Technical Breakout Stocks: How to trade Thermax, Avenue Supermarts and Hitachi Energy on Friday

Stocks that were in focus include names like , which was up over 4%, which hit a fresh high and which closed with gains of 10% to a new high on Thursday.

We have collated a list of these 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 Ankit Choudhary, Co-Founder, Financial Independence Services (Sebi Registered Investment Advisors, Registration Number - INA100008939) has to say:

Thermax

Thermax gave a good Triangular breakout on Thursday and gave a move of 5%. We advise aggressive traders to make an entry at the CMP of Rs 3,860 and safe players to enter only after a resistance break of 4,000.

The near-term target for Thermax is placed at Rs 4,400 and 4,650, and a stop loss for both traders can be placed at Rs 3,649.

ETMarkets.com

Avenue Supermarts

D-Mart is trying to give a Cup and Handle breakout on the daily time frame and on Thursday we can see good volumes in stock, which means it is getting ready for a big move.

We can enter above 4,240 levels and the near-term target is placed at Rs 4,640 and 4,840. A stop loss can be placed below Rs 3,890.

ETMarkets.com

Hitachi Energy India

We saw a channel breakout in Hitachi Energy stock on Thursday. The stock gained over 10% in a day and has more strength to go up and reach levels of 7,700 and 8,100.

Traders can enter on a small retracement at 7,060-7,080 levels with a stop loss of 6,499.

ETMarkets.com

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