Nifty could find strength only above its biggest hurdles of its all-time high at the 22,298 mark, while support is likely at 21,857 and 21,566 levels.
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:
The stock has been an outperformer in the FMCG segment for a calendar year, but now it seems to show some pause. Today, we got a long red candle at new high and looking at indicators, trade below Rs 1,131 is going to confirm a negative divergence of price to RSI. Existing positions should have strict SL at Rs 1,131 while avoiding new positions.
The stock has given a fresh breakout with heavy volumes from the consolidation pattern, which is a strong sign of new momentum. The counter can be bought for medium term with stop loss at breakout neckline at Rs 1,341 for pattern target at Rs 1,590.
Tata Motors has been trending to new highs almost each month last year, but now it seems that technical parameters are stretched. Today, we have got a spinning candle and the price is showing negative divergence with RSI. So, we should at least keep a strict stop loss at Rs 932, which is 10-day average. Any fresh buying should be avoided.
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