Technical Breakout Stocks: How to trade Finolex Industries, M&M and HAL on Wednesday

Stocks that were in focus on Tuesday include names like , which closed with gains of 11% to hit a fresh record high, M&M that rose nearly 4% and which rose more than 3% to hit a fresh record high.

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 Ankit Choudhary (co-founder, Financial Independence Services, SEBI Registered Investment Advisors, Registration Number - INA100008939) has to say:

Finolex Industries

The stock has posted a good set of numbers on Tuesday and was up by 11% towards the close of the trade. It has given a breakout from a on the monthly charts.

We suggested buying the stock above 275 for a target of 325 on 24th April to our ET Readers. Fresh positions can be added above 305 for a target of 325 and 350. The RSI is above 60 on the daily charts.

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M&M

The stock has given a good breakout on the daily charts and if it is able to sustain above 2,300 for over 1 hour on Wednesday, the next targets could be around 2,500. The crucial support levels are around 2,100-2,150.

Disclaimer – On 30th April, we had analysed this stock for our ET readers and suggested breakout levels of 2,170 for targets of 2,300.

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Hindustan Aeronautics

The stock has given a Pole & Flag breakout on the weekly charts and if it is able to sustain above the crucial levels of 4,100 on Wednesday, we can see another upside of 10-15% in this stock in the next 20 days.

The stock has strong support at 3,700 and 3,500 levels.

(Disclaimer: It was shared as options BTST yesterday and intraday call today with our paid client’s.)

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