Key Points
Selling was seen in realty and consumer durable stocks.ETMarkets.com..
Stocks in focus on Wednesday include names like Aster DM Healthcare which was up over 19%, Borosil Renewables which closed with gains of over 6% and Torrent Power which closed more than 11% higher...
After hitting both targets, the stock retraced to its 20-EMA and then gave a fresh breakout on Wednesday above 367 and made a high of 399...
Traders can take fresh positions if the stock is able to stay above 400 for more than 15 minutes on Thursday, with a strict small stop loss of 389 and targets of Rs 420...
At these levels, the risk-to-reward ratio is unfavourable to take fresh positions but if you get this stock around previous breakout levels of 840-860 it could be a good buy with a stop loss of 679 for a Target 1 of 1000 and T2-1200...
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