Daily Stock Trading Tips - May 28
Check out the top five trading stock picks of the day by Sandeep Wagle, Founder & MD, APTART Technical Advisory Services.
UCO Bank
- RECOMMENDATION: BUY
- Last Close: Rs 73.60
- Target: Rs 78
- Stop Loss: Rs 71.70
- The stock has given ‘Triangular Pattern’ breakout on the daily charts. Moreover, volumes have picked in Wednesday’s trading session which indicates further upside in the next 2-3 trading sessions.
MphasiS
- RECOMMENDATION: SELL
- Last Close: Rs 599
- Target: Rs 568
- Stop Loss: Rs 614
- After a long consolidation of about 6-7 months, the stock has broken multiple support levels of 605-610. Moreover, there is tremendous increase in volumes along with the fall in price. The stock is already in a lower-top-lower-bottom formation on the weekly charts.
Indian Oil Corporation Ltd
- RECOMMENDATION: BUY
- Last Close: Rs 340
- Target: Rs 355
- Stop Loss: Rs 328
- The stock has given ‘V Pattern’ breakout on the daily charts. Moreover, the stock has cleared multiple resistance level of 332-334 on the weekly charts with rise in volumes. Traders are advised to buy the stock on declines up to 337.
Andhra Bank
- RECOMMENDATION: BUY
- Last Close: Rs 129.50
- Target: Rs 145
- Stop Loss: Rs 123
- The stock has given ‘Cup & Saucer Pattern’ breakout on the weekly charts three weeks ago. On the daily charts, the stock has retraced by 50% which is a good support area. Traders are advised to go long by keeping a stoploss at swing low. Time frame for the stock is 1-2 weeks.
Godrej Industries
- RECOMMENDATION: SELL
- Last Close: Rs 146.15
- Target: Rs 132
- Stop Loss: Rs 152
- The stock is on the verge of ‘Head & Shoulder Pattern’ breakdown on the weekly charts. The sharp rise in volumes on the daily chart indicates strong possibility of a breakdown below 144. Traders are advised to sell the stock below 144.
Source: Economic Times
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