Breakout Stocks: How to trade Jubilant FoodWorks, Muthoot Finance & Laurus Labs on Thursday?
BSE Sensex rose more than 300 points while the Nifty50 closed above 23700 levels.
Sectorally, buying was seen in telecom, power, capital goods and auto stocks while selling was seen in metal and realty stocks.
Stoks that hit fresh highs include names like Jubilant FoodWorks which rose nearly 3%, Muthoot Finance rose nearly 4% and Laurus Labs closed with gains of more than 2% on Wednesday.
India VIX, the benchmark for market volatility, edged up by 0.42% to 14.51, indicating increased caution among traders.
“The 23,500–24,000 range remains pivotal, marked by substantial open interest additions on both calls and puts, emphasizing the prevailing standoff between bulls and bears,” Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities, said.
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