Technical Breakout Stocks: How to trade Hitachi Energy India, Oberoi Realty and Bharti Airtel on Friday
Sectorally, buying was seen in realty, consumer durables and capital goods stocks while selling was available in utilities.
Stocks that were in focus on Thursday include names like Hitachi Energy India which rose over 4%, Oberoi Realty that closed with gains of over 8% to hit a fresh high, and Bharti Airtel which gained more than 2%.
We have collated a list of three stocks that either hit a fresh 52-week high, or an 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 Kush Ghodasara (CMT, SEBI RA: INH000002137) had to say:
Bharti Airtel
The stock has been on an upward trajectory since the intraday low last year but in the last few sessions it seems to be consolidating in the range of 1,295-1,360.
On Thursday, it managed to resist exactly at the trend line and on Friday, it will be crucial to witness the momentum play.
The stock is taking strong support at the 10-day average, which is at 1,304.
Therefore, the strategy would be conditional, which suggests a buy above 1,360 and then stop loss will be placed below 1,304 or sell below 1,295 while stop loss remains the same at 1,304.
Oberoi Realty: Buy above Rs 1,590
The stock has been consolidating for the last few sessions with higher lows but highs resisting at 1,591, which gave Ascending Triangle formation.
On Thursday, we saw a breakout above the neckline with heavy volumes and also managed to close above the
