Breakout Stocks: How to trade Dixon Technologies, CAMS and Info Edge on Tuesday
1/7
Market Wrap
Indian market closed in the green on Monday for the second consecutive day. The S&P BSE Sensex rose over 400 points while the Nifty50 closed above 24,200.
2/7
Sectoral Watch
Sectorally, buying was seen in IT, healthcare, metal, and realty stocks while selling was seen in banks, FMCG and utilities.
3/7
Breakout Stocks
Stocks that hit fresh highs include names like Dixon Technologies which rose over 6%, CAMS gained more than 3% and Info Edge closed with gains of over 2% to hit fresh highs on Monday.
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4/7
Analyst Call
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: Priyanka Limaye, CA, CMT
Analyst: Priyanka Limaye, CA, CMT
5/7
Dixon Technologies: CMP 16,730
This stock has been moving within the range of the big bearish candle formed on October 25 for the entire month.
In Monday’s session, it cleared the strong hurdle at 15,900. Now, 17,500 and 18,700 are the two likely upside targets.
Support now stands at 15,300. The Relative Strength Index (RSI) has entered the super bullish zone, and all other technical indicators are positively aligned.
In Monday’s session, it cleared the strong hurdle at 15,900. Now, 17,500 and 18,700 are the two likely upside targets.
Support now stands at 15,300. The Relative Strength Index (RSI) has entered the super bullish zone, and all other technical indicators are positively aligned.
6/7
CAMS: CMP 5,078
Over the last couple of days, this stock was attempting to surpass the strong hurdle at 4,910. In Monday’s session, it cleared this level with good conviction. Now, 5,400 and 5,900 are the two likely upside targets.
Support now stands at 4,700. The RSI is trying to enter the super-bullish zone, and all other technical indicators are positively aligned.
Support now stands at 4,700. The RSI is trying to enter the super-bullish zone, and all other technical indicators are positively aligned.
7/7
Info Edge: CMP 8,428
This stock needs to clear the hurdle at 8,472, which was marked earlier. If it can stay above this level, 8,900 and 9,400 are the two likely upside targets. Support now stands at 8,050.
Volume and RSI need to show strength to push the stock higher. All other technical indicators are currently neutral.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Volume and RSI need to show strength to push the stock higher. All other technical indicators are currently neutral.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)