Technical Breakout Stocks: How to trade CESC, Emami and Welspun Corp on Wednesday?
, ETMarkets.com|
Sectorally, buying was seen in healthcare, FMCG, realty, consumer durables and auto while selling was seen in energy, CPSE, telecom and oil & gas stocks.
Stocks that hit fresh record highs include names like CESC which was up more than 5%, Emami closed with gains of more than 3%, and Welspun Corp closed with gains of more than 5% to hit fresh record highs on Tuesday.
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.
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It could face short-term resistance at current levels of 185-200. We would follow a buy-on-dip approach as the stock has good support at 145-150 levels. Traders can go long with a stop loss below 107 for a target of Rs 200-300.
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One can buy this stock at current levels with a stop loss below 674 for a target of Rs 900-1000 in 3-4 months
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The stock has important support at 439 levels.
Analyst Disclaimer: Please consult your investment advisor before taking and action as above levels are shared for learning purpose
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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