Sectorally, buying was seen in consumer durables, realty, healthcare and auto stocks while energy, public sector and oil & gas stocks saw some selling pressure on Tuesday.
Stocks that were in focus include names like RattanIndia Enterprises which rose over 17% to hit an all-time high, KEI Industries which gained over 6% and PCBL which closed with gains of over 5%.
We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.
We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:
Analyst: Kush Ghodasara, CMT, SEBI RA : INH000002137
RattanIndia Enterprises Ltd:
The stock has given a breakout with heavy volumes to hit a new high on Tuesday. Momentum indicators give an internal crossover, which suggests more upside.The support of 5–10-day average is far away so fresh positions are risky at this price. The existing position can be held with a trailing stop loss at 71.
The stock has been in a consolidation phase since July but gave a breakout at 2,760 a couple of days back.
Indicators are given internal positive crossover and also MACD has given crossover at 0 line suggesting a new buy.
Even the 5-day moving average is crossing the 10-day average from below suggesting a fresh for the next 3-4 weeks. A stop loss can be placed below Rs 2780 and a target of Rs 3300.
The stock has moved out from an upside trending channel 3 sessions back and is now taking support at the previous resistance line.
Indicators are positively placed, and the momentum is suggesting a new buy for the short term with a stop loss at the trend line at Rs 230. The short-term target is placed around Rs 261.
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(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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