Short-Term Shares To Buy - Trade Funda (2024)

Weekly (03/7/23 – 07/07/23) Analysis of Nifty, Bank Nifty, Dow Jones, S&P 500 and Selected Stocks

Welcome to my blog. I hope you guys are all well. The subject of our discussion today in the weekly analysis is ‘Short-Term Shares To Buy’. Before discussing stocks, we will discuss the Nifty, Bank Nifty, Dow Jones and S&P 500. This week will be one to remember as Nifty once again touched another new high. The dominance of these bulls was extreme for four days this week. The market was closed on Thursday. A strong bull run on Friday helped the market climb to new highs on renewed momentum. Bank Nifty contributed the most to this rise of Nifty. The Nifty has given us a lot more than what we expected last week. The support and resistance levels I gave last week for the Nifty worked, and I hope you benefited from them.

Analysis of Nifty-50

#Nifty Prediction

• This week saw a series of notable events in Nifty, and I’ll go into each topic one by one.
• Nifty’s Current Value as of 30-06-2023 is 19189
• The 10-day moving average is 18836
• The 20-day moving average is 18738
• The 50-day moving average is 18411
• The 200-day moving average is 17943
• The relative strength index value in the daily chart is 72
• Weekly open – 18637 high – 19200 low – 18647 close – 19189
• The relative strength index value in the weekly chart is 68
• India Vix ( Volatility Index) in the daily chart is 10.80
• The value of India Vix suggests that the market has been very stable until now.
• The short-term, Medium-term and Long-term trend of Nifty is Up.
• A long white candle is formed in a weekly chart, normally considered a very bullish signal.
• In the daily chart, Nifty also formed a white candle, considered a bullish signal
• So the daily and weekly candlestick patterns suggest that the market may move further from here.
• Nifty breaks the important resistance level of 18650.
• This level has now become an important support zone.
• This level might be retested again within a couple of days.
• If Nifty sustains this bullishness, then the next target is the 19400 level.

Analysis of Bank Nifty

#Bank Nifty Prediction

• The current market value as of 30-06-2023 is 44747
• The 10-day moving average is 43938
• The 20-day moving average is 43965
• The 50-day moving average is 43668
• The 200-day moving average is 41902
• The relative strength index value in the daily chart is 65
• Weekly Open- 43722 Weekly high – 44785, low – 43541, Close – 44747
• The relative strength index value in the weekly chart is 65
• Daily R.S.I. = Weekly R.S.I.
• The short-term, medium-term and Long-term trends of the Bank Nifty are up.
• The white candlestick is formed in the weekly chart. ( It is a bullish signal.)
• A white candle is formed in the daily chart, which suggests that Bank Nifty is bullish.
• Bank Nifty may face some resistance at the 45100 level.
• If this level is successfully penetrated, then 48000 is not an impossible task for Bank Nifty any more in the next couple of weeks.

Analysis of Dow Jones

#Dow Jones Prediction

• The current market value as of 01-07-2023 is 34405
• 10-day moving average is 34000
• 20-day moving average is 33947
• 50-day moving average is 33624
• 200-day moving average is 32914
• The relative strength index value in the daily chart is 62
• Weekly open – 33730, High – 34467, Low – 33610, Close – 34405
• The short-term trend is up.
• Medium-term and Long-term trends are range bound.
• A long white candle is formed in the weekly chart; it is considered a bullish signal.
• A white candle with a gap-up opening is seen in the daily chart. Indicates bullish intention in the market.
• Dow Jones stands at its resistance zone of 34497 to 34704.
• This is the multiple resistance zone as of November 22, 2022.
• If Dow Jones penetrates this level successfully, then the next target is 35500

Analysis of S&P 500

#S&P 500 Prediction

• The current market value as of 01-07-2023 is 4450
• The 10-day moving average is 4382
• The 20-day moving average is 4351
• The 50-day moving average is 4226
• 200-day moving average is 4002
• The relative strength index value in the daily chart is 69
• Weekly open – 4342, High – 4458, Low – 4328, Close – 4450
• The Short-term & Medium-term trends are up
• The long-term trend is range bound.
• A long white candle is formed in the weekly chart – it is considered a bullish signal.
• A white candle without a lower spike ( with a gap-up opening ) is formed in the daily chart. It indicates the market’s bullishness.
• The next target for the S&P 500 is 4500 and then 4800.

Our Stocks of the Next Week are –

• Escorts Kubota Ltd.
• Suzlon Energy Ltd.
• Tata Power Company Ltd.
• Macrotech Developers Ltd.
• JPMorgan Chase
• American Express
• McDonald’s

Technical Analysis of Escorts Kubota Ltd.

• The current Market Price as of 30-06-2023 is 2248
• 10-day moving average – 2187
• 20-day moving average – 2183
• 50-day moving average – 2102
• 200-day moving average – 2069
• The relative Strength Index value in the daily chart is 65.
• Weekly open 2168, High – 2258, Low – 2153, Close – 2248.
• The relative Strength Index value in the weekly chart is 63.
• the short-term, medium-term and long-term trends are bullish.
• A very nice bullish chart pattern is formed.
• Short term price target for this counter is 2350.
• Long to Medium term targets are 2600 to 2700.
• Stop loss should be kept below the 2200 level.
• For the fundamental information, follow this link.

Technical Analysis of Suzlon Energy Ltd.

• The current Market Price as of 30-06-2023 is 15.35
• 10-day moving average – 14.32
• 20-day moving average – 13.94
• 50-day moving average – 10.90
• 200-day moving average – 9.28
• The relative Strength Index value in the daily chart is 70.
• Weekly open 14.05, High – 15.60, Low – 13.65, Close – 15.30.
• The relative Strength Index value in the weekly chart is 75.
• The short-term, medium-term and long-term trends are bullish.
• A very nice higher-high pattern is formed.
• The short-term price target for this counter is 16.
• The long- to medium-term targets are 20 to 24
• Stop loss should be kept below the 13.30 level.
• For the fundamental information follow this link.

Technical Analysis of Tata Power Company Ltd.

• The current Market Price as of 30-06-2023 is 221.90
• 10-day moving average 221
• 20-day moving average of 220
• 50-day moving average of 211
• 200-day moving average of 212
• The relative Strength Index value in the daily chart is 59
• Weekly open 217.65, High – 222.50, Low – 216.50, Close – 221.90
• The relative Strength Index value in the weekly chart is 60.
• The short-term, medium-term and long-term trends are bullish.
• A very nice positive pattern is formed.
• The short-term price target for this counter is 245
• The long- to medium-term targets are 280.
• Stop loss should be kept below the 214 level.
• For the fundamental information follow this link.

Technical Analysis of Macrotech Developers Ltd.

• The current Market Price as of 30-06-2023 is 679.80
• 10-day moving average 649
• 20-day moving average of 627
• 50-day moving average of 541
• 200-day moving average of 505
• The relative Strength Index value in the daily chart is 73
• Weekly open 656, High – 685, Low – 640, Close – 681
• The relative Strength Index value in the weekly chart is 69
• The short-term, medium-term and long-term trends are bullish.
• A very nice chart pattern is formed.
• It stands at the resistance level of 683.25, take a position after the price penetration of the the 683 level for the target price of 772.
• Stop loss should be kept below the 649 level.
• For the fundamental information follow this link.

Technical Analysis of the JPMorgan Chase

• The current Market Price as of 01-07-2023 is 145
• 10-day moving average 139
• 20-day moving average 137
• 50-day moving average 130
• 200-day moving average 130
• The relative Strength Index value in the daily chart is 66
• Weekly open – 144, High – 146, Low – 143, Close – 145
• The relative Strength Index value in the daily chart is 59
• The short-term trend is up
• Medium-term and long-term trends are range bound.
• Buy this stock after the price penetrates the 145 level.
• Your target prices will be 155 and 170
• Stop loss should be kept below the 145 level.
• For the fundamental information follow this link.

Technical Analysis of the American Express

• The current Market Price as of 01-07-2023 is 174
• 10-day moving average 169
• 20-day moving average 170
• 50-day moving average 161
• 200-day moving average 157
• The relative Strength Index value in the daily chart is 66
• Weekly open – 168.40, High – 175.09, Low – 166.18, Close – 174.20
• The short-term trend is up.
• Medium-term and long-term trends are range bound.
• Price stands at the resistance level of 174
• Let the price penetrate the 174 level then enter this counter.
• Target price 184 and then 199
• Stop Loss below 174
• For the fundamental information follow this link.

Technical Analysis of McDonald’s

• The current Market Price as of 01-07-2023 is 298
• 10-day moving average of 293
• 20-day moving average of 290
• 50-day moving average 291
• 200-day moving average 272
• The relative Strength Index value in the daily chart is 65
• Weekly open – 298, High – 299, Low – 287, Close – 298
• the short-term, medium-term & long-term trend is range bound
• Buy at the current market price for the target price of 318
• Stop-loss should be kept below the 285 level.
• For the fundamental information follow this link.

Disclosure: This is only for educational purposes. I am not a SEBI-registered financial advisor. This is my personal view. You do your own research, take your financial advisor’s advice, and then invest. Because investment in the stock market is subject to risk. Market risk should always be reviewed before buying a stock. If my post benefits you, then please comment on it and share it with your friends. Your comments and sharing will inspire me to create valuable content for you in the future.