These 5 midcap stocks touch their new 52-week highs. Do you own any?

The weekly timeframe chart of Indian Metals and Ferro Alloys (IMFA) indicates an attempt of an upside breakout of the crucial overhead resistance of the down trend line at Rs 280-282 levels. The weekly chart pattern of the last two weeks signals an important upside reversal pattern for the stock price. Hence, the present upside momentum is expected to continue for the near term. We also observe an upside breakout of the range movement of the last few months at Rs 280 levels. This is a positive indication. Weekly 14 period RSI has turned up from near lower 40 levels and is expected to move above 60 levels in the near term. This anticipated pattern of RSI could mean more strengthening of upside momentum for the stock price ahead.

One may look to buy IMFA at CMP (Rs 279.20), add more on dips down to Rs 270 and wait for the upside targets of Rs 305 and Rs 335 in 3-5 weeks. Place a stop loss of Rs 262.

(Nagaraj Shetti, Technical Research Analyst, HDFC Securities)

The benchmark index, Sensex, rose about 126 points to settle at 61,294 on Tuesday. During this rally, five stocks from the BSE midcap index managed to touch new 52-week highs.

The 52-week high is the highest price at which a stock has traded during 2022. Some traders and investors use this technical indicator as an important factor to analyse a stock's current value and to predict its future price movement.

In the last one month, the stock has gained about 6%.

In the last one month, the stock has gained about 6%.

In the last one month, the stock has gained about 2%.

In the last one month, the stock has gained about 12%.

In the last one month, the stock has gained about 11%.


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