Breakout Stocks: How are Tata Motors, BLS International and JBM Auto looking on charts for Friday?

The Indian market hit a fresh record high on Monday tracking positive global cues. The S&P BSE Sensex rose more than 60 points while the Nifty50 hit a record high of 22,440 tracking positive global cues.

Sectorally, buying was seen in infrastructure, utilities, power, public sector and capital goods while selling was seen in FMCG and healthcare stocks. Stocks that were in focus on Monday include names like BLS International, which rallied more than 14% to hit a fresh 52-week high; Hindustan Copper, which gained over 10%, and IRFC that closed over 9% higher to hit a fresh 52-week high

Indian stocks continued to rise as the S&P BSE Sensex gained over 350 points on Wednesday. The Nifty50 closed above 18700 levels, scaling to its first high since December 5, 2022. Telecom, utilities, metals, and capital goods sectors showed positive buying trends. Stocks that performed well include Suzlon Energy, Aster DM Healthcare, and Tata Motors - posting either a fresh 52-week high or a volume or price breakout.

The S&P BSE Sensex rallied over 400 points while the Nifty50 closed with gains of over 100 points to hit a fresh closing high. Sectorally, buying was seen in banks, IT, consumer durable, healthcare, and auto stocks while realty, power and oil & gas stocks saw some selling pressure.

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.

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.

The S&P BSE Sensex fell nearly 200 points while the Nifty50 closed below 22,400 levels. Sectorally, buying was seen in auto, public sector, oil & gas, and utilities sectors while IT, FMCG, consumer durables and smallcap stocks saw some selling pressure.

India Business News: Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Thursday as the market reacted positively to the N

Hence, generally, they provide a low dividend payout. Given the high growth outlook, they are in high demand and trade at a high valuation, like Price/Earnings Per Share (P/E), which may be substantially higher than the market and peers range.