Technical Breakout Stocks: How to trade Quess Corp, KEI Industries and Tata Power on Monday

KEI Industries is in a strong uptrend on both a positional and intraday basis. In the short term, the upside resistance levels are at 4,087 and 4,187, and on the downside, support levels are placed below 3,830 and 3,710.

The Indian market failed to hold momentum on Friday and plunged more than 1% weighed down by weak global cues.

The S&P BSE Sensex tanked nearly 800 points, while the Nifty50 managed to hold on to 22,500 levels.

Sectorally, selling was seen in infrastructure, consumer durables, oil & gas, and healthcare indices that fell over 1% each.

Stocks that were in focus include names like , which rose more than 6%, , which gained more than 5% to hit a fresh high and , which closed with gains of over 1% on Friday.

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: Sanket Thakar, CMT, Founder- Alpha Bot Capital

Quess Corp
Quess Corp has entered its 52-week high with a fresh breakout in the 60 mn intraday time frame after breaking out of its curved Flag pattern.

The trend is stable and is on the upside. The upcoming resistance level for Quess Corp is placed at 629 and 645 levels. On the downside, lower trendline support is placed at 580.

KEI Industries

Tata Power

Tata Power is currently in an uptrending range with resistance placed at 456-460 levels on the upside. Support on the lower trendline is placed around 380 levels. The upside trendline level will attract profit booking by short-term traders.
ETMarkets.com

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

Source: Stocks-Markets-Economic Times