Sunday, August 7, 2022

Tata Steel Now Just In 100 Rupees, Can We Buy?

Friends, today we are going to discuss one of the leading and trusted company that is TATA STEEL Ltd. Recently the company has split the share by 1:10 and increased share quantities. The share price was around 980 and it started to trade at around 98 rupees. Now new long-term investors will attract to this price and start to invest in it. As per our view, current levels are good for investors, let's focus on technical charts and fundamentals.

Monthly Chart: On the major time frame price is trading in a downtrend and continuing the downward channel as shown in the below chart. However, if we compare the last two weeks candle then there is a Bullish Engulf that has been confirmed. That is a good sign for up moves, the stock currently trading near the resistance of 108-110. Once it crosses then we will see the levels of 120/122 in a few days. Still stock price needs to break channel for big up moves.



Weekly Chart: After taking the rest of 4 weeks stock price has shown a good rally in the last week and confirmed Morning Star. Before going up we are expecting some profit booking then it will go up. If the price comes down near 100 then it will be a good opportunity to accumulate the shares.

Fundamental: The company has a presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products. The business line is good and products are demanding in the future.

  • The company is on the second rank in the steel sector.
  • Net profits are increasing quarterly & yearly.
  • The company is increasing its assets.
  • The cash flow is very strong.
  • 75% of shareholders are Promoters, FIIs, and DIIs.
  • Return on equity is around 42%.
  • Stock is providing a good dividend yield of 4.75%.


Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Sunday, July 17, 2022

NIFTY Filled The Gap, Now Ready For 16700..!

Friends, before going to chart analysis need to take an overview of global clues. The Russia-Ukraine crisis is cooling off and parallelly commodity prices are coming down. USDINR hitting a lifetime high, but the CRUDE price is under control. FIIs are not ready to stop their selling however DIIs defending the same. Some are positive and a few are negative things going on. That is the reason market is volatile in day trading. If we look for positional then the market is positive and made a bottom in short term. The reason is commodity prices are cooling off.

NIFTY 50: Index was in a downtrend from April 2022, falling from 18000 to 15200. Before the 5-6 trading session it has given breakout to important resistance of 15900 and went up to 16250. These 15900 to 16250 ranges were gap down and as expected Nifty shown profit booking from the same levels. Recently it has tested its support 15900 and confirmed a new Higher Low. Now Nifty is again ready for 16250 with short-term support of 15800. For 16500/16700 need cross levels of 16250 then we will see rapid moves.












We have discussed the chart, if we look at the weekly option chain then data looking for both sides. On the call side long build-up happened till 16500 which means option buyers are bullish. On the other hand, all nearest put premiums show a short build-up that is also a bullish signal.











Overall market looking positive as per fundamentals, chart, and options data.

BANKNIFTY: The index showing strength but needs to cross important levels of 35500/35800 for more up moves. It is still trading in a downtrend. As per the weekly options data trend is not clear as both sides are a short build-up done. We have to wait for a breakout and clear trend as per option data.












Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Saturday, June 18, 2022

Is It Right Time To Go With PayTm?

I think yes, as everyone knows PayTm and its business module. PayTm launched its IPO in November 2021 and many peoples applied for it. They were expecting a listing gain as listing gain was trending. However, the stock price has fallen from 1950 after listing, and right now it is at 630. Price is at a lifetime low that is not the reason to buy. Let’s discuss the chart and fundamentals.

Fundamentals: PayTm provides services like Merchants, paying bills, recharges, transferring money, online shopping, book movie & travel tickets. Also, they are coming into financial services and products. We can say that PayTm is all in one, right now they are focusing on business expansion. Currently, the company is making a loss but the company is almost debt-free. Assets are increasing and the company has good cash flow. Once they settle down in the business then the net profit will increase. As per our study business is good and demand in the future.

Monthly Chart: Price has nonstop fallen from November 2021 to March 2022. Then stock has taken rest and made Inverted Hammer on a chart with high volumes. The next candle is positive and confirmed Morning Star.



Weekly Chart: This time frame shows a Narrow Triangle that has Lower Low and Higher Low. However overall chart’s behavior and volumes are showing big bulls are accumulating the stock. They are building the bottom on the chart. We just need breakout for more up moves, so we can also enjoy a bull ride.



Daily Chart: On a shorter time frame stock has made Cup & Handle and showing buying in every fall with high volumes. We can say that big players or institutions are adding it to the portfolio.



We are bullish on the stock from the current levels for the next 1-3 years.


Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Sunday, June 12, 2022

USA Inflation At High, What Impacts On Indian Market?

Friends, our market is reacting to global clues from the last few months like FIIs Selling, the Russia-Ukraine war, & now the USA Inflation rate hike. This weekend America has declared its inflation rates and CPI was hiked by 8.6%. Current rates have hit 40 years highs and that impacts on USA stock market. In the last two trading sessions, Dow Jones has lost the last 15-20 days of recovery and came again near support levels. These two days fall will impact our market.










NIFTY50: After Cup & Handle breakout Nifty touches 16700-16800 which was resistance as per option data and the index has gradually fallen from the same. The market has shown good short covering on the last weekly expiry and closed at the day high. The next day again opened gap-down due to the American market and closed at support levels of 16200. However, SGX Nifty indicating a gap-down opening at 16000 and that is the next support level. Also, 15900-15500 is the demand zone on a weekly chart and our markets are looking strong. So we can expect a bounce from this zone but we have to wait for confirmation on the charts.










BANKNIFTY: On the weekly chart, banknifty is in the Lower-Low Lower-High trend and it has corrected from the trendline resistance. On the daily chart it has closed near support levels, now we have to see will it sustain or break. If banknifty opens and closed below 34000 then we can see 33000 again that is the demand zone.










Important levels for the coming week are below

Nifty: Support:- 15800-16000 | Resistance:- 16400-16500

Bank Nifty:- Support:- 34000-33500 | Resistance:- 34500-34800


Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.


Sunday, June 5, 2022

Two Long Term Stocks From Adani Group

Today we are going to discuss two stocks from Adani Group. Both are at good levels to enter for the long side. As we know Adani Group is very strong and both companies are very strong as per fundamentals. Both stock prices are corrected from the top and now at the support levels. Let's discuss the chart in brief and levels.

ADANI GREEN: On the chart of this stock from January to March price is in consolidation and then it has given a breakout. With that rally, volumes were increased day by day and the price went to 3000 from 1800 within the month. Now again stock price has come into this demand zone and we are expecting a bounce from this level. As price has oversold as per indicator and volumes are increased in last week with a green candle. We are expecting up moves from these levels till 2200/2400 and support is around 1800-1700.










ADANI ENT: This stock has made Double Bottom on the daily chart, we are just waiting for a breakout. This stock also fallen from the top and tested their support of 1900. Made Hammer before a few days, if we look at the volumes it has increased with the price. So we can expect the same that bulls are active and recently the stock price has bounced from its 20 & 50 DMA. We are expecting some dip before breakout but after resistance break, we are expecting levels of 2400+. The overall trend is up and fundamentally company is strong.












Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Saturday, May 21, 2022

Double Bottom On Nifty 50, What Next?

In an earlier write up we have said that the market trend was sell on the rise and the market reacted the same. Nifty 50 touched the levels of 15750 and was given a sharp bounce back on 17th May. However, that bounce back was not a fresh rally that was only short covering. Everyone was happy by seeing the huge rally and Morning Star on a daily chart of Nifty. But the market has given a surprise on weekly expiry by opening gap down with more than 300 points and on next day opened gap up by 250 points. Many trader's stop-losses are triggered in this trap of bull & bear. We faced this roller coaster ride of the market and we can say this ride has been done. Now the market is ready to move towards 16600/17000 til the monthly expiry.

Nifty 50: The index has a complete Double Bottom on the daily chart and has confirmed bottom out. Right now it has closed near resistance 16300, need breakout to this supply zone for trend change confirmation. We are bullish on the Nifty 50 from current levels and our view is to buy in dips. The strong support levels are 16000/15800 and resistances are 16500/16700.













Banknifty: Bank index is also reacting the same as the Nifty, bank leaders recovered from the bottom. The index has completed Cup & Handle and shown a green flag to bulls. Banknifty is ready for up moves but closed near resistance, still we are bullish here also. The strong support levels are 34000/33500 and resistance levels are 34600/35000.











If we look at the RSI indicator on a daily time frame then it has shown divergence on both indexes. However, American indexes are in a downtrend so we have to trade cautiously or stick to intraday. Our opinion is to prefer large-cap stocks for some days to avoid big losses.


Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Sunday, May 15, 2022

Double Bottom Breakout On Gujrat Gas Ltd.

Friends, nowadays the market situation is very panic and volatile. Short-term stock traders are not able to make a profit and getting panic. The main questions are What to do in this panic market? Where to invest? The answer is short term traders should have to wait for some days or they have to prefer a large-cap stock only with small risk. Otherwise, they have to shift from short to long term with partial accumulation.

In this choppy market, we found one stock that is looking strong on multiple time frames. The stock is Gujrat Gas Ltd which has strong fundamentals and the week + day chart has given a U-turn signal.

Month: In August 2021 stock price has made lifetime high and showed a reversal. From highs, the stock has given a correction of 25-30% and then taken rest for four months. Due to the Russia-Ukraine war, Natural Gas prices are increased and gas stocks are broken support. Gujgas Ltd came into the previous demand zone and taking a turn is a good sign of reversal i.e. Morning Star.



Week: On the medium-term chart, the stock has taken support from 500 levels and given a nice breakout with volumes. There is a Double Bottom confirmation on the chart. Next supply zones are around 610/650/700 before going to these levels if we get a dip till 550-540 then good levels to enter.



Day: On a daily chart, the stock has given a breakout after quarterly results and if we look at the results then it's good than the expectation. Now the stock is ready to move towards its 200 DMA and the stock has good fundamentals.



















Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.