Technical Breakout Stocks: How to trade NHPC, NBCC and SJVN on Monday?

SECTIONSTechnical Breakout Stocks: How to trade NHPC, NBCC and SJVN on Monday?By Kshitij Anand, ETMarkets.comLast Updated: Feb 04, 2024, 04:07:00 PM ISTRate StoryFollow usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsis

Indian market bounced back on Friday after the Interim Budget Day. The S&P BSE Sensex rose more than 400 points, while the Nifty50 closed above 21800 levels. Buying was seen in oil & gas, energy, metal, and public sector stocks, while selling was seen in telecom and banking. Stocks like NHPC, NBCC, and SJVN hit fresh record highs. Analyst Sanket Thakar says NBCC after a multi-year breakout, aims for Fibonacci extension levels. NHPC and SJVN reached all-time highs but may experience a cooling-off period.

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Indian market bounced back on Friday after closing lower on the Interim Budget Day. The S&P BSE Sensex rose more than 400 points while the Nifty50 closed above 21800 levels.

Sectorally, buying was seen in oil & gas, energy, metal, and public sector stocks while selling was seen in the telecom and banking space.

Stocks that were in focus include names like NHPC which was up more than 10% to hit a fresh record high, NBCC rose more than 19% and SJVN closed with gains of more than 11% to hit a fresh record high.

We have collated a list of three stocks that either hit a fresh 52-week high, or an 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:
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