Don’t Miss These Swing Trading Ideas!
Bear market is the friend of the investor!
Though the first week of August 2022 began with good gains for the first session of the week, it then moved both ways amidst consolidation before big one-sided movements in the coming weeks.
While the Russia-Ukraine conflict continues, tensions between the US and China over the Taiwan issue are likely to add fuel to the fire. Though the market suffered minor losses ahead of the RBI policy meeting, the expected rate hike of 50 basis points did not cause significant damage to markets.
With the third positive week in a row, we witnessed hat trick of green weeks. However, the gaining momentum marked declining trends. FII turning net buyers brought cheers for the bull operators.
Here are some strong stocks to bet on to earn healthy gains for the next week:
1. Bectorfood
Business Overview:
Mrs. Bectors Food Specialities Ltd manufactures biscuits and bakery products that are marketed under Mrs. Bector’s Cremica and Mrs. Bector’s English Oven brands, respectively.
Its product range is inclusive of: Biscuits- Digestives, Crackers, Cookies, Cream, Marie Branded bread & 3 bakery products business- Buns, Frozen Products.
Technical View:
Bectorfood rise over 7% in this week and closed near weekly high. Stock is getting ready for next up move as it came out of major resistance level of 318.
Accumulate this stock at retest level of 318-325 for the upside of 372 and 408 with the support level of 300.
2. Koltepatil
Business Overview:
Company is in real estate business (Residential & Commercial) with dominant presence in the Pune and growing presence in Mumbai and Bengaluru.
Company markets its projects under two brands:
1. ‘Kolte-Patil’ (addressing the mid-income segment)
2. ‘24K’ (addressing the premium luxury segment).
Technical View:
Currently realty Sector outperforming nifty after beaten down 30-40% from the high level in last few months.
Kolte recovered almost 30% from the low level and given breakout of cup and handle pattern on daily chart with above average volume.
One can consider buying in the range of 272-275 for the upside level of 309 and 326 with the support level of 255-260.
3. Wonderla Holidays
Business Overview:
The company was setup by Kochouseph Chittilappilly in 2000, the same promoter group also founded V-guard brand of stabilisers and runs V-Guard Industries
Wonderla Holidays is engaged in the business of Amusement Parks and Resort. Wonderla currently has three operational parks, one each in Kochi, Bengaluru and Hyderabad established in 2000, 2005 and 2016 respectively.
Technical View:
The stock has given multi months breakout and closed above its major resistence level of 263. Good entry level at 260-265 for the upper level of 297 and 325 in near term and keep stop loss below 263 level.
4. BPCL
Business Overview:
Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products.
The company owns 79 retail depots and operates ~16,200 retail outlets across India. Presently, it has a market share of ~26% in the domestic petroleum market.
Technical View:
BPCL has formed inverted head and shoulders pattern with lower volume in daily time frame and closed above previous swing high which indicate upside till 347 and 360 with the support of 325.
Oil and marketing is poised risk for many global factors and government changes in duties so invest wisely.
Thanks for reading! Wish you profitable trading week.
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