The all new June series of future and option contracts began on May 28 with nifty touching fresh records as high as 15, 469.65 crossing its past record of 15,431 on February 16. So here are the top 10 trading ideas for June 2021.
For May 28, the week ended with Nifty50 gaining 1.7% that was scheduled to close at 15,435. The border markets also ended with gains of 0.8-1.5%.
Top 10 Trading Ideas For June 2021
After seeing such an increase in the nifty here is a list of top trading ideas for June 2021. So that you get stock ideas and trade better following the top 10 trading ideas.
Canara Bank: Buy | LTP: Rs 161 | Stop Loss: Rs 148 | Target: Rs 184 | Upside: 14%
On the basis of a weekly scale, Canara Bank has escaped from the Ichimoku cloud which implies strength. Hence, traders are guided to buy the stock near Rs 160 having a stop loss of Rs 148 for the upward potential target of Rs 184 in the coming 2-4 weeks.
Ceat: Buy | LTP: Rs 1,318 | Stop Loss: Rs 1,270 | Target: Rs 1,410 | Upside: 7%
CEAT has decreased to sub – Rs 1,300 levels from Rs 1,760 since February 2021. At this point, it is integrating above the placement of 200-Days EMA. This implies a stop in the fall.
This gives a great risk-reward ratio for those who wish to trade. Thus, traders are guided to buy the stock in the range of Rs 1,320-1,310 having a stop loss of Rs 1,270 for the upward potential target of Rs 1,410 in the coming 2-4 weeks.
M&M Financial Services: Buy | LTP: Rs 160 | Stop Loss: Rs 150 | Target: Rs 180 | Upside: 12%
At this point, this stock is integrating above the placement of 200 Days SMA. It is shifting from the Ichimoku cloud support on a weekly scale. This also gives the traders an excellent risk reward ratio. It is advised to the traders to buy the stocks at Rs 160 having a stop loss at Rs 150 for the upward potential target of Rs 180 in the coming 2-4 weeks.
Coal India: Buy | LTP: Rs 146 | Target: Rs 162 | Stop Loss: Rs 137 | Upside 11%
This stock saw a formation of ‘One White Soldier’ candlestick, on a daily scale. It also saw a close above 5 Days EMA junctures towards a chance of breakout as soon as the stocks start to trend above the 200 Days EMA that has been placed above Rs 139.
Indigo: Buy | LTP: Rs 1,776 | Buy on dips up to Rs 1,745 | Stop Loss: Rs 1,670 | Target: Rs 1,880 | Upside 6%
This stock has been hardy even after the lockdown and the Covid-19 outbreak. It has maintained a range of Rs 1600 – Rs 1750.
On the nearest price scale, the current breakdown from its 5 months integration with a positive crossover on the weekly RSI that is above 50 implies the increase is likely to prevail.
ITC: Buy | LTP: Rs 212 | Buy on dips up to Rs 211 | Stop Loss: Rs 205 | Target: Rs 225 | Upside 6%
This stock can be among the top trading ideas in 2021. This is because the recent turn from the lower end of its weekly scale allowed the registration of the stock as a ‘Piercing Line’ formation on its monthly range. The registered pattern also shows a close above 5 and 20 month EMA for the second time in the last 6 months.
Orissa Minerals Development Company (OMDC) | LTP: Rs 2,773.85 | Target price: Rs 3,050 | Stop loss: Rs 2,550 | Upside: 10%
This stock has no activity in the last 8 – 9 months as it has been working within a small scale all this while. Last Thursday, its prices finally copped to burst through their long obstruction phase. If we take a look at the activity of the volume, we can see more than average daily volumes.
Piramal Enterprises | LTP: Rs 1,782.90 | Target price: Rs 1,950 | Stop loss: Rs 1,680 | Upside: 9%
After witnessing a grand recovery post – March 2020 fiasco, this particular stock finally took a halt around the 200-SMA on the weekly scale. The stock experienced some price-wise as well as time-wise correction in the last quarter months. However, taking a look at the past few weeks’ price action, it appears that the stock has established its position around the last breakout point of Rs 1,600.
Thyrocare: Buy | LTP: Rs 1037 | Target: Rs 1200 | Stop Loss: Rs 970 | Upside 15%
The stock has reversed upwards after ensuring a double bottom at levels of 990 and is now on the edge of a breakout from an integration pattern. Further, RSI has shifted upwards after taking help at the 60-level which happens to be the upper end of the bear zone affirming the expectation.
Lupin: Buy | LTP: Rs 1209 | Target: Rs 1300 | Stop Loss: Rs 1160 | Upside 7%
The stock is on the edge of a breakout from a bullish Flag pattern suggesting expectation growing up. A good trade beyond 1230 will initiate the breakout taking the stock higher to levels of 1300. RSI has also taken help at the 60-level and turned upwards which is an affirmation of power.
The above is a list of the top 10 trading ideas for 2021. But remember all investments are subject to market risk. Read all the clauses and terms and conditions carefully before investing.