Top Two Breakout Stock For 16 SEP 2024

FINSTOCK

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Transcript

00:00Hello friends, welcome back to our channel Free Stock. Today we are with yet another

00:13episode of our breakout stocks. So if you see, there is a chart in front of you, which

00:19is Mahindra and Mahindra's, Mahindra and Mahindra's financial services weekly chart. So now we

00:27will do its analysis. If you see, then this stock here, almost in April 2018, it had made

00:37a level, which was around 325 and after touching this level, it came down a lot, which was

00:46when the COVID crash happened, it came down to Rs. 78. Here we mark a line and now again

00:55after these 3-4 years, in 2023, it tried to break this level once in June, but it failed

01:04from there and again came down to a level of Rs. 236. So after coming down to that level,

01:12it again consolidated here and now just last week, it has broken this level of 325 and

01:21closed it. So friends, now if we have to find the target in it, then if we see it, then

01:32we can call it a cup and handle pattern and if we find the target of it, then the depth

01:39of this cup, we have to project it on it. After projecting it, if we see, then our target

01:48will come out, it will come almost of this level, which is around 570. So this is the

01:56target of 570, it will be the final target in this top, around 570, but in the middle

02:06of this, it will go up and down while taking resistance in the middle. So if we see, then

02:12we will get the return here, which will be around 75% and for that we have to keep our

02:18stop loss, which is this swing low, which is around 15%, here we have to keep our stop

02:25loss. So if we see our risk to reward in this, then 15% stop loss will come and 75% return

02:34in this, then we can get a risk to reward of 1 as to 5. So let's put it here and see.

02:43So let's see, this is our target and this is our stop loss, so almost 1 as to 4.5 our

02:51risk to reward comes out. So this is our first breakout stock, which is Mahindra and Mahindra

03:00Financial Services and if we go to this, then its RSI has also come above 60, which is a

03:08good thing and the volume has also started to come above the average, if we increase

03:13the volume, then we will find that the volume has also started to build up quite well, which

03:19is above its average. So we can keep this stock in the watch list and we can make our

03:25position. So friends, you watch our videos, but like them, share them with your friends.

03:33With that, if you have not subscribed to the channel, then subscribe and press the bell

03:38notification so that you will get updates of new videos immediately and you will be updated.

03:43With this, if we see our second breakout stock, then it is Titan, Titan Company Limited.

03:53So now the weekly chart of Titan has opened in front of you. If you see, then this stock

04:01has been in a very good uptrend. Here, after the uptrend came once, it made a pattern of

04:06pull and flag pattern and after its breakout came, it gave the same run-up once again.

04:11And if you see, then now we can call it this pull and flag, it will be pulled here and here

04:17we can call the flag that came down. So now if we take out the breakout of the pull and

04:25flag pattern in it, then let's see how we can expect the target.

04:33So see, this is the pull and this is its flag type pattern.

04:38And now if we take out its target, then this depth is the length of the pull.

04:48We have to project it up in the pull and flag pattern.

04:52So if we put this breakout here, then our target comes out of this level, which is around 4988,

05:06which will give a 43% return. So now this stock is Titan Company, as you know, it is a company

05:14of Tata Group, it is a very well-known company, it has a very big name in the jewelry sector.

05:20So here if this stock now comes above 3799, that is 3800, then we can initiate our buying in it.

05:34And in this, our first target will come, which will be the short-term target, it will be 13-14%, which is around 4336.

05:48And our second target will come here, it will be around 30%, which is 4988.

05:58So for these two targets, we can make an entry in it.

06:02And our stop-loss will come from here, we expect 10% down from here.

06:07So it comes out almost around this level, which is 3400.

06:14So with a stop-loss of 3400, we have to make an entry in it.

06:19And our target is around 4326 and 4988.

06:27So with this, if you go over, then its RSI has also come above 60, which is a good thing.

06:33RSI is above 60, which means the stock is in momentum.

06:36So it can go up very well and very quickly.

06:40So friends, whatever stocks we have discussed here, it is just for your study purpose.

06:46Do not consider it as a recommendation.

06:48You study first or take advice from your financial advisor before investing in any stock.

06:56So friends, that's all for now. Thank you.

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