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INTENT
The intent is to share my analysis and help you learn and identify the scrips of your choice on your own.
ON MY WATCHLIST FOR THE COMING WEEK
Important –
After a positive few weeks, finally saw a small fall. The index ended -1.07% making it the most “negative” week since September. Keeping this in mind, and considering how many stocks (especially from last week’s watchlist), have underperformed Nifty, I have included some updates to those stocks in the video linked to the view. Along with the update is one stock that is on my watchlist.
This selection might seem quite limited, but it appeared to be a fairly placed pick from the universe I choose my stocks from.
This stock is Dr. Reddy’s Laboratories Ltd (NS:). Stocks like IEX, Wipro (NS:) and Divis Labs still have potential, but the setups simply do not inspire much confidence at this stage.
I will be revisiting these stocks next week and keeping a close tab on them during this coming week since a huge chunk of their movement will come from the direction Nifty picks. As of 11:30 PM 11th December 2022, SGX Nifty indicated a flat-ish open for the Indian markets.
But the week might be anything but flat considering the economic events like India’s inflation numbers, US Fed’s rate decision, etc. will bring in some level of volatility.
For taking trades with a high probability of success, it is best to find a stock that fits into the bullish sector on monthly as well as weekly charts and once that is done, entry can be decided after considering the daily charts set-up. I leave the last step for you to perform.
Please note that via this post, I am making an attempt to showcase how one can analyze sectors and scrips using different timeframes, and therefore, I have included only a limited number of scrips as part of the watchlist. Using this approach, I recommend that you analyze the scrips that you have on your watchlist.
I may / may not take these trades as not every opportunity should / can be traded.
Here is the Video Link: https://youtu.be/2NTkhAoc2_Y
Thank you for your time and Happy Learning,
Not SEBI Regd.
The post is purely for educational & informational purposes only.
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