 2nd stock near breakout in our list. Olectra is trading at 809 after a upside movement of 2 % on last Friday. This stock also moving in a range and rejected from the Resistance levels 811 to 823. So here also am expecting a breakout from this levels to give a targets of 3% or above and expected to reach 850 levels soon. Olectra also trading above 20,14,9 EMA which indicates a positive upside movement. So please consider this in your watch list for Market hours on Monday.
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| Olectra Chart Analysis for Monday |
Ujjivan Small Finance Bank Buy Above 38
3rd stock in our Breakout stock for Monday, You can consider this for a breakout above 38 levels, If it breaks the strong resistance level of 37 to 38. If its not able to break this resistance can give a fall to 34 levels as you can see in the Chart analysis given below. So this resistance levels are critical and only enter above the breakout levels. Please Consider 1.5%,3%,5% or more targets on this stock. Please don't forget to add Stoploss for this stock as per your risk.
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| Ujjivan Small Finance Bank chart analysis |
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Conclusion
So these are the 3 stocks you should consider in your watchlist for Monday trading hours. Please follow the breakout levels as mentioned above for each stocks to get benefited from the breakout. Also please note that all the levels given here are for study purpose and invest at your risk. We will be submitting more breakout stocks on next day, visit again.
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