FINSITED is back with 2 breakout stock for trading next week. As promised we will do detail analysis of both stock, their entry point, target, stoploss, future forecast everything and Outcome of last week recommended stocks will be shared with you via WhatsApp & Telegram channel. So, don’t forget to join. We firmly believe in delivering quality content. Our both chosen stocks are Government companies associated with Fertilizer sector. Both are near there strong supply zone and breakout is highly possible. Let’s start our analysis.
Table of Contents
NATIONAL FERTILIZERS LIMITED
NFL is an Indian central public sector undertaking and the largest government owned Urea fertilizer producer in India. It is a Miniratna company with the G.O.I owning a majority stake. It was incorporated in 1974 and comes under the administrative control of the Ministry of Chemicals and Fertilizers. It has market cap of ₹3564 crore and PE of 16.85. NFL is one of the best candidate for long-term investing too with targets of ₹120,₹144,₹175. Daily volume in the stock is awesome. It has given more than 51% return in last 1 year. Let’s look at its levels, targets, stoploss.
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ENTRY POINT
Last closed price of the stock is ₹72.65. One should take entry only when it crosses ₹(73-73.50) levels because this is strong supply zone. When N.F.L’s 30 minute candle closes above this range, you must take entry.
TARGET & STOPLOSS
- Targets will be ₹75.85 and ₹80.05.
- Stoploss will be ₹69.35, if it starts sustaining below this level, it would be ideal to exit the trade.
| NFL | LEVELS |
| ENTRY POINT | Above ₹73.10 |
| STOPLOSS | ₹69.35 |
| TARGET | ₹75.85, ₹80.05 |
Also read~ https://finsited.com/nifty-and-banknifty-prediction-for-16-october-2023/
RASHTRIYA CHEMICALS & FERTLIZERS
RCF is an Indian central public sector undertaking which produces chemicals & fertilizers and is based in Mumbai. It is under the ownership of Government of INDIA and administrative control of Ministry of Chemicals & Fertilizers. RCF is fourth largest government owned-fertilizer-producer in India.
ENTRY POINT
RCF closed at ₹130.30 on last trading day. One should take entry in it if hourly candle starts sustaining above ₹(131-132) levels, because it is strong resistance and the stock has reversed multiple times from here.
TARGET & STOPLOSS
- Targets will be ₹134.70 and ₹139.90.
- Stoploss will be ₹124.25, one should immediately exit the trade if the stock starts trading below this level.
| RCF | LEVELS |
| ENTRY POINT | Above ₹131 |
| STOPLOSS | ₹124.25 |
| TARGET | ₹134.70, ₹139.90 |
Have a look~ https://finsited.com/indias-g20-presidency/
PRO TIP
If you have ₹1000 to invest in market, then divide that money in two equal parts and invest same amount in both stock guided here, this potential strategy will diversify your investment and will provide good R.O.I as we all know that market is uncertain, we can only do analysis and prediction, but market is supreme. That’s why we should always have PLAN B.
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Note
- Remember all the levels provided above are valid even market open gap up or gap down. Just follow the levels because if you want to be a profitable trader then, follow the path of level to level trading only.
- Please execute trades only after 10a.m. when markets are less volatile and calm because in first hour of opening, big players adjust there position which can lead to unexpected loss in your demat.
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HAPPY INVESTING!
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