Sectorally, buying was seen in oil & gas and energy while selling was seen in IT, banks, capital goods, and power indices.
Stocks that were in focus include names like Aster DM Healthcare which rose more than 7%, Thermax which rose more than 4% and Exide Industries which closed with gains of nearly 3% to hit a fresh record high on Monday.
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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: Kush Ghodasara, CMT, SEBI RA : INH000002137
Exide Industries
Exide Industries has been on consolidation mode for almost 5 years and resisting under 300 but this month it has given a breakout with volumes.
Now, the stock is trending on an upside channel and indicators are still positive for an investment buy with stop loss at 296 and a target of Rs 480.
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Thermax
The stock has been on a rising trend on weekly charts but now it seems to have exhausted the short term. Rallies are exhausted in the overbought zone.
Short-term investors can exit around 4709 and re-enter around 4300. Avoid new positions.
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Aster DM Healthcare
The stock on Monday pitched a new high but we saw selling pressure and it ended at the day’s low. Indicators are in the overbought zone and are about to give a bearish crossover; therefore, we should exit the stock.
We expect the stock to correct to 465 levels where we can look to add more positions. Therefore, for exit and avoid new positions.
ETMarkets.com(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)