Stock Trading ideas: These two Nifty50 stocks can give you a good return next week

 

Our last week’s stock trading ideas of two Nifty50 stocks Ultratech Cement and JSW Steel have achieved their weekly targets. You can check out last week’s report here. This week again we have analyzed two Nifty50 stocks. The stock trading strategy can give you a good opportunity to make money in a very short period. Technically these two stocks are in a strong uptrend.

 

Two Stock Trading Ideas for next week

 

Adani Ports share price Rs 364.35 in NSE as of 23 October 2020

 

Adani Ports and Special Economic Zone (APSEZ) is closed at Rs 364.35 in NSE on 23 October. The share price of Adani Ports touched Rs 405 as a 52-weeks high and Rs 203 as a 52-week low. The stock gained 4.11% on a weekly and 16.1% on a monthly basis.

The company has announced the completion of the acquisition of Krishnapatam Port Company (KPCL) for the value of Rs 12000 crore on 6 October. Many domestic as well as foreign broking houses raised the target price of this stock after the news. 

 

 

According to MACD analysis, the MACD is at 3.04, and the Signal Line is at 2.06. A bullish crossover just happened in the Adani Port and it’s a positive signal for the share price of Adani Port. According to exponential moving average analysis, Adani Port is in a strong uptrend. It has a major support level at 351-346-340.

As per the Fibonacci retracement, Adani ports share price is trading above all key levels. It has got major support at 353-345 and resistance levels at 375-391.

Stock Trading Ideas: Investors can Buy Adani Port share price at the current rate and for the first target of 375-391-404 with a stop loss of 351. Above 375 one can put a trailing stop loss and hold for a higher target.

 

HDFC Bank Share price Rs 1235.80 in NSE as of 23 October

 

HDFC Bank share price has closed at Rs 1235.80 in NSE on 23 October. It has touched Rs 1305.5 a 52-week high and Rs 738.75 as a 52-week low. The share price of HDFC Bank gained 3.04% on a weekly and 19.9% on a monthly basis.

HDFC Bank is in the news due to its Managing Director Aditya Puri’s exit from the Bank after serving 26 years. The Bank has seen consistent years of growth and a good track record under his leadership. 

 

 

According to MACD analysis, the MACD line is at 38.5 and the Signal Line is at 33.1. It indicates the share price of HDFC Bank is technically strong. According to the exponential moving average analysis, HDFC Bank is in a strong uptrend. It has a major support level at 1179-1130-1091

The Fibonacci retracement Analysis says the share price of HDFC Bank is trading above all key levels. It has major support at 1164-1138 and resistance levels at 1251.

Stock Trading Ideas: Investors can buy the stock at the current market price for the first target of 1251-1302-1340 with a stop loss of 1164. Investors can also carry forward the long position with a trading stop loss. 

 

You may also like to read, Indian Stock Market News: Weekly Updates

Nifty50 Stocks list | Index | Share price

 

Happy Investing!!

Editor’s Desk

 

Disclaimer-

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