Indian market bounced again after falling for 3 consecutive days on Friday. The S&P BSE Sensex rose almost 500 factors whereas the Nifty50 managed to shut above 19500 ranges.

Sectorally, shopping for was seen in IT, telecom, vitality and realty shares whereas some promoting was seen in public sector, auto, energy and utilities.

Shares that had been in focus embody names like Cipla which hit a report excessive and closed with beneficial properties of almost 4%, Zomato rallied over 10% and Information Edge closed with beneficial properties of almost 8% with an increase in volumes on Friday.

We’ve collated a listing of three shares that both hit a recent 52-week excessive or noticed a quantity or a worth breakout.

We spoke to a dealer on how one ought to take a look at these shares the following buying and selling day totally from an academic viewpoint:

Analyst: Sunil Gurjar, Creator, Founder Chartmojo, CFTe

Information Edge:
Naukri is in a wholesome uptrend with a better excessive & greater low intact. Counter gave a reversal with a bullish open Maruboozu candle indicating a stable reversal. Aggressive merchants can add new positions.

ETMarkets.com

Zomato:
Zomato seems to be good, however one can await 100 degree to get cleared out. The chart construction is constructive with an excellent quantity spurt on the latest candle.Merchants who’re already holding counter can carry on trailing cease loss to the earlier swing low of round 80.

Cipla:
Cipla gave a recent all-time excessive breakout with good quantity motion. One can add or could make recent lengthy with cease loss on the swing low of 1150.

Analyst Disclaimer: I’m not a SEBI registered advisor, please seek the advice of your monetary advisor earlier than investing any cash. All the above observations are shared for instructional functions solely. Views talked about are of the Analyst.

(Disclaimer: Suggestions, strategies, views and opinions given by the consultants are their very own. These don’t characterize the views of Financial Instances)