Okay so these are the names in the 12MA weekly screen for the coming week. I'll go through them one by one to give you a better idea of the filteration process.
1. Granules India: Strong stock fundamentally. Pharma is doing quite well too. I avoided taking a setup a few weeks back when it had come up on the watchlist because stop size was huge. It's more reasonable now. Adding to watchlist, can buy above 174.5 with SL of 154.
2. Relaxo footwears: Fundamentally strong. Setup posted above. Buy above 680 with SL 580.
3. CDSL: I do see potential for share price appreciation, but will stick to high quality momentum names and avoid this one since it's not a recovery after an all time high.
4. India Glycols: Downtrend.
5. Krebs Biochem: Downtrend.
6. Elgi Rubber: Downtrend.
7. Ashapura Minechem: Downtrend.
8. Amber Enterprises: Nature of business is cyclical but setup is valid. Adding to watchlist. Can buy above 1225 with SL of 1055.
9. Thyrocare Technologies: DT.
10. Wabco India: DT.
11. R systems International: Numbers seem fine and setup is valid. I'm bullish on IT. Adding to watchlist. Can buy above 91 with SL of 81.
12. Orissa Minerals Development: DT
Summary: Adding Granules India, Relaxo Footwears, Amber Enterprises and R Systems to watchlist. From the previous week I had Poly Medicure, MCX, and Bharat Rasayan on my watchlist. None of them had triggered. Removing Bharat Rasayan as it doesn't fit the criteria now (closed below MA).
https://chartink.com/screener/weekly-12ma
Link to the screener^ have a look and decide if you could take any setups, depending on how your portfolio is weighted and your fundamental views.
SHIB is going well. Open positions in Aurobindo and Lupin right now. I'm toying around with the idea of placing stops based on a lower timeframe to improve risk reward.
-Smeet