Breakout Stocks: How Suzlon, Aster DM and Indiabulls Housing Finance are looking on charts for Tuesday’s trade
Sector-wise, buying was seen in capital goods, realty, industrials, and public sector while selling was seen in IT, FMCG, and energy stocks.
Stocks that were in focus on Monday include names like Suzlon Energy, that was up nearly 5%, Aster DM Healthcare that rose nearly 3% and Indiabulls Housing Finance that closed with gains of over 10% to hit a fresh 52-week high.
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 Ankit Choudhary on how one should look at these stocks the next trading day, Tuesday, entirely from an educational point of view.
Here’s what the Co-Founder of Financial Independence Services (SEBI Registered Investment Advisors, Registration Number — INA100008939) had to say:
Indiabulls Housing Finance:
Indiabulls Housing Finance has seen a good rally in the last 3 days from 150 to 198. It faces a stiff resistance at 200.
If it is able to sustain above Rs 200 then we can see swing targets of 225.
We would suggest F&O traders to stay away from this as it will be going into F&O Ban on Tuesday.
Aster DM Healthcare:
Aster DM Healthcare is looking good on the weekly charts as it is forming a Pole and Flag pattern. If it is able to stay above the Rs 338-340 levels then we could see trading targets of Rs 349 and a swing target of Rs 360.
Do keep 1-1.5 % as a stop loss for all trading positions and 5-6% as the stop loss for all swing positions.
Do consult your financial advisor before taking any position.
Suzlon Energy:
Will suggest ignoring such stocks as these stocks are operator-driven and are locked at a 5% circuit on Monday.
It has given a fresh breakout above 21-21.3 levels and Monday’s high is 23.5. We could see another
