Top Stock Picks for July 20 under ₹150: Buy Levels, Targets & Investment Strategy
As we step into a new trading week, it’s crucial for traders, especially beginners, to identify potential opportunities backed by solid technical analysis. Below is a curated list of 10 Indian stocks currently trading under ₹150 each evaluated using key technical indicators:
1. Indian Renewable Energy Development Agency Ltd. (IREDA)
- Current Price: ₹165.07
- RSI: 43.83
- MACD: -1.2 (Signal Line: -2.2)
- Support: ₹167.8
- Resistance: ₹191.0
Analysis: IREDA shows a moderate RSI, indicating neither overbought nor oversold conditions. The MACD is negative but approaching the signal line, suggesting potential bullish momentum. Monitoring price action around the resistance level could provide entry opportunities.
2. Mahalaxmi Fabric Mills Ltd.
- Current Price: ₹29
- RSI: 45.29
- MACD: -5.3 (Signal Line: -7.6)
- Support: ₹.3
- Resistance: ₹56.3
Analysis: With an RSI below 30, the stock is in oversold territory, potentially indicating a buying opportunity. However, the negative MACD suggests caution. Await confirmation of a trend reversal before considering entry.
3. Prithvi Exchange
- Current Price: ₹149.25
- RSI: 31.65
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: A low RSI indicates the stock is oversold, which might present a buying opportunity. However, due to the lack of MACD and support/resistance data, further analysis is recommended before making a decision.
4. Pulz Electronics
- Current Price: ₹46.90
- RSI: 36.52
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: The RSI suggests the stock is oversold. Without MACD and support/resistance data, it’s advisable to monitor the stock for signs of a reversal before entering. Screener
5. Fonebox
- Current Price: ₹81.45
- RSI: 33.48
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: An RSI close to 40 indicates the stock is approaching neutral territory. Without additional technical data, traders should watch for further signals before making a move.
6. Axita Cotton
- Current Price: ₹2.10
- RSI: 45.32
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: The RSI suggests the stock is nearing oversold conditions. Given the low price point, it may be attractive for penny stock investors, but caution is advised due to potential volatility.
7. Shekhawati Industries
- Current Price: ₹22.46
- RSI: 43.21
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: An extremely low RSI indicates the stock is heavily oversold. This could signal a potential rebound, but traders should wait for confirmation through other indicators. Screener
8. Paragon Fine
- Current Price: ₹65.90
- RSI: 16.59
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: The RSI places the stock in oversold territory. Monitoring for a MACD crossover or price action near support levels could provide entry signals.
9. Ovobel Foods
- Current Price: ₹116.70
- RSI: 69.83
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: Approaching neutral RSI levels, the stock may be stabilizing. Traders should look for additional confirmation before considering positions.
10. Nettlinx
- Current Price: ₹26.89
- RSI: 39.82
- MACD: Data not specified
- Support/Resistance: Data not specified
Analysis: With an RSI below 30, the stock is oversold. Awaiting a bullish MACD crossover or a break above resistance could signal a buying opportunity. Screener
📊 Key Takeaways for New Traders
- RSI (Relative Strength Index): A momentum oscillator that measures the speed and change of price movements. RSI values below 30 typically indicate oversold conditions, while values above 70 suggest overbought conditions. Wikipedia
- MACD (Moving Average Convergence Divergence): A trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. A bullish crossover occurs when the MACD line crosses above the signal line.
- Support and Resistance Levels: Price points where a stock tends to stop and reverse. Support is the price level where a downtrend can be expected to pause due to a concentration of demand, while resistance is where a rising price tends to find resistance as selling increases.
Note: Always combine multiple indicators to confirm signals before making trading decisions.
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