Breakout Stocks: How to trade PFC, REC and Brigade Enterprises on Monday?
Sectorally, buying was seen in momentum, power, FMCG, utilities and realty stocks while selling was seen in auto stocks.
Stocks that were in focus include names like Power Finance Corporation which was up more than 9%, REC Ltd gained more than 7% to hit a fresh record high and Brigade Enterprises closed 2.6% higher to hit a fresh record high on Friday.
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:
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Analyst: Sanket Thakar, CMT, Founder- Alpha Bot Capital
PFC:
PFC has recently given a power breakout out of a flag pattern which in the short term is aiming at two important levels, one at 374 & another at 391.9.
These levels are the expected targets in a very short span of time, where profit booking can take place. The overall trend remains bullish.
REC
REC has given multiple swing breakouts following on similar lines with its pair PFC. In this all-time high regime, the nearest resistance in the short term remains at 381 & above that at 395 & 413.
The overall trend is extremely bullish with the nearest support level at 350.
Brigade Enterprises:
Brigade Enterprises on Friday reached its all-time high levels but has got rejected exactly from its long term trendline resistance level.
The RSI indicator is in the overbought zone above 70 which
