How to Trade JSW Infrastructure, Coromandel International, & Power Finance Corporation on Thursday
The Indian stock market closed in the red for the fourth consecutive session on Wednesday, influenced by weak global cues. The S&P BSE Sensex dropped over 600 points, and the Nifty50 fell 183 points to close at 22,704.
Sector-wise, there was buying interest in utilities, power, healthcare, and telecom stocks, while IT, oil & gas, and banking sectors faced selling pressure.
Among notable stocks, JSW Infrastructure rose over 2%, Coromandel International ended flat with a slight negative bias after earlier gains, and Power Finance Corporation fell over 1% after hitting a new 52-week high.
We have highlighted three stocks that either hit a new high, showed significant volume, or had a price breakout. Analyst Sanket Thakar, CMT, Founder of Alpha Bot Capital, shares his insights on how to approach these stocks for the next trading day:
JSW Infrastructure: JSW Infrastructure is in a steady uptrend, nearing its previous chart target and resistance zone around 300-310. Traders might book short-term profits within this range. If the price breaks and holds above this level, the uptrend could continue. Support is seen below ₹265.
Coromandel International: Coromandel International recently broke out from multiple chart patterns like Cup and Handle and Flag. The overall trend is positive, with targets around 1,350 levels. Support is seen below ₹1,180.
Power Finance Corporation: PFC is in a strong uptrend on both long-term and short-term charts. Short-term resistance levels are at 550 and 575, with support at the lower trendline at 430.
These insights are for educational purposes and should be considered as part of a broader trading strategy.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
