Trading Setups For the Coming Week
Sharing Trading setups with Detailed Charts in both Cash & Derivative markets for the following week. Analysis strictly for educational purposes only. Please read the disclaimer at the end.
Good Morning Traders!
In what was a very volatile week, Nifty index slumped more than 750 points from the week’s high, but managed to gold on at its short term support zone. Currently placed at a critical juncture, any further downside would mean bears are back in business! Time to be careful.
Broader market was in troubled waters too, with sell-offs occurring across the board. IT sector bleeded the most, with considerable weakness seen in a large number of tech stocks.
Nevertheless, trading opportunities never dry out! The broad based sell-off has thrown up quite a bountiful of opportunistic trades, with very favourable Risk:Reward ratios. Read on to find out what they are!
FnO Space
I have provided only a single setup compared to the usual norm of 2, reason being I didn’t find any other favourable risk-reward trade! A bearish setup showing considerable weakness. Here it is below -
TECH MAHINDRA JAN FUTURES (CMP - 1596.7)
View - Bearish, expectation of heading downwards to next support zone. Volume backed selling observed. Will also look to execute on any pullback. Please see the chart below!
My Targets = 1535
View Invalidation = Close above 1650
Breakout Retest Trades
While there is weakness around, there are a few stocks which are yet to board the bear-train, and are holding strong at their previous breakout stations! Such setups offer very good risk-reward trades and can be traded with conviction if the chart elements are favourably placed. Here are a few of them given below -
SHYAM METALICS (CMP - 340.4)
Trade Setup - Pullback
View- Bullish bias with favourable R:R. Has given a bullish reversal candle. Expect to revisit previous highs. Check the chart below!
My Targets = 360 / 380
View Invalidation = Close below 325
VERTOZ ADVERTISING (CMP - 119.25)
Trade Setup - Pullback
View- Bullish bias with favourable R:R. Has given a bullish reversal candle. Expect to revisit previous highs. Check the chart below!
My Targets = 150 / 175
View Invalidation = Close below 107
BOROSIL LIMITED (CMP - 369.3)
Trade Setup - Pullback
View- Bullish bias with favourable R:R. Has given a pullback at the upper trendline of an upward channel. Expect to revisit previous highs on any reversal signs. Check the chart below!
My Targets = 460
View Invalidation = Close below 310
AARTI INDUSTRIES LTD (CMP - 1019.95)
Trade Setup - Pullback
View- Bullish bias with favourable R:R. Has given a pullback at its previous breakout zone. Expect to revisit previous highs on any reversal signs. Check the chart below!
My Targets = 1110 / 1180
View Invalidation = Close below 970
PRAJ INDUSTRIES LTD (CMP - 419.2)
Trade Setup - Pullback
View- Bullish bias with favourable R:R. Has given a pullback at its previous breakout zone. Expect to revisit previous highs on any reversal signs. Check the chart below!
My Targets = 450 / 480
View Invalidation = Close below 385
JK PAPER LTD (CMP - 225.2)
Trade Setup - Pullback
View- Bullish bias with favourable R:R. Has given a pullback at its previous breakout zone. Expect to revisit previous highs on any reversal signs. Check the chart below!
My Targets = 255 / 280
View Invalidation = Close below 205
That’s it from my side for the coming week as far as trade setups are concerned. I will be back again next week with multiple setups as well! Please undertake appropriate risk management while taking every trade. Stay safe, & in markets too!
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Disclaimer - Charts, analysis and trading setups shared above are purely for educational & learning purposes & are not directly or indirectly any form of recommendation or advice. Please consult your financial advisor / carry out your own research before taking action in financial markets. Not SEBI Registered.