Sectorally, buying was seen in realty, telecom, energy, oil & gas, and banks while some selling was seen in auto, consumer durables, FMCG, and metals stocks.
Stocks that were in focus on Monday include names like Welspun Living which was up over 4% to hit a fresh 52-week high, Jindal Saw which rallied over 9% to hit a fresh all-time high and Swan Energy which closed with gains of nearly 6% to hit a fresh 52-week high on Monday.
We have collated the list of three stocks that either hit a fresh 52-week high, or 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: Ankit Choudhary Co-Founder, Financial Independence Services, SEBI Registered Investment Advisors, Registration Number – INA100008939.
Jindal SAWJindal Saw has given a strong breakout on monthly, weekly, and daily charts on Monday after consolidating in a range of 300-400.
Fresh positions can be taken above Rs 420 with a stop loss of Rs 324 for long-term targets of over Rs 500. Swing traders can also plan fresh positions above Rs 420 for a target of Rs 449 and place a stop loss below Rs 397.
Welspun Living
Welspun was up by 4.6% on Monday and closed at around 152.5. It has given a good move in the last 4 weeks and faces some resistance in the price range of 155-165 as the risk-reward is unfavourable.
We suggest traders avoid this stock at these levels. If it retests its previous breakout levels of 130-135, it could be a good buy with a stop loss below Rs109 for a target of Rs 154.
ETMarkets.comSwan Energy
Swann Energy had given a Cup and Handle breakout around June-end and has given a sharp up-move from Rs 280 to Rs 380 levels.
Aggressive traders can ride the trend if the stock is able to close above Rs 400 for a couple of hours. Do trade with strict stop loss.
ETMarkets.com(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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