Technical Breakout Stocks: Info Edge, PB Fintech and Bharti Airtel hit fresh record highs; what should investors do?

Sectorally, buying was seen in FMCG, banks, and consumer durables while selling was seen in capital goods, oil & gas and telecom.

Stocks that hit fresh record highs include names like Info Edge which rose more than 1%, PB Fintech rose over 4% and Bharti Airtel pared gains after hitting fresh record highs on Thursday.

We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:



Here’s what analyst Sanket Thakar (CMT, Founder - Alpha Bot Capital) has to say:

On the 75-minute chart, Info Edge is trading in an upward-sloping range between the 8,050 and 7,650 levels.



On Thursday, it was rejected from the upper trendline, and a fresh upmove is only expected after breaking that.



On the downside, there is the parabolic trendline, which will act as trailing support, currently placed at 7,650.

PB Fintech is positionally in an uptrend and has recently broken out of a Flag formation, which could lead the price to 1,946 and 2,019 in a couple of weeks. The support below is at the 1,681 zone.

Bharti Airtel is broadly in an uptrend but was rejected from the parabolic trendline resistance on Thursday, suggesting that profit booking may have been done by short-term traders.


The support level is below the trendline at 1,624, which will continue to trail as time passes.



(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)