Breakout Stocks: How Suzlon, Aster DM Healthcare and Bajaj Finance are looking on charts for Wednesday
Sectorally, buying was seen in IT, consumer durables, banks, and healthcare stocks while selling was seen in telecom, oil & gas, energy, and auto. Stocks that were in focus include names like Suzlon Energy, which rose nearly 9% with strong volumes; Aster DM Healthcare, which rallied more than 13% to hit a fresh 52-week high; and Bajaj Finance that rose more than 7% on Tuesday. We have collated a list of three stocks that either hit a fresh 52-week high or saw a volume or a price breakout.
We spoke to analyst Sanket Thakar CMT about how one should look at these stocks the next trading day entirely from an educational point of view:Here’s what the director of Alpha Bot Capital has to say:Aster DM Healthcare The stock has witnessed a fresh breakout in the weekly time frame. It is in a strong uptrend move, and a close above the trendline this week will lead it towards the resistance levels at 343.4 and above that to 381.75 levels. Support levels remain at 275.Suzlon The stock witnessed a high-volume breakout from a rounding bottom chart pattern in early June.
The stock has had a positive trend reversal and very soon it is expected to hit levels of 20 & 23. The outlook for this stock remains positive. A range of 13 — 14 will act as support levels for short-term traders. Bajaj Finance Bajaj Finance has had a strong breakout above the 7,400 level with a gap-up opening.
At the current condition, there are a few more hurdles that will act as resistance moving forward. The trendline resistances are at the level of 8,000 & 8,200, where profit booking can be expected to take place. Adding more to the confirmation of the resistance level, the Option Chain Data has maximum open interest in Call Options of both the strike price of
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