Breakout Stocks: How Kaynes Technology, Syrma SGS and Coromandel International are looking on charts for Friday’s trade
Sectorally, buying was seen in capital goods, IT, consumer durables, auto, and bank stocks while power, utilities, healthcare, and telecom stocks witnessed selling pressure.
Stocks that were in focus on Thursday include names like Kaynes Technology (up more than 4%), Syrma SGS (rose more than 6%), and Cromandel International (that closed with gains of nearly 2%).
Kaynes Technology and Syrma SGS rose over 40% in the last 3 months while Coromandel International also recorded gains of more than 20% in the same time period.
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 a analyst Vivek Mashrani on how one should look at these stocks the next trading day entirely from an educational point of view.
Here’s what the CFA and Director at Technofunda Ventures Private Limited had to say:
Kaynes Technology
Kaynes Technology has been forming continuous higher highs with excellent uptrend.
It is good from a medium-term perspective as long as the trend is intact.
Fundamentally, the company has been in the limelight with excellent tailwinds in the EMS (Electronic Manufacturing Services) theme.
The company recently received a huge order from the Karnataka government and the management has given revenue guidance of 30-50% over the next 5 years. The company is also keen to explore opportunities in the Semiconductor space.
Syrma SGS
Syrma SGS has been in the limelight with excellent tailwinds in the EMS (Electronic Manufacturing Services) theme.
