The S&P BSE Sensex rallied nearly 500 points, while the Nifty50 closed above 22,500 levels.
Sectorally, buying was seen in auto, power, healthcare, metals, and public sector stocks, while selling was witnessed in realty and consumer durable space.
Stocks that were in focus include names like State Bank of India, which rose more than 5% to hit a fresh 52-week high, Eicher Motors, which rose over 1%, and Aditya Birla Capital, which closed with gains of over 6% to hit a fresh 52-week high on Thursday.
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: Analyst: Priyanka Limaye, CA, CMTSBI: LTP: Rs 812 | Target: Rs 850-860
This stock had been in a consolidation zone of Rs 720-790 for almost two months now and on Thursday it gave a channel breakout with good volumes.
With the Daily Relative Strength Index (RSI) on the verge of entering an extremely bullish zone, this stock can touch the Rs 850-860 zone in the short term.
On the downside, Rs 720-740 will act as important support levels in the short term.
Eicher Motors
As per my analysis given on March 20, 2024, the stock touched its target of Rs 4,600 precisely (CMP: 4630) on Thursday.
Now, with Daily RSI above 75+ and comparatively good volumes, this stock can eventually test Rs 4,850 and Rs 5,200 in the short to medium term once it sustains above Rs 4,600.
On the downside, strong support is seen at Rs 4,200-4,000 levels.
ETMarkets.comAditya Birla Capital
This stock gave a Symmetrical Triangle breakout on April 2, 2024 with excellent volumes.
There’s a gap area at Rs 238 marked in September 2017 and its life high is marked at Rs 255.
Now, it sustains above Rs 255, only then it will give a quick movement of 8-10% on the upside. Support zones for this stock will be at Rs 200-190.
ETMarkets.com(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)