​Market Trading Guide: Power Grid among 7 stock recommendations for Monday

On an hourly chart, the price has formed a Cup & Handle pattern, indicating the current bullish trend may continue. The stock is classically moving in the Bollinger band. Prices have respected Bollinger's upper and lower band every time it has touched. In addition, the indicator RSI (14) is trading above 60 levels & Stochastic RSI has also suggested a positive crossover, confirming the long position.

(Mahesh Prakot, Research Analyst, Bonanza Portfolio)

On the Four hourly charts, the stock has given a breakout of the “Falling Supply trend line” with a Bullish candlestick. The overall structure of the counter is very Bullish, as it is trading above the 20/50/100 moving averages. In addition, the Technical indicator Ichimoku Cloud suggests that the price is trading above the cloud, which shows a positive trend in the counter. A momentum indicator RSI (14) reading is above 60 levels, which adds more strength on the upside.

(Mahesh Prakot, Research Analyst, Bonanza Portfolio)

Price action in Grauer & Weil shows a steadily rising trend. Price has hit a new 52-week high. A breakout to new highs is a pattern breakout. The price pattern seen on the charts is a cup-and-a-handle (CNH) pattern. MACD is in a buy mode both on the weekly and daily time frame.
(Manish Shah, Independent Market Analyst)

Bank Nifty saw a sharp rally in the last two weeks, indicating that the larger degree trend has turned up. The entire price decline in the stock since the high of Rs 35 seems to be creating a downward-sloping wedge pattern. Down-sloping wedge pattern can be a leading indicator of a fast move in the direction of the breakout. Price has already seen a breakout above the pattern, suggesting that the corrective decline is complete.
(Manish Shah, Independent Market Analyst)

After the decent slide, the stock consolidated and bottomed out near the Rs 1825 zone (50% retracement of the rise from Rs 1300 levels). The RSI has slowly and gradually picked up from the oversold zone and is well placed, indicating strength with a trend reversal to signal a buy.
(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

The stock has taken support near the long-term trendline zone of Rs 4180 levels and indicated a decent pullback with improvement in the bias moving past the confluence of 50 EMA and 200 DMA, anticipating further upward move in the coming days. The RSI has indicated a trend reversal to signal a buy.
(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

After the decent gradual slide, the stock has consolidated well for quite some time, making a decent support zone near Rs 150 zone and has indicated a pullback with a positive bullish candle to improve the bias. The RSI is very well placed, indicating a trend reversal from the oversold zone, and has signaled a buy with decent upside potential visible.
(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)