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HomeTrading FocusedTop Stocks to Trade |BUY & SELL| 08 Feb

Top Stocks to Trade |BUY & SELL| 08 Feb

Short Trade: Ingersoll Rand Inc. (IR)– 85.04

Top Stocks Bearish

Trade Details:

  1. Resisting the upper trendline. It seems to be in bearish mode and fall sharply from current levels.
  2. It is now stretched too much and it may fall down to retest its moving average lines.
  3. On the daily charts stock is oversold and it will correct sharply from these levels.
  4. If your Risk appetite allows you then you can increase your SL to 87 and hold this trade for bigger targets towards 80 levels.
  5. You can also wait for confirmation of the breakdown to enter into trade, that may be a double to or inverted hammer pattern.
  6. RSI is trading in the overbought zone and it will reverse towards lower levels.
  7. Risk Reward 1:3+

    Trade, SL, and Target –

Entry = Below 84.50

Stop Loss = Above 85

Target = 82.75

Please note: This stock may open gap up and become high volatile so must enter only after it crosses down below 84.50

Long Trade: NetApp, Inc. (NTAP) – 87.23

Trade Details:

  1. Stock is trading at the strong support of the lower trendline, it will bounce very quickly.
  2. There is a Ascending triangle pattern which increases the chances of breakout at this time.
  3. Stock is making a narrow range which indicates the upcoming breakout.
  4. It may fall also but along with the positive market sentiment we can plan for the bullish trend.
  5. As soon as it crosses its moving average then you can make an entry in this stock.
  6. You can hold this trade for the bigger target after it closes in our favor or above 88.50
  7. RSI is trading flat near 34 and it will move towards higher levels.
  8. Trail your stop loss to the entry price after getting a 1:1 risk reward.
  9. Risk Reward = 1:2+

Trade SL and Target –

Entry = 87.52

Stop Loss = 86.74

Target = 89.32

Please note: It may make a trap for sellers. So, plan to go long only with the bullish market trend. High conviction on Upside momentum.

Buy Trade: F5, Inc. (FFIV) – 183.29

  1. This was positive last day at its support levels. It may increase the chances of breakout.
  2. There is a triangle pattern in this stock which may gives a breakout today.
  3. If the market sentiment will be positive then we can hold this trade for the next 2-3 days.
  4. There is also a support at the current levels so price may bounce again to the higher levels.
  5. RSI is trading flat and consolidating. It will give a good breakout above 50 and try to hit 80 levels.
  6. Strictly follow the SL & Target and trail your stop loss around cost after getting a 1:1 risk-reward.
  7. Risk Reward = 1:3

Trade SL and Target –

Entry = 183.74

Stop Loss = 183.29

Target = 188.75

Please note: High probability breakout. Make sure you enter only above its moving average with stoploss.

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