Stocks that were in focus include names like Bombay Burmah Trading which was up 20%, Angel One was up more than 6% and Paytm was up nearly 2% to hit a fresh 52-week high. We have collated a 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: Kush Ghodasara, CMT, SEBI RA: INH000002137
Bombay Burmah (52-Wk High)
The stock is illiquid as volumes are pretty much rare but whenever volumes rise in that case the price impact is also strong just like we saw on Friday.
The stock has managed to touch almost a 5-year high at 1420 and indicators have given internal crossover signalling further strong momentum.The stock can be bought from an investment point of view with a stop loss at 1280 with a target of 1800 in the next 6 months.
Angel One (All-Time)
The stock has been travelling inside an upside channel since mid-July but on Friday it witnessed a breakout.
The stock has shown some volume momentum too with indicators in the overbought zone which suggests that we might see some more fast and furious rally in the near future.
The stock can be bought for a positional target of 2490 and a stop loss can be placed below Rs 2295.
Paytm (52-Wk high)
Recently, Paytm has given a good rally since the low in August and has been resisting at the trend line near the 1,000 mark. It has been taking continuous support at a 5- and 10-day average.
MACD is yet signalling some upside momentum in the near future and one can buy with a stop loss at 948 which is a 5-day average for targets around 1045.
(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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