Some Bullish Stocks ( Weekend Analysis on 11th April )

As we all have witnesses a lot of negativity around us, so i decided to talk about some positives that i am currently observing in this market. These should not be taken as buy or sell recommendations and these are not out of the woods yet. They are just looking good for a small swing and if follow through comes and is a good one, we will look to ride the trend as long as it lasts.

The first idea that i would like to discuss is Maruti.

This is a weekly chart of Maruti. Over here , we can see that this channel is being respected so far and a stop loss hunting was observed. If the channel has to be respected, we should get a follow through bullish candle which closes above this week's high. Only in that case we would most probably see a retest of the high of the channel. around 6500-7000 levels. 

This is daily chat of Maruti. Here we can see that the area ( 5500-5600 ) can act as an immediate resistance. So if we are looking to go long, we should better wait for the daily candle to settle above it comfortably. 

Next idea that i would like to discuss is Bajaj Finance.

First let's see the weekly chart of Bajaj Finance.

In weekly chart, we can see that 2 year old trendline is being respected and we even have a bullish candle right at the support which is a very good sign. A follow through candle would be a very good entry if some one wants to invest in this stock for long term. They can keep their stop loss at the break of this trendline. 

Now let's see the Daily chart. 

In daily chart, we can see that it has formed multiple bottoms at the same area and even MACD is positive now, which is a bullish confirmation. The first zone which it can possibly reach is around 2800 levels. 

New video about Stock Queries : Your Stock Queries : Answered | With Logic |

Kindly click the images to zoom it and see the levels clearly. 

Charts are taken from Chartink website. 
These are not buy or sell recommendation. Kindly do your own analysis before investing your hard earned money into any kind of financial instrument. 

Thanks, Happy Trading and Trade Like A Monk ;)


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