Best intraday stocks to watch out for on July 20

Best intraday stocks to watch out for on July 20

by 5paisa Research Team Last Updated: Dec 15, 2022 - 10:15 am 21.8k Views
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The Nifty extended it's winning streak for the third straight session on Tuesday with this it closed above the previous day's high. After opening with a negative gap, the index formed an open=low candle as it recovered the losses in the first hour itself. There was a brief pause in the afternoon session, but, with a strong move, the index closed near the day's high. The 78.6 per cent retracement level is just another 100 points away. Interestingly, the 78.6 per cent retracement level and the 100EMA are at the same level of 16449. The Nifty may face strong resistance at this level. Let us wait and see the price behaviour near this zone. The RSI has reached above 60, and entered the strong bullish zone. The MACD histogram inched up further and signalled the bullish momentum. A majority of the sectors recovered from the low is a positive sign. The next 100 points rally, and the behaviour at this zone is important for the Nifty.


The stock has broken out of a triangle pattern at the bottom. It is consolidating within the range for the last 38 days. It is above the 20 and 50DMA. The MACD line is just around the zero line, and the histogram shows an increased bullish momentum. The RSI is above the prior swing high and above the 50 zone. The +DMI moved above the -DMI. The Elder impulse system has formed strong bullish bars. The TSI and KST indicators are given strong bullish signals. The stock is also trading above the Anchored VWAP. In short, the stock is poised for a bullish breakout. A move above Rs.3040 is positive, and it can test Rs.3181. Maintain a stop loss at Rs.3000.


The stock has closed at a crucial resistance. It has witnessed consolidation for the past 20 days. The stock closed above the 50DMA decisively, which acted as a support earlier. It also has closed above the 20DMA and the contracted Bollinger bands indicate an impulsive move on the cards. The higher volume indicates fresh buying interest. The MACD has given a fresh buy signal. RSI is near the strong bullish zone, and out of the squeeze. It closed above the Anchored VWAP. The TSI is also gives a fresh buy signal. The Elder impulse system has formed a strong bullish candle. In short, the stock is about to register a breakout. A move above Rs.1828 is positive, and it can test the prior high of Rs.1972. Maintain a stop loss at Rs.1790.

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