It is true that our markets have suffered a lot of volatility in last few months. But in this volatility also, there is a simple way to maximise your profit. Instead of Investing majority of your money for long-term in short-term, you can try to take a regular trade for short-term by analysing the technical charts. Using Volatility with best short-term trades is the best way to maximise your earnings. You can take a look at given below stock ideas based on the technical charts.
After recently announced Q1 results by the company, we have seen Ashok Leyland stock declining as much as 15 percent in a single trading day. Technically, level of 120 was a good support for the stock which has now been broken. However, if go back to 1–2 weeks ago, we would find that stock has fell more than 30 percent in July.
After declining so much, level of Rs 100 is a next support level for the stock. At current levels, I think it is possible to see some buying in Ashok Leyland in next few days which can lift it towards Rs 120, which now will work as a strong resistance for the stock. Therefore, from current levels, traders can try to buy Ashok Leyland for the target of Rs 120 achievable in next few days.
CMP-107, TARGET-120, SL-100/98
In last few weeks, Yes Bank has remain a favourable choice for many traders and investors. By rising more than 20 percent in last few days, this banking stock has generated good returns for investors. When it was around Rs 330-340, it was very difficult to predict when it is going into a uptrend channel because of overall volatility in banking stocks. But now, when it has reached levels of Rs 390, which is very close to Rs 400, it can be easily concluded that stock is in a uptrend.
As of now, we are still waiting Yes Bank to break important level of 400 which could be little difficult for stock. However, by looking at the strength of its momentum and pattern, I think stock would shortly break this level also. And once, it will break it, stock then may go for the next target of Rs 420 and then 450. However, it is also possible to see stock again coming back to levels of Rs 350-360 in next few days. Therefore, at current levels, traders can try to buy this stock for the target of Rs 420/450 with a stop loss at Rs 372.
CM-385, TARGET-420/450, SL-372
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