Sectorally, buying was seen in metal, capital goods, telecom, and FMCG stocks, while selling was seen in oil & gas, energy, auto, and banks.
Stocks that were in focus included names like Rallis India, which rose more than 13%, Tata Investment, which closed with gains of 5% to hit a fresh record high and Tata Chemicals, which rallied more than 11% to a fresh high on Thursday. The Indian market remained shut on Friday on account of a public holiday.
We have collated a list of three stocks that either hit a fresh 52-week high, or an 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: Priyanka Limaye, CA, CMT
Rallis India
This stock has given an excellent breakout of the “W” pattern on higher time frames with great volume. It is expected to retest its life high of Rs 362 in the near term; however, Rs 307 can act as a minor hurdle on the upside.
Tata Chemicals
After consolidating for more than two years on a higher time frame, this stock has given a breakout with fairly good volumes, a positive sign for the bulls.
With a minor technical hurdle at around Rs 1,480, this stock has the potential to test Rs 1,800+ in the medium term with a stop below Rs 1,150.
ETMarkets.com
Tata Investment
This stock has been unstoppable since April 2023. The major technical hurdle will be around the Rs 1,0470-10,500 zone. If it sustains above that, it has the potential to give another 30-50% appreciation. The major support zone will be around Rs 8,800-8,300.
ETMarkets.com(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) v
