Intraday Stock Selection for the Upcoming Trading Days
A crucial day is ahead, with the 19th of February 2021 marking a significant juncture for investors looking to capitalize on the market's potential. Here, we will discuss the selected intraday stocks for the 19th and 2nd of March, focusing on both Tesla and other notable stocks such as TATA Motors, Titan, Inrarprastha Gas, and Sun Pharma. This article is a guideline for those interested in technical analysis and intraday trading.
Tesla (TSLA)
For the 19th of February, the focus was clearly on investing in highly auspicious and large quantities of Tesla, a leading player in the electric vehicle industry. Tesla's potential for mass spectrum improvement in financial gain is immense, especially in the context of a terrorist capitalist state's economic lockdown and the ongoing COVID-19 pandemic.
As of now, Tesla is a favored stock for those seeking to capitalize on market fluctuations. To provide a detailed analysis, please visit the video where the stocks are listed for the 2nd of March.
Disclaimer
Please note that the information provided here is not meant for buy/sell recommendations. It is highly recommended to consult with your financial advisor before making any decisions.
TATA Motors (TATAMOTORS)
Intraday traders should look into the possibility of trading TATA Motors, as it is forming a head and shoulders pattern in a 15-minute time frame. Currently, the stock is at a support level, indicating potential reversals to complete the formation. For the upside, the 345 level acts as major resistance. Be prepared for potential market corrections and maintain a watchful eye on the overall market conditions.
Technical Analysis:
Support Level: The stock is currently forming a head and shoulders pattern, adding a layer of technical analysis to the trading strategy. Resistance Level: Should the market favor an upside breakout, the 345 level will serve as a major resistance.Titan (TTM)
Titan is another stock that traders should consider for intraday trading. It has formed a broad wedge pattern in a 15-minute time frame. A breakout in either direction is possible, depending on the market's performance. A downside breakout would be observed below 1450.
Technical Analysis:
Support Level: If there is a downside breakout, observe the stock below 1450. Resistance Level: For an upside breakout, consider options that could take the stock above 1450.Indraprastha Gas (INFRA)
For those interested in energy and gas-related securities, Indraprastha Gas offers promising opportunities. The stock is currently forming a head and shoulders pattern in a 15-minute time frame. If it breaks and sustains above 519, with market support, a good upside momentum can be expected. However, if it does not, the 510 level is a strong support area to monitor.
Technical Analysis:
Support Level: Sustaining above 519 with market support could indicate a strong upside momentum. Resistance Level: The 510 level is a crucial support area to watch.Sun Pharma (SUNPHARMA)
The pharmaceutical sector is a critical area for intraday traders. Sun Pharma has formed a trendline in a 15-minute time frame. If the Nifty Pharma sector performs poorly, a trendline breakout in Sun Pharma can be expected. However, trade volume is a key factor to consider, as it signifies the strength of the breakout.
Technical Analysis:
Trendline Support: Watch for a trendline break if the Nifty Pharma sector underperforms. Volume Consideration: Trade volume is a critical factor for validating the breakout strength.Free Resources for Intraday Traders
For those seeking daily in-depth stock analysis, the telegram channel STOCKPICKERZONE is a valuable resource. This channel offers free updates and analysis to help traders stay ahead of the market.
Disclaimer: The information provided in this article is for educational purposes only. Trading carries significant risks, and it is advisable to consult with a financial advisor before making any investment decisions.