Breakout Stocks: How to trade Tata Investment, Mankind Pharma and ITI on Tuesday
Sectorally, buying was seen in IT, telecom, healthcare and public sector stocks while selling was seen in auto, utilities, capital goods, and FMCG stocks.
Stocks that were in focus on Monday include names like Tata Investment Corporation which was up more than 15% to hit a fresh record high, Mankind Pharma rose nearly 5% and ITI Ltd closed with gains of more than 7% 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 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 Ankit Choudhary Co-Founder, Financial Independence Services, SEBI Registered Investment Advisors (Registration Number — INA100008939) has to say:
ITI
We had mentioned the re-rating of ITI when it launched its laptop and PC range under the brand name of Smash to compete against DELL, Acer and Lenovo in September.
It was trading around 177 and then in October we advised existing investors to hold this stock with a stop loss of 184 as it was on the verge of giving a Pole & Flag pattern breakout above 230.
The stock has seen an ATH of 337 on 18th Oct and is consolidating in a range.
Fresh positions can be taken above 290 levels with a stop loss of 224 for a target of 337 and 399.
Mankind Pharma
Mankind Pharma has given a fresh breakout on the monthly charts after the consolidation of 4-month.
Fresh positions can be taken above 2035 with a stop loss of 1649 and investors can see an upside of 30-40% in the next 3-4 months.
Tata Investment
It has given a good breakout on the monthly, weekly, and daily charts but since the stock has made a good move
