Breakout Stocks: How one should trade REC, PFC and Global Health on Friday
Sectorally, buying was seen in realty, telecom, metal, and public sector stocks.
Stocks that were in focus include names like REC which was up nearly 7%, Power Finance Corporation which rose more than 6% and Global Health which closed with gains of nearly 2%. All stocks hit fresh all-time highs.
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:
Here's what analyst CA Bijay Kumar Sharma (SEBI RA, Regn No – INH000011282) had to say:
REC
REC stock has seen multiple breakouts.
Traders who have invested at the volume breakout can keep trailing their positions. It is prudent to book out of the position.
If the stock retreats, then investors can trail their stop loss at 258.
The stock has gone to unchartered territory. Fresh entry will be suggested only if the stock stays above Rs 305 for at least the next 3 trading sessions.
PFC
PFC stock has seen multiple breakouts to enter into long positions and persons invested can keep trailing their positions.
It will be prudent to book out of the position if reversal is seen or can trail their stop loss at Rs 229.
The stock has gone to unchartered territory and now a fresh entry will be suggested only if the stock stays above Rs 261 for at least 3 trading sessions.
Global Health
Global Health stock has seen multiple breakouts to enter into long positions and persons invested can keep trailing their positions.
It will be prudent to book out of the position if a reversal is seen or it fails to close above Rs 830 in the next 2 -3 days.
The stock has gone into
