Following are a few stocks that I am going to be keeping an eye on next week. Actually, there are a lot more stocks on my watchlist, some of them even for long term, but the markets seem overstretched at the moment, so I am going to be waiting for a pullback or a period of consolidation before getting into those. The following stocks seem ripe for the taking though.
ONGC - An impressive run from 250 to 340, followed by a period of consolidation for 5 months and now its finally back to 340 again. Looks set for a breakout though I would prefer a day or two of consolidation first.
HDFC - At all time highs. Big moves followed by bullish flags seems to be the pattern here. Has been consolidating for the past two sessions on lower volume after a big move up. Watch out for a break of 910 with volume.
VIP Industries - Has seen some impressive volume on the upside in the last month. Should touch 75 on another one of those big volume days. Really like the volume pattern on this one!
Adani Power - Been consolidating for the last two months. Finally managed a close over 50 on Friday. Volume showing signs of coming back in. Looks set to break out of the consolidation pattern next week.
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