Breakout Stocks: How to trade Vijaya Diagnostic, Caplin Point Laboratories and Swan Energy on Muhurat Day
Sectorally, buying was seen in power, utilities, public sector, and metal stocks while selling was seen in auto, consumer durables, IT, and oil & gas.
Stocks in focus include names like Vijaya Diagnostic which was up more than 6%, Caplin Point Laboratories which rose more than 9% to hit a fresh high and Swan Energy which closed with gains of over 2% on Friday.
Indian market will remain open on Sunday on account of Muhurat Trading Day.
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:
Analyst: Kush Ghodasara, CMT, SEBI RA: INH000002137
Vijaya Diagnostic Center
The stock was travelling in a rising wedge pattern since September but on Friday it nudged out with heavy volumes. Indicators have been in positive momentum, but volumes have been quite uneven, which suggests traders should wait for some more confirmation before buying in a new position.
The stock can be bought in the range of 560-580 until then we can wait.
