Swing Trading Watchlist for the Week Beginning 05-12-22

INTENT

The intent is to share my analysis and help you learn and identify the scrips of your choice on your own. These have been identified from the watchlist of around 150+ stocks that I scan through every weekend using the weekly charts. This helps me narrow down the tradeable watchlist for long-only trades for the next few days.

Important Note:

EOD as of 02-12-22 is 18,696 & SGX Nifty at 0010hrs on 5-12-22 is at 18,855.

The indices have closed at their highest weekly close levels so the underlying current is bullish. However, Nifty was unable to cross 18,700 even after testing 18,800 for some time. This indicates that there may be large open sell orders above 18,700-18,800 as it has fallen from there a few times already. Also, has retraced 400+ points from its ATH at 43,515 which could act as a stiff resistance.

Unless these levels get taken out as a result of a gap-up opening or within the first hour of price action on 05/12/22, the indices may end up moving sideways or consolidate with some element of profit booking kicking in.

Based on the weekly analysis of the stocks listed in my watchlist, I find that there may be a few potential opportunities available in the week beginning 05/12/22 and here are the names of the stocks:

• IEX
• Divis Labs
• Muthoot Finance (NS:)
• Angel Broking
• Tech Mahindra (NS:)
• Trent (NS:)
• Wipro (NS:)
• Zomato (NS:)

Here is the video that explains the basis behind selecting the potential candidates:
https://youtu.be/iB1unkAWEj8

Conclusion:

Each week, usually stocks have to fight to get listed here, but this week, I had to work hard to find them. This is very unusual given the fact that the indices have ended at their weekly ATH levels. In fact, many stocks on my watchlist are below 200MA. I see this as a great opportunity as when they do cross the line on the upside, it would become a good risk-reward set-up.

Please note that I may or may not trade any or all of the names as it depends upon my trade plan. I encourage you to take only calculated risks in line with your trade objective and risk appetite.

Note:

Not SEBI Regd & this post has been shared purely for educational and informational purposes only.