Technical Breakout Stocks: How to trade RIL, M&M and ICICI Bank on Monday?
Nifty50 closed below 22,200 levels.
Sectorally, buying was seen in telecom, capital goods, realty, consumer durables and industrials while some selling was seen in oil & gas, public sector and energy stocks.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowIIML Chief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Digital OfficerVisitStocks that were in focus include names like Reliance Industries which was up nearly 1%, ICICI Bank pared gains after hitting record high and M&M closed with gains of nearly 1% 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 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:
4 PSU stocks look attractive at current level, for others wait for 5-10% dip: Kunal Shah
Analyst: Virat Jagad, Technical Analyst at Bonanza Portfolio Ltd
ICICI Bank Ltd.
A bullish trend is evident in ICICI Bank as it experiences a breakout from an Ascending Triangle pattern on the daily timeframe. The price is currently at its peak, forming a lower wick candle that signals buying interest at the lower range.
The security found support above the 21-day EMA, and the price is consistently trading above both the 21 (fast moving average) and 50 EMAs (slow moving average) —