Best intraday stocks to watch out for on July 19
The Nifty ended sharply higher on Monday and closed above its prior swing high. It also broke the downward channel.
The index closing above the 50DMA decisively is another positive signal. It opened with a 100-point positive gap and sustained the initial gains till the end. There were no major dips during the day, but the Nifty moved slow and steady upwards. By closing above the prior high, the index has turned bullish. The RSI reached above 59; now it needs to sustain above the 60 zone for a stronger bullish tone. After oscillating around the zero line, during the last week, the MACD has finally closed above it. But the RRG Relative Strength needs to be strengthened. There is an uptick in momentum. The immediate resistance is placed at 16325, which is an Anchored VWAP line. The KST and TSI indicators are above the zero line and are in the bullish setup. A strong Heiken Ashi candle has formed on Monday, which is a major relief for the bulls. Barring FMCG and Pharma, most sector indices gained over a 1%, showing broader market participation. For now, the market turned positive, and avoid short positions if it trades above 16140.
It has closed at the crucial resistance line of a base. It formed an inverted head and shoulders pattern at the bottom, which is a bullish sign. It also closed decisively above the 20DMA, and the contracted Bollinger bands suggest an impulsive move on the cards. It is also closed in the moving average ribbon. The RSI is above the 50 zone, the MACD line is above the signal line, and the histogram shows increased bullish momentum. It closed above the Anchored VWAP, and the Elder impulse system has formed a bullish bar. The KST and TSI indicators are in the bullish setup. In short, the stock is getting ready to breakout. A move above Rs 3185 is positive, and it can test Rs 3292. Maintain a stop loss at Rs 3121.
The stock has broken the 37-day consolidation. It has recorded a massive volume for the last two days indicating the buying interest. It decisively closed above the 20DMA, and the contracted Bollinger bands suggest an impulsive move on the cards. It just closed above the 50 DMA. It is also closed above the moving average ribbon. The RSI also came out of the squeeze. The MACD is above the signal line and near the zero line. The +DMI crossed the -DMI is also a positive sign. The Elder impulse system has formed a bullish bar and the TSI and KST indicator has given fresh bullish signals. In short, the stock has registered a bullish breakout. A move above Rs 4215 is positive, and it can test Rs 4455. Maintain a stop loss at Rs 4134.
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