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Intraday Stocks To Watch On Monday 26 September 2022: Stocks To Buy or Sell
Global bearish sentiments continue after interest rate hikes in the US, and most of the indices globally plunged sharply yesterday. The sentiments have affected the Indian markets as well. Sensex has plunged more than 1,000 points in the most recent trading session, and bearish sentiments are all over the Indian markets.
Almost all the sectors of Indian markets have closed negatively; however pharma sector has shown some strength. The sell-off in the Indian markets is expected to continue as most of the global indices fell sharply on 23 September 2022.
Here are some buy or sell stocks to watch for intraday trading on 26 September 2022.
Dabur India Ltd.
On the chart, the overall trend of the stock is an uptrend in a larger time frame; the stock has given good upside moves in the past few trading sessions; however, in the smaller time frame, it is looking bearish. Here are the positions of the technical indicators on the 15-minute time frame of the stock:
• The stock price is on an uptrend, but it is showing signs of a trend reversal as recently, the price has broken a consistent trendline with good volume.
• The stock price is just at a major demand zone, and the break of the zone can cause a sharp fall in the stock.
• Currently, RSI is at 37 levels and moving rapidly to the downside, which is a bearish sign.
Signs of trend reversal are visible in the stock price, so intraday traders should look for a selling opportunity on Dabur India Ltd.
Tata Steel Ltd.
This tata stock is in the news because of the merger. As per the chart, the stock is in a strong upside momentum after giving a strong breakout to a downtrend in the larger time frame. In the smaller time frame, the stock price consolidates in a zone for a while. Here are the positions of technical indicators on the 15-minute time frame:
• The stock price is currently at crucial support or a demand zone and is likely to go up. However, a sell-off pressure can come if the price goes below Rs. 103.
• Unusual volume is traded on the stock in the most recent trading session, leading to a good upside movement.
• Currently, RSI is at 45 levels and taking support at 40, which is a bullish sign of range shift.
The overall trend of the stock is bullish and backed by good news so that intraday traders can look for buying opportunities on Tata Steel.
Trent Ltd.
As per technical analysis, the chart of the stock looks bullish in the larger time frame, but in the smaller time frame, the stock is plunging from the past few trading session, so there is a bearish momentum on the stock. Here are the positions of technical Indicators in the 15-minute time frame of the chart:
• The stock price is making a double top pattern, which has given a neckline breakout to the downside, which shows a high probability of an upcoming down move.
• RSI is currently at 39 levels, and it cant break above 40 levels, which is a bearish sign.
The stock trend is currently bearish, and intraday traders should look for selling opportunities on Trent Ltd.
Disclaimer
The stock has been picked according to the technical analysis. Greynium Information Technologies and the Author do not encourage anyone to buy or sell any stocks and are not liable for any losses caused by decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.
