Technical Breakout Stocks: Hind Zinc and Escorts hit fresh record highs. Here’s how to trade on Monday
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The Indian market recouped losses to close in the black. The S&P BSE Sensex rose over 260 points, while the Nifty50 reclaimed 22,000. Sectorally, buying was seen in telecom, metal, oil & gas, power, and utilities, while selling was seen in banks, realty, and IT stocks. Stocks in focus include names like Hindustan Zinc, which was up more than 15% to hit a fresh record high, while Escorts Kubota rose over 3% on Friday. We have collated a list of three stocks that either hit fresh 52-week highs, or all-time highs 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: Kunal Kamble, Sr Technical Analyst at Bonanza Portfolio Hindustan Zinc: Avoid On August 31, 2015, Hindustan Zinc took the support of 200 and 50-EMA (placed at 127) and rallied up to 340, but then corrected towards the 200-EMA (placed at 157), making a hig...