Technical Breakout Stocks: How to trade JSW Infrastructure, Coromandel International & Power Finance Corporation on Thursday

Sectorally, buying was seen in , power, healthcare, and telecom while IT, oil & gas and banks saw selling pressure.

Stocks that hit fresh highs on Wednesday include names like which was up over 2%, pared gains and closed flat with a negative bias and Power Finance fell over 1% after hitting a fresh 52-week 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 day entirely from an educational point of view:

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

JSW Infrastructure:

JSW Infrastructure is in a stable uptrend but it's now going to achieve its previous chart pattern target and is also nearing its resistance zone of 310.

The range of 300 and 310 can lead to a short-term profit booking by traders. If prices manage to break and stay above the upper trendline then the uptrend will continue. On the downside, support is seen below Rs 265.

Agencies

Coromandel International

Coromandel International had broken out of multiple chart patterns like Cup and Handle and Flag a couple of weeks ago.

The overall trend is positive, and both the chart patterns are aiming at the target of 1,350 levels. On the downside, support is seen below 1,180.

Agencies

Power Finance Corporation

PFC is in a strong uptrend on both long-term and short-term charts. On a short-term basis, the next two resistance levels on the upside are placed at 550 & 575, whereas support is at the lower trendline at 430.

Agencies

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