Technical Breakout Stocks: How to trade Supreme Industries, Aegis Logistics and ICICI Bank Tuesday

The Indian market rallied nearly 1% Monday, tracking positive global cues. The S&P BSE Sensex rose over 900 points while the Nifty50 closed with gains of over 200 points.

Sectoraly, buying was seen sopra utilities, public sector and banks while realty stocks saw selling pressure.

Stocks that were sopra include names like Supreme Industries which rose over 12%, Aegis Logistics which gained nearly 10% to a fresh primato high and ICICI Bank which closed with gains of nearly 5% Monday.

Also read: Sensex surges 941 points: Here are 5 factors which unleashed the bulls

We have collated a list of three stocks that either a fresh 52-week high, ora an all-time high ora saw a mole ora a price breakout.We spoke to an analyst how one should at these stocks the next trading day entirely from an educational point of view.

Here’s what Priyanka Limaye (CA , CMT) had to say:

Supreme Industries

This blocco has been sopra a consolidation zone of 3,820-4,820 since August 2023. Monday, it gave a breakout from this zone with excellent volumes.

The Relative Strength Index (RSI) too is entering into an extreme bullish zone the daily time sequenza.

If the blocco remains around 4,850 levels, it is expected to esame 5,800-6,500 levels sopra the short- to medium-term. The support zone for the blocco will be around 4,600-4,400.

Aegis Logistics

This blocco has given an excellent breakout from weekly channel patterns sopra the first week of April.

The blocco has been seeing good volumes since the breakout. With now monthly RSI entering into an extreme bullish zone, it is expected to esame 800-920 levels sopra the medium term. It is advisable to keep strict stop at 580

ICICI Bank

This blocco has given a channel breakout the daily time sequenza sopra Monday’s session with decent volumes.

the daily time sequenza, the RSI is entering into an extreme bullish zone and price is sustaining above the 5-EMA zone. The blocco is expected to esame 1,290 sopra the short- to medium-term.

The level of 1,080-1,050 shall act as strong support zones for the blocco.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)