Buy Bharat Forge for Short Term Trading – 26 July, 2022

Ruchit Jain Ruchit Jain 7th September 2023 - 05:09 pm

Looking for short term trading stocks? Find out the stock pick for today.

Short Term Trading Pick for the Day -

Short-term trading involves trading strategies in the stock markets in which the period between the buying and selling of the stock is within a range of a few days to a few weeks.

Short-term trading can give you high returns but it can also be risky. A short-term trade can last from as little as a few minutes to as long as several days. To succeed in this strategy a trader must understand the risks and rewards of each trade.

Recommendation	BUY
Buying Range	703-700
Stoploss	672
Target 1	736
Target 2	760

▪️Post the recent corrective phase, the stock has formed a support base around its weekly ‘200-day EMA.

▪️Prices have given a breakout from a falling trendline resistance on the weekly charts.

▪️The volumes in the recent price upmove are good indicating buying interest in the counter.

▪️The momentum oscillator is in buy mode and indicating a positive momentum.

▪️Hence, we advise traders to buy the stock in the range of Rs. 704-700 for targets of Rs. 736 and Rs 760 in next 2-3 weeks. The stop loss for positions should be placed below Rs.672.