Breakout Stocks: How to trade Indian Hotels, Nalco & Fortis Healthcare on Friday?

Sectorally, buying was seen in healthcare, IT and realty stocks while selling was seen in FMCG, oil & gas, energy and utilities.

iStock

Stocks that hit fresh record highs include names like Indian Hotels which was up more than 4%, National Aluminum rose more than 3% and Fortis Healthcare closed with gains of more than 3% on Thursday.

ANI

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: Sanket Thakar, CMT, Founder – Alpha Bot Capital

ETMarkets.com

Indian Hotels has broken out of a daily resistance and is also outperforming the markets overall. The trend is bullish, and it can reach levels of 808 and 835 in the coming days.

Agencies

Nalco is in a steady uptrend but has reached a resistance point on the short-term charts. In the coming days, it may stay sideways within a range of 254 and 222. A breakout on either side will determine the further trend and direction.

ETMarkets.com

Fortis has a strong uptrend in place, with all upside resistances broken. In the current scenario, the short-term targets are 703 and 724, while the support level below is at 635.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

ETMarkets.com