Hey folks, in the Diwali picks SIP video, I had said that I am going to do a SIP in 5 stocks named Airtel, Bajaj FinServ, REC, Patanjali, and Jubilant food works.

The market has been turbulent due to the macro-economic scenarios from the last few months and one of the pro-investor members of our channel requested me during our quarterly Zoom meeting to discuss an update about these stocks. Hence, I thought of coming up with this blog wherein I have shared the levels in these stocks that I am looking out to invest some more amount (in addition to the normal SIP that I am doing).

Disclaimer: Please note that this is not investment advice or a recommendation, but only an update to the video which I released during Diwali 2022. Please consult your financial advisor before taking any financial decision.

1. Airtel

As per the chart, the support levels appear to be around 650-670 levels as that is the confluence zone for the earlier supports as well as the 38.2% retracement for the Fibonacci levels drawn from the covid lows.

2. Bajaj FinServ

As per the chart, the strong support levels appear to be around 980-1000 levels as that is the confluence zone for the earlier supports as well as the 50% retracement for the Fibonacci levels drawn from the Covid lows.

3. REC

The stock is in a sideways trend and is respecting the upward sloping trendline as shown in the chart. The stock seems to be preparing an ascending triangle pattern and the lower end of such a pattern (92-93 levels) can act as a good support.

4. Patanjali

The stock has been in a bigger sideways zone now for quite some-time. In this consolidation zone, the stock seems to be taking support on the upward sloping trendline and there is a horizontal support as well. The stock seems to be making a double bottom pattern here, which indicates the current levels itself are very close to the support.

5. Jubilant Foods

The stock seems to be going through a strong price correction and has corrected by ~50% from the top, high PE of the stock being one of the reasons for the same. We can see weekly pivots around 370 levels and in that price range, the PE ratio of the stock will also become reasonable in comparison to the industry PE, hence that can be a good support for this stock.