Breakout Stocks: How Bajaj Finance, Tata Consumer and Trent are looking on chart for Tuesday’s trade
Sectorally, buying was seen in realty, consumer durables, banks, and healthcare and selling in IT, capital goods and telecom space.
Stocks that were in focus on Monday include names like Bajaj Finance, which closed with gains of over 4%; Tata Consumer Products that rose nearly 3% to hit a fresh all-time high; and Trent that closed with gains of over 4%.
We have collated a list of these 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 analyst Ankit Choudhary on how one should look at these stocks the next trading day entirely from an educational point of view.
Here’s what the Co-Founder of Financial Independence Services (SEBI Registered Investment Advisors, Registration Number — INA100008939) has to say:
TATA Consumer Products
Tata Consumer has given a huge breakout on daily, weekly, monthly and annual charts. On the annual charts, it is a Pole & Flag Pattern with an inside candle.
So long-term investors can hold it for big targets of Rs 1200 if it closes above Rs 900 on Tuesday.
It was a perfect candidate for the BTST and our clients are carrying it in F&O for Tuesday.
Tata consumer has been trading in the range of Rs 600-900 in the last 2 years and for the first time it has given a very strong close of above Rs 900.
Swing traders can make fresh positions if it closes a 15-minute candle above Rs 906 for the targets of Target 1- 949 and Target 2-999 with a stop loss of Rs 849.
Intraday or BTST traders can buy Tata Consumer above Rs 907 for the targets of Rs 929 with a stop loss of Rs 989.
(Disclaimer: Our clients are carrying Tata consumers as BTST)
Bajaj Finance
The stock was up by 4.49% on Monday due to news of fresh fundraise reports. It is on the verge
