Technical Breakout Stocks: How to trade Tata Power, Hindustan Zinc and Sobha on Wednesday?
The S&P BSE Sensex climbed Mount 75K for the first time to hit a record high of 75,124 while the Nifty50 hit a record high of 22,768.
Sectorally, buying was seen in FMCG, energy, consumer durables and capital goods while buying was seen in metal, realty and banks.
Stocks that were in focus include names like Tata Power which rose over 3% to hit a fresh record high, Sobha, gained nearly 4% and Hindustan Zinc closed with gains of nearly 16% to hit a fresh high on Tuesday.
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:
Analyst: Ankit Choudhary Co-Founder, Financial Independence Services, SEBI Registered Investment Advisors, Registration Number — INA100008939.
Tata Power
The stock is facing resistance around 435 levels. Fresh positions can be taken only above 437 with a stop loss of 407. The short-term target can be placed below Rs 500.
Investors can hold this gem for targets of 700 + in 1 year. We have been suggesting this gem from 200 levels for long-term wealth generation.
Disclaimer – Tata Power was shared as an intraday call today to our paid clients.
Sobha Developers
The stock has been taking resistance in a range for the last 3 months. Fresh positions can be taken once the stock break this range and gives a closing above 1700 on daily charts with a stop loss of 1499.
Hindustan Zinc
