Buy Bharat Forge for Short Term Trading – 26 July, 2022
Looking for short term trading stocks? Find out the stock pick for today.
Short Term Trading Pick for the Day -
Short-term trading involves trading strategies in the stock markets in which the period between the buying and selling of the stock is within a range of a few days to a few weeks.
Short-term trading can give you high returns but it can also be risky. A short-term trade can last from as little as a few minutes to as long as several days. To succeed in this strategy a trader must understand the risks and rewards of each trade.
|
Recommendation |
BUY |
|
Buying Range |
703-700 |
|
Stoploss |
672 |
|
Target 1 |
736 |
|
Target 2 |
760 |
▪️Post the recent corrective phase, the stock has formed a support base around its weekly ‘200-day EMA.
▪️Prices have given a breakout from a falling trendline resistance on the weekly charts.
▪️The volumes in the recent price upmove are good indicating buying interest in the counter.
▪️The momentum oscillator is in buy mode and indicating a positive momentum.
▪️Hence, we advise traders to buy the stock in the range of Rs. 704-700 for targets of Rs. 736 and Rs 760 in next 2-3 weeks. The stop loss for positions should be placed below Rs.672.
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