Sectorally, buying was seen in utilities, power, oil & gas, IT and capital goods while healthcare, telecom, banks, and realty sector saw some selling pressure.
Stocks that were in focus include names like Adani Total Gas which rose by about 20%, Angel One which was up over 6% and Hindustan Aeronautics which closed with gains of over 6% on Wednesday.
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 Kush Ghodasara, CMT (SEBI RA : INH000002137), has to say
Adani Total Gas
The stock has been trading in a tight range for a while but now it broke out from the consolidation with heavy volumes and has managed to close above 200-day average of 718.Now indicators are in an overbought zone and we could still buy the stock on dips for a target of Rs 1450 and a stop loss can be placed below Rs 720 on closing basis.
ETMarkets.comAngel One
The stock has been known to be on a dream run since the low it made in April, and it has posted 3 times returns in a short span.
It has been taking continuous support near the 10-day average and indicators are still indicating some momentum. We can buy fresh with a trailing stop loss at Rs 3012 and a target can be placed at Rs 3400.
ETMarkets.comHAL
The stock has been trending in the North direction after forming a low in October but now indicators have reached an overbought zone.
A fresh position is not recommended but existing positions should have strict trailing stop loss at Rs 2,320, which is the 10-day average.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)