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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