WEEKLY MARKET ANALYSIS FOR 26 AUG 2024 / Breakout Stocks For Trading And Investing

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Transcript
00:00Hello Friends, Welcome back to our YouTube Channel
00:11Today we are with yet another episode of our weekly market analysis series
00:16If you know then in this series, after closing the market on every Friday
00:23we analyze the performance of the indices in the market
00:27and on that basis, the outperforming indices and their constituents
00:33from which the indices are formed
00:36we do some stock analysis and include the good stocks in our next week's trading plan or investing plan
00:49Today is Friday 23rd August
00:54After closing the market, you can see that
00:58Nifty Small Cap Index, Metal Index and Peership Bank Index
01:03have shown an outperformance of 3.48 i.e. 3.5%, 3.3% and 2.54%
01:14Reality Index, Media has closed slightly positive and IT has closed at 0.52
01:25If you see, in this week, all the indices have given a positive closing i.e. the market has been up
01:32All the stocks must have been up
01:35We will discuss the stock analysis of the three major indices that have shown an outperformance in this week
01:45Friends, you watch our videos, but like it, share it with your friends
01:50If you have not subscribed to the channel, then subscribe to the channel and press the bell notification
01:56so that you will get updates of new videos immediately
02:00Now we will go to the chart and analyze the stock analysis of these indices
02:09If you want to see our old videos, then you can go to the channel link and see the old videos
02:16Then you will know how we do the analysis and how it performs
02:23The best performance of the index we saw was the small-cap index, then the middle and then the bank
02:33Now we will do the analysis in reverse direction
02:38First, we take the Bank Index
02:40We will analyze the two bank indices that we have analyzed
02:46The chart in front of us is the weekly chart of Nifty
02:51You can see that Nifty is trying to go back to its all-time high
02:57If the level is around 25,100, then there can be an outperformance in Nifty
03:10If we talk about the Bank Index, then it is still showing an underperformance
03:18In the channel we have drawn, which we have been discussing for a long time, the index of Nifty is trading
03:27And now it has come to the center line, so maybe this level acts as a resistance
03:34And if it comes up, then its all-time high of 53,500 can come
03:47If this level comes out, then the level around 53,500 will have to be broken to show a new outperformance
04:08And when this happens, then the stocks that make the Bank Index will also show a very good performance
04:17So let's go to the chart
04:19Now let's see the first chart of the Bank Index, which is Canara Bank
04:23The first chart of the PSB Bank Index is Canara Bank
04:29So we have opened the weekly chart of Canara Bank
04:33It had a very good bull rally, and then it came down to around 125 with this resistance
04:41So this level of 107 has acted as a support again and again
04:47So how should our trading plan be in this?
04:50When this candle has a high of 112.99, which is above 113, then we can initiate buying
05:01And our target will be around 10%
05:08And our stop-loss is the level below this
05:12If we put our stop-loss below this, then we have to put a stop-loss of 7-8%
05:17And against that we will get the first target of 10%
05:21And if this level comes out, then if we project this range above
05:30So that is our second target, which will come out almost 142.95, which is around 143 or around 140
05:39Our second target will be
05:41So if you see, if we buy from here, then the first 10% comes and the second one comes, it can be around 25%
05:49And our stop-loss will be the same 7-8%
05:54Then the next stop is Maharashtra Bank
06:00Maharashtra Bank or Bank of Maharashtra
06:02This is also a part of PSU Bank Index
06:06And this bank is also a very old bank, a very well-known bank
06:11If you see in this too, then you will find that it has been trading in a range for many weeks
06:20And the candle that closed last week, it closed on a positive note, which is a green candle
06:28So we don't have to buy it immediately, until the high of this candle comes out
06:33We will not buy it until then, only after that we will buy it
06:36Its high is 63.8, that is, after 64 we will make an entry in it
06:41So that we can get a confirmation that yes, there is more bullishness in it
06:46And our target will come, the first target will come around 11%
06:50And the second target will come around 22%, which is around 78
06:55And our stop-loss will be of this level, which is 6-7%
07:00We will have to take it below, which is around 59.8 or 60
07:07So if you look at the reason behind this, then we are taking this confirmation for it
07:12Because its RSI is between 60 and 40
07:17Now if you look at it exactly, then it is taking support at 50
07:22This is the level of 50, you can see here, it is coming up with its support
07:28It means that there can be outperformance in it, but we should have some assurance
07:34For this, we will buy it only after the level of 64 comes out
07:39So that we can see the RSI also doing outperformance
07:44So remember the level, we have to buy above it after 64
07:49And our first target will be 10-11%, which is around 71
07:54And the second target will be around 78.5, and the stop-loss will be around 60
07:59So friends, whatever stocks we are discussing here, we are not giving you the recommendation of buying or selling
08:05We are just telling you for a study purpose, how the stock is analyzed
08:11And you should never consider any stock as a recommendation
08:17You should study it yourself or make your investment plan or trading plan only after consulting with your financial advisor
08:24Otherwise, it can be very harmful for you and a lot of your wealth can be eroded in it
08:30So study the money yourself or make a decision only after discussing with your financial advisor
08:38We are just showing you how to do the analysis
08:44The next sector is the metal sector, and the stock we have analyzed in it is JSW Steel
08:50JSW Steel is a very well-known company of Jindal Steel
09:01So as you can see, it has been an outperforming stock for a long time
09:07And the last peak was around 9.50-9.60, which is the all-time high
09:15And it has shown to be closing
09:22So when this level will be over, we will make a new entry in it, which will come after 9.60
09:28And then we can get very good targets in it
09:31And after this, whenever we will make an entry, we will keep a stop loss of 10%
09:38And then we will set our target at 10% or 20% up as per 1H21 or 1H22
09:47So if we see, the 10% that comes after this, that target will be our first
09:52Here 10% will be around 1050, and 20% will be around 1150
10:03So with these two targets, we can make a buying entry
10:08And the stop loss will be 10%, which we will have to take around 860
10:16So in Jindal Steel, if we want to make an entry at 10%, then the entry will be after 9.60
10:21There will be 1050 and 1100 targets, and we will have to keep a stop loss of 860
10:28The next stock is Ratnamani
10:31Ratnamani Metals & Tubes
10:35This is also a part of Metal Index
10:38And if you see this company, it has shown a very good upward movement
10:46Later it came down with resistance, and now it is trading near its resistance level
10:53So we should make a new position after this level of 3750
11:04Because RSI is also below 60, so when it goes above this, RSI will give us confirmation that yes I am bullish
11:10And then our target will be, if we see this range, when we take it up
11:17So this should be our almost final target, that we can expect up to here, which will be around 29.8-30%
11:27So after this, if we want to see our stop loss, then it will be around 10%, which we will have to keep around 3400
11:36The entry will be after 3750, the stop loss will be 3400 and the target will be around 4860 or 4850
11:50And as soon as the stock moves in our direction, we will keep trailing our stop loss
11:57If we get a target of 30%, then we will bring our stop loss almost cost to cost, so that we do not lose
12:07Then if it goes up from here, if it looks around 15-20%, then we will bring our stop loss almost 5-10%
12:14So that we get at least that much profit
12:18And when this becomes our final target, then we can either book it or trail our stop loss
12:25Then we can take our stop loss around 20%
12:28So in this way we can do trading
12:31Then now our best output sector was small cap 100 and the stock analysis we have done from it is EXIDE Industries
12:44So now we will do the analysis of EXIDE Industries, which works in the battery sector and is a very well-known brand in India
12:53EXIDE and Amarra Raja
12:55So the chart of EXIDE has just opened in front of us
13:00Here is the green line, here I purchased it, but after my target came, I have left it
13:07So now the level we had marked, it is coming again after taking the resistance
13:15So now we can buy it, but when we do it, we will do it after leaving this level, which is around 520
13:22After leaving it, we will buy it, so the first target will be 10-11%
13:27Our stop loss will come around this level, which will have to keep a stop loss of around 460
13:33The first target will come, which is 575
13:36And our second target will come, which is around 20%, which is its all-time high, which is around 620
13:43And then as I told it last, we can keep it in trading stop loss or we can do our profit around it
13:53Then the next stop which is Castrol
13:59This is a very interesting stock, Castrol India
14:04If you see, Castrol India is a very well-known brand in lubricants, this company works
14:10And makes a lot of different lubricants, which come in automobiles and are used in industrial equipment
14:21So this company, Castrol, if you see, it was also with me, I took it around 170
14:28And for many years, you will see, it did not break that level, so I sold it as soon as it came around 170-180
14:38And now you see, it has closed at 266, it has gone up from almost 273-274
14:49So if you see, this stock, if we load the entire chart, you will see that it is trading around the all-time high level
15:02So such stocks can give a very good return, have the ability to give
15:10So as soon as this level will go out, we can project it up to this depth
15:18If we see, then from here to here, the height, we will project it up
15:27So if we see, then from 120 to 266 means we can expect Rs. 150 more
15:37So if we get Rs. 150 more in 270, then it will give us a target of almost Rs. 400
15:45So if we buy it in 266 or 270, then we can get a target of Rs. 400, which will give us a very good return
15:58So friends, that's all for now, keep doing stock analysis like this
16:03And if you find any stock, then put it in the comment box so that we can analyze it
16:09And we will discuss it with our other friends too
16:12That's all for now friends, thank you

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