Best intraday stocks to watch out for on July 18

Best intraday stocks to watch out for on July 18

Indian Market
by 5paisa Research Team Last Updated: 2022-07-18T09:35:32+05:30

The Nifty lost 1.06% in last week. On the weekly chart, it formed an inside bar with a bearish undertone as close was below the opening level. It resembles to a bearish harami, which shows an indecisiveness with a weightage towards the bearish. For the majority part of the week, the nifty oscillated on the 50-Day Moving Average, and finally, it managed to close just above it. Still, the 50DMA is in a downtrend. The MACD line is also hovering around zero for the whole week. On a weekly basis, the trend has not changed. A notable development is that the RSI has moved down and formed a minor swing high.

The weekly chart suggests that the consolidation may extend for another week. The consolidation may go beyond the 16300-15800 zone. This five-hundred-point zone is crucial for the next week. Either side breakout with a strong move may result in an impulsive trend. For a medium-term outlook, the Nifty must cross the level 16794 (which is the previous month's high) to negate the bearishness in the market.


The stock has broken out of a bullish symmetrical triangle with a higher volume. After breaking out of a 100-day consolidation, the stock has met the breakout target in just 6 sessions. It consolidated for 60 days and broke out on Friday. The stock is trading above the key moving averages and MA ribbon. The MACD has given a fresh buy signal just on the zero line. The RSI is entered into a strong bullish zone and out of the squeeze. The +DMI is above the -DMI is a positive sign. The Elder impulse system has formed strong bullish bars and is trading above the Anchored VWAP. The KST and TSI indicators have given fresh buy signals. In short, the stock has registered a strong bullish breakout. A move above Rs 245 is positive, and it can test Rs 260. Maintain a stop loss at Rs 238.

BOSCH (Future level)

The stock closed above the four-day consolidation. It has formed a strong bullish candle. It has retraced above 50% of the prior downtrend. It is trading above the key short and medium-term moving averages. it is 8.72% above the 20DMA. It has the highest RRG Relative Strength and Momentum. The RSI is in a strong bullish zone. It has consolidated above the Anchored VWAP. The KST and TSI have been in a strong bullish setup. The Elder impulse system has formed a strong bar. On a 75-minute chart, the stock is above the moving average ribbon along with the MACD line above the zero line, which is a strong bullish set-up. In short, the stock is at a new pivot. A move above Rs.16455 is positive, and it can test Rs 17000 and above. Maintain a stop loss at Rs 16250.

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