Breakout Stocks: How to trade JK Cement, Muthoot Finance & UPL on Thursday
1/7
Market Roundup
Indian market failed to hold on to the momentum and closed in the red on Wednesday. The BSE Sensex fell more than 300 points while the Nifty50 closed below 23,700 levels.
2/7
Sectoral Watch
Sectorally, buying was seen in power, energy, metal & oil & gas while auto, consumer durable, FMCG and realty saw selling pressure.
3/7
Breakout Stocks
Stocks that hit fresh highs include names like JK Cement which rose nearly 1%, while Muthoot Finance and UPL closed with gains of more than 1% on Wednesday.
Amazon Top Deals
POWERED BY
Crompton Ozone 75 Litres Desert Air Cooler for home | Large & Easy Clean Ice Chamber | 4-Way Air Deflection | High Density Honeycomb Pads | Everlast Pump | Auto Fill| 3 Year Brand Warranty
₹9,798Buy Now43%
OFF
atomberg Studio Smart+ 1200mm BLDC Ceiling Fan with IoT & Remote | BEE 5 star Rated Energy Efficient Ceiling Fan | High Air Delivery with LED Indicators | 3 Year Warranty (Earth Brown)
₹5,882Buy Now36%
OFF
LG 32 L Convection Microwave Oven (MC3286BRUM, Black, 360° Motorised Rotisserie for Bar-be-queing, 301 Auto Cook Menu, Stainless steel cavity, Indian Cuisine, Tandoor Se, Steam Clean & Diet Fry)
₹19,340Buy Now19%
OFF
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:
Here’s what Priyanka Limaye (CA , CMT) has to say:
Here’s what Priyanka Limaye (CA , CMT) has to say:
5/7
JK Cement: CMP Rs 4,934
On the medium-term charts, this stock shows a breakout from a small “U” pattern. It has the potential to rise by 10–12% from the current price, with support around 5–6% below the current level. Major technical indicators are positively aligned.
6/7
Muthoot Finance: CMP Rs 2,266
This stock is consolidating within a band of Rs 200. If it sustains above the psychological mark of Rs 2,300, a 5–7% upward move is possible. The RSI is lagging, but other technical indicators are positively aligned.
7/7
UPL: CMP Rs 645
On the monthly time frame, it is breaking out from a “W” pattern. If it sustains above Rs 625 consistently for 2–3 weeks, it has the potential to rise by 15–20% from the current price. Support is seen 5–7% below the current level. All technical indicators are positively aligned.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)