Technical Breakout Stocks: How to trade DOMS Industries, Exide Industries and Marico on Wednesday

In a volatile session on Tuesday, Sensex slipped by over 200 points to close at 75,170 while the Nifty settled at 22,888. Healthcare stocks saw some buying while utilities, power, and realty stocks saw selling pressure. DOMS and Exide hit fresh record highs, closing with gains of over 3% each.

The remained volatile on Tuesday and closed with losses.

The S&P BSE Sensex was down by over 200 points to close at 75,170 while the fell 44 points and settled at 22,888.

Sectorally, buying was seen in while , , and realty stocks saw some selling pressure.

Stocks that hit a fresh record high on Tuesday include names like and that closed with gains of over 3% each. pared gains after hitting a record high but managed to close 0.8% higher.

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.

Here’s what analyst Priyanka Limaye (CA , CMT) had to say:

DOMS Industries: CMP Rs 1,906.85

This stock had been consolidating since mid-April 2024 and gave a breakout on Monday. It has a crucial technical hurdle in the zone of 1,975-2,050.

If it is able to clear the above-mentioned resistance zone, we can see the targets of 2,150 and 2,350.

The Relative Strength Index (RSI) is trying to enter into a super bullish zone. Volume also seems to be picking up. On the downside, 1,850-1,750 shall act as immediate support zones.

Exide Industries: CMP 509.90

This stock has recently given a Flag breakout. The RSI is in a super bullish zone and volume is also quite good. Indicators like MACD and Stochastics are also indicating bullishness.

The stock is heading for 565-580 in the medium term. On the downside, 455 – 430 is its good support zone.

Marico: CMP 608.10

This stock has recently given a long-term breakout above 585-590. On the upside, 612.40 is an immediate minor technical hurdle. On clearing this hurdle, we can see the stock move towards 660-680.

RSI and volume should support the momentum to pick up. MACD is neutral at present. 570-550 shall act as crucial support zones in the short term.

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

Source: Stocks-Markets-Economic Times