Breakout Stocks: How KIOCL, KSB and Cholamandalam Financial are looking on charts for Friday’s trade
Stocks that were in focus on Thursday include names like Cholamandalam Financial Holdings (which was up over 2%), KSB (that rose more than 14%) and KOCL (that closed with gains of over 4% to a new high).
We have collated a list of the three stocks as these have either hit a fresh 52-week high, or all-time high or have seen a volume or a price breakout.
We spoke to analyst Bijay Kumar Sharma on how one should look at these stocks the next trading day entirely from an educational point of view.
Here’s what the CA (SEBI RA, Regn No – INH000011282) has to say:
KIOCL
The stock had a good breakout on Thursday. It was under a consolidation zone from June 2021 till now.
The breakout has happened along with good volume, and we expect it to go up to the level of Rs 450.
One can enter in the trade based on the breakout and keep a stop loss at Rs 275. Those who have entered around volume breakout at Rs 235-240 can keep the stock with the revised stop loss at Rs 275.
KSB
KSB is trading with an upside of double-digits on Thursday with a low being Rs 2,700.
The stock has had a good breakout at Rs 2,350 levels and traders who have invested in the stock at the volume breakout can keep trailing their positions.
It will be prudent to book out of the position if it falls below Rs 2,640. A fresh entry will be suggested only if the stock stays above Rs 3,000 for at least 3 days or else if it crosses Rs 3,100.
A break above Rs 3,100 will lead to fresh momentum in stock.
Cholamandalam Financial
Cholamandalam Financial Holdings closed over 4% higher on Thursday with a low being Rs 1179. This stock has had a good breakout at Rs 770 and Rs 980 levels and persons invested at the volume breakout there can keep trailing their positions and it will be
