Updated: Mar 18, 2021
We made a analysis for some stocks that can be bought or sold for intraday to trade on 18-Mar-2021. Do check it below along with possible levels.
TVS Motor: (LTP - 582)
Stock gave breakout in a 5-minutes time frame, however the stock is still bearish as of now.
Stock can be bought if it opens above 582.5 for a quick up-move of 584, 586-587 (region). If stock sustain above 587 in a 15 minutes candle then next target can be 594. SL can be 573
Short position can be taken if stock starts falling as soon as market opens and sustain below 573 under 15-minutes candle, then further downside move can be seen till 555. SL can be 586.
Maruti: (LTP - 7075)
The stock looks neutral in a 5 minutes of time-frame however it's overall trend is bearish.
Short position can be taken if stock opens gap-down and breaks-down and sustain below 7040 level in the 15-minutes time-frame, then further down-side can be seen till 7008 levels.
This price 7008 can acts as a Support but in case stock breaks down this level and sustain below it under 15-minutes time-frame then further down movement can be seen till 6990/6975/6850.
Few more notes about Maruti regarding the swing trade. (Refer to the screenshot)
There is zone has formed in the price range 7273-7384. This price zone will acts as a strong Resistance because this Resistance zone is actually a Support zone for the Head and Shoulder Pattern that was formed. In a coming couple of days if price moves in up direction, breaks out the resistance zone and sustain above 7084 in the 15-min/1-hour candle; then further upmove can be seen till 7765/8240.
However on the other hand, if price moving up, touches 7273-7384 zone and revert back downside again, then further downward movement can be seen till zone 6825-6740 and further till 6271. There is a high probability that 6271 level will act as a strong Support and price may move upward again.
The Strategic Fortune team.
Disclaimer: Not for buy/sell recommendation. The information is shared based on technical analysis for study purposes. Market can be unpredictable and no one can be sure about its next move, however it's all about probability & based on historical data, we can try to predict the next moves. Concern your financial advisor before making a decision.