Breakout Stocks: How Suzlon Energy, Aster DM and Tata Motors are looking on charts for Thursday

The S&P BSE Sensex dropped by 45.46 points, closing at 73,466.39, and the NSE Nifty50 closed flat at 22,302.50 points.

Sectorally, buying was seen in realty, metal, telecom, public sector, and banking stocks

Sectorally, buying was seen in utilities, power, public sector and infra stocks while the auto space witnessed some selling pressure.

The S&P BSE Sensex fell over 100 points while the Nifty50 closed above the 22,450 level. Sectors like consumer durables, oil & gas, the public sector, and utilities, saw buying while IT, telecom and banks saw some selling pressure.

Indian markets closed higher on Friday, with the S&P BSE Sensex increasing over 400 points, and the Nifty50 closing above 18,800. Buying was seen in banks, capital goods, FMCG, and public sector stocks, while IT and realty stocks experienced selling. Three stocks, Data Patterns, Mazagon Dock Shipbuilding, and IDFC First Bank, either hit a 52-week high or saw a volume or price breakout. Data Patterns closed at an all-time high; Mazagon Dock Shipbuilding saw a Pole and Flag pattern breakout; and IDFC First Bank saw a rally above Rs 70.

Rallis India has given an excellent breakout of the W pattern on higher time frames with great volume. It is expected to retest its life high of Rs 362 in the near term. However, Rs 307 can act as a minor hurdle on the upside.

Stocks that were in focus include names like Bharat Electronics, up over 2% to hit a fresh 52-week high, GE Power India gained more than 18%, and Tata Motors closed with gains of 2% to hit a fresh high on Monday.

Three stocks that recently hit a fresh 52-week high or saw volume or price breakout are FACT, Gujarat Pipavav Port and Aditya Birla Capital. The Founder of Chartmojo, Sunil Gurjar, was cautious about buying fresh positions due to volatility.

Stocks in focus included names like Poly Medicure, which was up nearly 13%, L&T Finance Holdings, which rose nearly 5% to hit a fresh 52-week high, and EPL, which closed flat but is inching towards fresh 52-week highs.

Stocks that were in focus include names like Medplus Health Services which hit a fresh 52-week high, Sheela Foam rose more than 4% with strong volumes, and NMDC Steel closed with gains of nearly 4% to hit a fresh 52-week high.